USD 19.06 Billion
Global Ferrochrome Market Size, Share, Growth Analysis, By Product (High Carbon Ferrochrome, Low Carbon Ferrochrome), By Application (Stainless Steel, Other Steel), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG15J2085 |
Region:
Global |
Published Date: January, 2025
Pages:
188
|Tables:
62
|Figures:
68
Ferrochrome Market Insights
Global Ferrochrome Market size was valued at USD 19.06 Billion in 2023 and is expected to rise from USD 20.30 Billion in 2024 to reach a value of USD 33.60 Billion by 2032, at a CAGR of 6.5% during the forecast period (2025-2032).
Rapid industrialization around the world and increasing demand for steel production are slated to primarily drive up the demand for ferrochrome over the coming years. Extensive use of stainless steel in multiple industry verticals is also forecasted to create new opportunities for ferrochrome suppliers in the long run. Rising automotive manufacturing activity and increasing investments in infrastructure development are also slated to bolster the sales of ferrochrome in the future. Technological advancements in ferrochrome production are also expected to open up new avenues of business for ferrochrome companies around the world. Moreover, the launch of supportive government initiatives to promote industrialization is also slated to benefit the global ferrochrome market growth in the long run. On the contrary, volatile raw material pricing, imposition of strict sustainability mandates, and dependency on stainless steel demand are slated to impede the demand for ferrochrome on a global level.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Stainless Steel
Fastest Growth
Other Steel
Growth Rate
6.5% CAGR
Global Ferrochrome Market ($ Bn)
Country Share for Asia Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Ferrochrome Market Segmental Analysis
The global ferrochrome market is segmented based on product, application, and region. Based on product, the market can be segmented into high carbon ferrochrome, medium carbon ferrochrome, and low carbon ferrochrome. In terms of application, the market is segmented into stainless steel and other steel. Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Analysis by Product
High carbon ferrochrome is forecasted to account for a substantial chunk of the global ferrochrome market share in the future. Cost-effective nature of high carbon ferrochrome and easy availability are helping this segment bring in the most revenue. Extensive use of high carbon ferrochrome in stainless steel manufacturing around the world is also slated to maintain the dominance of this segment in the long run. Excellent strength and durability offered by high carbon ferrochrome is also slated to create new opportunities for ferrochrome suppliers focusing on this segment going forward.
Meanwhile, the demand for low carbon ferrochrome is slated to rise at a notable CAGR over the coming years. Excellent corrosion resistance offered by low carbon ferrochrome is expected to help promote its adoption in the long run. Improved abrasion and wear resistance offered by low carbon ferrochrome in high temperature applications is also slated to boost revenue generation via this segment in the future. Carbon & low alloy, and tool steels are key applications for low carbon ferrochrome in the long run. High oxidation resistance offered by low carbon ferrochrome is also a key factor promoting its demand.
Analysis by Application
Stainless steel is forecasted to account for a dominant share of the global ferrochrome industry going forward. Rising use of stainless steel in multiple industry verticals and growing investments in stainless steel production around the world are forecasted to help this segment bring in the most revenue in the long run. Rising use of stainless steel in construction, automotive, and medical equipment is forecasted to create new opportunities for ferrochrome companies focusing on this segment going forward. Exceptional corrosion resistance of stainless steel is a key factor promoting its adoption across numerous industry verticals.
Meanwhile, the demand for ferrochrome in other steel is expected to hold second-largest share of the global ferrochrome market. Growing demand for different types of steel for specific engineering applications across multiple industry verticals is slated to offer new business scope via this segment. Increasing investments in the development of new types of steel with better characteristics are also expected to help bolster the adoption of ferrochrome in other steel segment over the coming years. Use of custom steel materials for manufacturing tools and instruments is also expected to help promote the demand for ferrochrome going forward.
Global Ferrochrome Market By Application
To get detailed analysis on other segments, Request For Free Sample Report
Ferrochrome Market Regional Insights
Asia Pacific is expected to account for a prominent chunk of the global ferrochrome market share. Rapid industrialization, presence of a robust manufacturing industry, and rising automotive production are slated to primarily bolster the demand for ferrochrome in this region. China is slated to be the top market in this region owing to presence of robust manufacturing activity and high stainless steel production. India and Japan are also slated to emerge as opportune markets owing to growing automotive manufacturing and infrastructure development activity in these countries. Launch of new steel manufacturing facilities in this region is also slated to benefit the demand for ferrochrome going forward.
