Ferromanganese Market is expected to grow at 4.2% by 2031. Ferromanganese was first found in the year 1872 by Lambart von Pantz. He produced ferromanganese in a blast furnace with high manganese content which was hardly possible. This achievement led the company with international recognition, along with a gold medal in Venna at 1873 World Exposition. The company also achieved a certificate of award at he Centennial Exposition in Pennsylvania in 1876.
Ferromanganese, a ferroalloy has high content of manganese is produced by mixture of Fe2O3 and MnO2 on heating with carbon in a blast furnace. In the furnace, these oxides go through carbothermal oxidation thereby producing a final product ferromanganese. Ferromanganese is widely used in steelmaking and foundry activities. About 30% of manganese used in steelmaking is used due to its properties as deoxidant and sulphide former. The remaining 70% manganese is purely used as an alloying element which provides key properties such as strength and toughness. Low carbon ferromanganese is used in the welding industry whereas high carbon ferromanganese is used in the steel industry for a wide range of applications.
Growing demand from the steel industry for ferromanganese is anticipated to fuel growth of global ferromanganese market. Manganese improves the workability, tensile strength, toughness, resistance to abrasion and hardness. Increasing constructional activities in the BRICS has led to high demand for steel. Hence, high demand is reported for ferromanganese from the steel industry. In addition, growing demand for ferromanganese from the welding industry is also one among the factors driving the growth of ferromanganese market. Increasing demand from the ally sector is also anticipated to contribute to the growth of global ferromanganese market. Hence, high demand for ferromanganese is reported from the steel industry and welding industry during the forecast period.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
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Ferromanganese, a ferroalloy has high content of manganese is produced by mixture of Fe2O3 and MnO2 on heating with carbon in a blast furnace. In the furnace, these oxides go through carbothermal oxidation thereby producing a final product ferromanganese. Ferromanganese is widely used in steelmaking and foundry activities. About 30% of manganese used in steelmaking is used due to its properties as deoxidant and sulphide former. The remaining 70% manganese is purely used as an alloying element which provides key properties such as strength and toughness. Low carbon ferromanganese is used in the welding industry whereas high carbon ferromanganese is used in the steel industry for a wide range of applications.
Growing demand from the steel industry for ferromanganese is anticipated to fuel growth of global ferromanganese market. Manganese improves the workability, tensile strength, toughness, resistance to abrasion and hardness. Increasing constructional activities in the BRICS has led to high demand for steel. Hence, high demand is reported for ferromanganese from the steel industry. In addition, growing demand for ferromanganese from the welding industry is also one among the factors driving the growth of ferromanganese market. Increasing demand from the ally sector is also anticipated to contribute to the growth of global ferromanganese market. Hence, high demand for ferromanganese is reported from the steel industry and welding industry during the forecast period.
Key Players Identified for ferromanganese Market Include but are Not Limited to:
- Monet Group
- Tata Stee.
- Gulf Manganese Corporation Limite.
- Val.
- Eurasian Resources Grou.
- Ferroglob.
- China Minmetals Group Co., Ltd.
- Eramet Grou.
- South3.
- OM Holdings Ltd.
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Ferromanganese market are as follows.- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Ferromanganese market and their expected impact during the forecast period.
Grade
- High Carbon Ferro Manganese
- Refined Ferro Manganese
Application
- Carbon Steel
- Stainless Steel
- Alloy Steel
- Cast Iron
- Others
Region Segment (2021 - 2031; US$ Million)
- North America
- U.S.
- Canada
- Rest of North America
- UK and European Union
- UK
- Germany
- Spain
- Italy
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC
- Africa
- Rest of Middle East and Africa
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Ferromanganese market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Ferromanganese market?
- Which is the largest regional market for Ferromanganese market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Ferromanganese market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Ferromanganese market worldwide?
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Table of Contents
1. Preface
2. Executive Summary
3. Ferromanganese Market: Competitive Analysis
4. Ferromanganese Market: Macro Analysis & Market Dynamics
5. Ferromanganese Market: By Grade, 2021-2031, USD (Million)
6. Ferromanganese Market: By Application, 2021-2031, USD (Million)
7. North America Ferromanganese Market, 2021-2031, USD (Million)
8. UK and European Union Ferromanganese Market, 2021-2031, USD (Million)
9. Asia Pacific Ferromanganese Market, 2021-2031, USD (Million)
10. Latin America Ferromanganese Market, 2021-2031, USD (Million)
11. Middle East and Africa Ferromanganese Market, 2021-2031, USD (Million)
12. Company Profile
List of Figures
List of Tables
Companies Mentioned
- Monet Group
- Tata Steel
- Gulf Manganese Corporation Limited
- Vale
- Eurasian Resources Group
- Ferroglobe
- China Minmetals Group Co., Ltd.
- Eramet Group
- South32
- OM Holdings Ltd.
