Ferro Alloys Market Global 2018 - Tata Steel India, Georgian American Alloys INC

Posted by Moin Patni on October 20th, 2018

Ferro Alloys Market

Ferro Alloys Market Overview: Ferro Alloys Market is expected to witness a significant growth of CAGR 5.1% and is expected to reach USD 59.4 Billion by 2022.

Ferro Alloys are used as main alloys in production of steels, in the process of manufacturing in stainless steels, alloying of steels, and also in various applications of iron or steel industries. They are the most economical procedure for involving alloying material into the steels. Ferro alloys convey distinguish properties from steels and cast irons. Basically they are used as raw material in the manufacturing of alloys steel and stainless steel. Ferro alloys helps increases its resistance to corrosion and oxidation, improves its hardenability, tensile strength at high temperature, wear and abrasion resistance with added carbon and increases other desired properties in the steel.

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Ferro Alloys Market Key Players: Ferro Alloys Market are: Tata Steel India (India), Maithan Alloys Ltd (India), FACOR Group (India), Georgian American Alloys, Inc. (US), Atc Alloys Limited (Australia), Chengdu Huarui Industrial Co., Ltd.(China), Vietnam Youngsun Tungsten Industry Co., Ltd (China), Eramet Marietta Inc.(US), Felman Production LLC (US), Anyang Mingrui Industry Co., Ltd(China) and Others.

Ferro Alloys Market Segment Analysis: Ferro Alloys Market is majorly segmented on the basis of types, application, and region. Based on types of Ferro alloys the market is segmented into ferrochromium, ferromanganese, ferromolybdenum, ferronickel, ferrosilicon, ferrotitanium, ferrotungsten, ferrovanadium, and others. Based on applications the market segmented into road rails, automobile bodies, cutlery, metallurgy, and others.

Ferro Alloys Market Application: Ferro Alloys are manufacture by two methods which is by blast furnace or by electric arc furnace. Ferro alloys are produced by carbothermic reactions, involving reduction of oxides with carbon in the presence of iron. Some ferroalloys are produced by the addition of elements into molten iron.

Ferro Alloys are firstly incorporated with the iron and steel industries, but now they are used to produce many of the most advanced materials in use today. These involves metal alloys for extremely high temperature service applications such as resistance with high melting point, like gas turbines and stainless steels for superior corrosion resistance.

The market witnessed a significant growth over the forecasted period owing to growing applications such as road rails, automobile bodies, cutlery, metallurgy, and others across various industries.

Ferro Alloys Market Regional Analysis: Geographically, Asia-Pacific region leads the Global Ferro Alloys market. China being largest producer and consumer of Ferro Alloys dominates the market segment. Rapid industrialization and huge demand from automobile industries is likely to drive the Ferro Alloys market growth. Growing demand for road rails, automobile bodies, cutlery, metallurgy, and others in China, India, Australia and Japan has boosted the Ferro Alloys market demand. Additionally, Europe found at a second position due to demand in various industrial applications followed by North America and Middle East.

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