Stratview Research has recently published a report on the Ferromanganese Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.
Ferromanganese Market Analysis:
Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Ferromanganese Market is estimated to grow from USD 13.8 billion in 2021 to reach USD 18.28 billion by 2028 at a CAGR of 4.05% during the forecast period.
Some of the companies drive the market growth:
- Anhui GSH Bio-Technology Co., Ltd.
- Monnet Group
- Maithan Alloys Limited
- Tata Steel
- Gulf Manganese Corporation Limited
- Vale S.A.
- Ferroglobe Plc
- OM Holdings Ltd.
- Nippon Denko Co., Ltd.
The glass manufacturing Market is segmented by–
- by Grade Type(High Carbon FeMn, Medium Carbon FeMn, and Low Carbon FeMn),
- by Application Type(Iron & Steel, Alloy Steel, and Others),
- byRegion (North America, Europe, Asia-Pacific, and Rest of the World).
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By Grade Type
The market is segmented into high-carbon, medium-carbon, and low-carbon ferromanganese. The high-carbon ferromanganese segment is expected to be the leading segment of the market during the forecast period. With a manganese content of 70% to 80 wt % and a carbon content of 6% to 8 wt %, it is the most widely used ferroalloy.
It is majorly used in the production of flat carbon steel products. On the other hand, medium carbon FeMn is likely to witness significant growth in the market owing to its widespread usage in steel and chemical industries.
Asia-Pacific held more than 45% market share in 2021 and is expected to maintain its incontestable lead during the forecast period as well. The growth of the regional market is led by countries such as China, Japan, and India, which produce manganese alloys. Steel fulfils the increasing demand for alloying elements from the steel industry in the region, wherein it is extensively used as a construction material for the region’s developing infrastructure. In Europe, the rising demand for steel in the automobile industry is expected to drive the FeMn market progress over the assessment period.
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