
Report ID: SQMIG15J2085
Report ID:
SQMIG15J2085 |
Region:
Global |
Published Date: January, 2025
Pages:
188
|
Tables:
62 |
Figures:
68
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.
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Report ID: SQMIG15J2085