Portland, OR -- (SBWire) -- 09/29/2017 --Ferrochrome imparts the noncorrosive property to stainless steel, and thus most of the ferrochrome produced worldwide is used in the manufacturing of stainless steel.
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Growth in industrialization in emerging economies, especially in Asia-Pacific countries, and increase in production of stainless steel fuel the demand for ferrochrome, thereby accelerating the growth of the global Ferrochrome Market. The demand for stainless steel is growing steadily, owing to increase in urbanization, which further supplements the market growth. However, the ferrochrome industry has not benefitted with the growing demand for stainless steel due to several issues such as rise in production cost and over production of ferro-chrome. Huge amount of electricity needed during the production of ferrochrome further restrains the market growth. Increase in production of ferrochrome in China in the recent years is expected to provide lucrative opportunities for the market
The report segments the ferrochrome market on the basis of type, application, and geography. Based on type, the market is divided into high carbon, medium carbon, low carbon, and ferro silico chrome. Applications covered in the study include stainless steel, cast iron, powder metallurgy, and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
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Comprehensive competitive analysis and profiles of major market players such as Merafe Resources Limited, Ferro Alloys Corporation Limited, Hernic Ferrochrome (Pty) Ltd, Samancor Chrome Limited, Eurasian Resources Group, International Ferro Metals Ltd., Tata Steel, Mintal Group, IMFA, and Shanxi Jiang County Minmetal Co., Ltd. are provided in the report.
Ferrochrome Market Opportunity Analysis and Industry Forecast, 2017-2023
Increase in production of stainless steel fuels the global Ferrochrome Market.