Overview and Scope
Ferro manganese is a ferroalloy with a high manganese concentration that is typically used as a ladle addition with ferrosilicon during steelmaking. It is used as a raw material in the production of metal and steel-related goods, as well as in the manufacturing of ceramics.
Sizing and Forecast
The ferro manganese market size has grown strongly in recent years. It will grow from $16.01 billion in 2023 to $16.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to steel industry growth, industrialization and urbanization, global economic trends, automotive manufacturing, mining and extraction activities.
The ferro manganese market size is expected to see steady growth in the next few years. It will grow to $20.4 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to infrastructure investments, renewable energy projects, urbanization in emerging markets, stricter environmental regulations, fluctuations in raw material prices. Major trends in the forecast period include environmental sustainability practices, fluctuations in raw material prices, market response to global economic trends, investments in research and development, digitalization and industry 40 integration.
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Segmentation & Regional Insights
The ferro manganese market covered in this report is segmented –
1) By Production Methods: Alloy Steel, Carbon Steel, Cast Iron, Stainless Steel
2) By Grade: High Carbon FeMn, Medium Carbon FeMn, Low Carbon FeMn
3) By Sales Channels: Distributor, Direct Sales
4) By Applications: Alloying Element Additive, Casting, Deoxidizer, Desulfurizer, Welding
5) By End Users: Chemical Industry, Metallurgy, Steel Industry
Asia-Pacific was the largest region in the ferro manganese market in 2023. The regions covered in the ferro manganese market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for stainless steel is expected to propel the growth of the ferro-manganese market going forward. Stainless steel is a steel alloy that is a general term for a class of corrosion-resistant alloy steels containing 10.5% chromium or higher. Ferro manganese is primarily utilized in the manufacturing of silicon manganese for flattened steel, titanium-rich steel, and stainless-steel products. Hence, the increasing demand for stainless steel across various industries, including construction, automotive, and consumer goods, is expected to propel the growth of the ferromanganese market. For instance, in April 2023, according to Arab Iron and Steel Union Highlights, an Egypt-based intergovernmental organization, world stainless steel output climbed to 56.3 million metric tons in 2021. Furthermore, global stainless-steel output climbed by 8.6% in the fourth quarter of 2022 compared to the previous quarter, reaching 13.71 million tons. Therefore, the increasing demand for stainless steel is driving the growth of the ferro-manganese market.
Key Industry Players
Major companies operating in the ferro manganese market report are Tata Steel Limited, Vale SA, Eramet Group, Eurasian Resources Group Sàrl, Ferroglobe plc, Manganese Metal Company Ltd., Compania Minera Autlan S.A.B. De C.V., Anglo American plc, Consolidated Minerals Limited., MOIL Limited., Maithan Alloys Limited., Mizushima Ferroalloy Co. Ltd., Glencore plc, JFE Mineral & Alloy Company, Maringa Ferro-liga S.A., Monnet Group, Gulf Manganese Corporation Limited, China Minmetals Group Co. Ltd, Indian Metals and Ferro Alloys Limited, Sheng Yan Group, Tsingshan Holding Group, Jiangsu Delong Nickel Industry, Rohit Ferro-Tech Limited, Shyam Ferro Alloys Limited, Visa Steel Limited, Adhunik Metaliks Limited, Shree Bajrang Alloys Limited, Sarda Energy & Minerals Limited, Ehui Group Co. Ltd., Wacker Chemie AG
The ferro manganese market report table of contents includes:
1. Executive Summary
2. Ferro Manganese Market Characteristics
3. Ferro Manganese Market Trends And Strategies
4. Ferro Manganese Market – Macro Economic Scenario
5. Global Ferro Manganese Market Size and Growth
….
31. Global Ferro Manganese Market Competitive Benchmarking
32. Global Ferro Manganese Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ferro Manganese Market
34. Ferro Manganese Market Future Outlook and Potential Analysis
35. Appendix
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