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