North America is forecasted to account for the second-largest share of the global ferrochrome market in the future. Increasing establishment of stainless steel manufacturing facilities, high investments in developing advanced materials, and high use of steel products in the aerospace and defense industry are promoting the demand for ferrochrome in this region. The United States and Canada are projected to emerge as the most opportune markets for ferrochrome providers operating in this region. Launch of supportive government initiatives and funding to promote steel production is also expected to boost the sales of ferrochrome in North America through 2031 and beyond.
Global Ferrochrome Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Ferrochrome Market Dynamics
Drivers
High Demand for Stainless Steel
- Ferrochrome is a critical raw material in stainless steel manufacturing, as it plays an essential role in providing corrosion resistance and durability. The growing demand for stainless steel in multiple industry verticals such as construction, automotive, and consumer goods is projected to drive the global ferrochrome market outlook in the long run.
Growing Industrialization Around the World
- Increasing industrialization around the world to meet surging consumer demands and support economic development are also expected to bolster the demand for ferrochrome over the coming years. High investments in infrastructure development and new industrial facilities are also slated to favor market development going forward.
Restraints
Imposition of Environmental Regulations
- Imposition of stringent environmental regulations on mining and smelting activities can have a negative impact on the global ferrochrome industry. High carbon emissions and carbon footprint of these activities are expected to impede the demand for ferrochrome over the coming years as emphasis on sustainability rises.
Volatility in Raw Material Pricing
- Chromium ore is the primary raw material used for production of ferrochrome. However, this raw material and others used in ferrochrome production are subject to supply chain disruptions, trade bans, and economic uncertainty. All of these factors result in volatile raw material pricing thereby hurting the global ferrochrome demand outlook.
Request Free Customization of this report to help us to meet your business objectives.
Ferrochrome Market Competitive Landscape
Ferrochrome manufacturers should focus on targeting countries with increasing urbanization and industrialization to maximize their business scope in the future. Investing in R&D of other types of steel using ferrochrome could also help companies stand out from their competition in the long run. Automotive and construction industries are slated to emerge as popular end users for ferrochrome providers.
Top Player’s Company Profiles
- Samancor Chrome
- Jindal Steel & Power Limited
- Eurasian Resources Group
- Hernic
- Vargön Alloys AB
- Ferbasa
- Yilmaden
- Glencore
- ALBCHROME
- Outokumpu
- IMFA
- Balasore Alloys Limited
- Ferro Alloys Corporation Ltd.
Recent Developments
- In November 2024, Tata Steel’s Ferro Alloys and Minerals Division (FAMD) published an Environmental Product Declaration (EPD) for ferrochrome. Tata became the first Indian company to achieve this feat as emphasis on sustainability increasing in the ferrochrome industry.
- In July 2024, Orrcon Steel, a renowned Australian steel manufacturer and distributor announced the inauguration of its Unanderra mill. Built from a USD 70 million investment, the new facility is expected to fulfil the rising demand for steel from infrastructure and renewable energy industry verticals.
- In January 2024, Metso and Ferro Alloys Corporation Limited (FACOR) received a major order for design and delivery of a new ferrochrome plant in India. The plant is expected to have 300,000 tonnes of ferrochrome (FeCr) annual production capacity and is slated to start operations in 2025.
Ferrochrome Key Market Trends
- Emphasis on Energy Efficiency: Ferrochrome manufacturers should invest in the adoption of new energy efficient technologies and techniques to make ferrochrome production more sustainable. The use of renewable energy can also help ferrochrome companies reduce their carbon footprint and help in achieving sustainability goals for the long term.
- Rising Investments in Mining: Ferrochrome suppliers should focus on increasing their investments in the mining industry to obtain a stable supply of raw materials such as chromium ore. Exploring untapped mining reserves in Asia and Africa could help ferrochrome manufacturers maximize their production capacity and reduce reliance on third-party suppliers making it a prominent ferrochrome market trend for the future.
Ferrochrome Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rapid industrialization around the world and growing demand for stainless steel are expected to bolster ferrochrome demand in the future. However, imposition of stringent environmental mandates and volatile raw material prices are projected to slow down ferrochrome market growth in the future. The presence of strong industrial infrastructure and growing automotive manufacturing are helping the Asia Pacific region emerge as the leading market for ferrochrome companies in the world. Use of energy-efficient manufacturing technologies and increased investments in mining are slated to bolster revenue generation for ferrochrome providers in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 19.06 Billion |
| Market size value in 2032 | USD 33.60 Billion |
| Growth Rate | 6.5% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ferrochrome Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ferrochrome Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ferrochrome Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ferrochrome Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ferrochrome Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ferrochrome Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
