Ferrochromium Market : Global Industry Analysis and Forecast 2016 - 2022

Ferrochromium Market : Global Industry Analysis and

Forecast 2016 - 2022

Persistence Market Research

Ferrochromium Market : Global Industry

Analysis and Forecast 2016 - 2022

Persistence Market Research

1

Ferrochromium Market : Global Industry Analysis and

Forecast 2016 - 2022

Persistence Market Research Released New Market Report on “Ferrochromium Market :

Global Industry Analysis and Forecast 2016 - 2022”.

Ferrochromium, also known as Ferrochrome, is an alloy of iron and chromium containing 50 to

70% of chromium. It is produced by electric arc melting of chromium ore and chromite.

Ferrochromium is consumed extensively in the manufacturing of steel to achieve the qualities

such as corrosion resistance, tensile strength, heat resistance and yield strength. The global

ferrochromium market is anticipated to be in deficit to cater the increasing global steel market in

near future. Ferrochromium is mostly produced in India, China, South Africa and Kazakhstan

because of large chromite resources found in these countries. The global ferrochromium market

is witnessing a modest single digit CAGR growth up till now and is expected to continue in

future.

Ferrochromium is having its maximum share of consumption in steel industry and due to the

ever increasing construction and demand of steel the global ferrochromium market is forecasted

to flourish. In order to get a continuous supply of raw material for ferrochrome, China has

established its operations in the countries like Turkey, South Africa, Philippines and Zimbabwe

which would boost the global ferrochromium market in future. Due to the favourable conditions

like lower electricity price and lower labour cost in upcoming markets like China, the production

cost reduces comparatively. This will boost the production of ferrochrome to suffice its

increasing demand and will contribute in global ferrochromium market.

The global ferrochromium market can get hampered because of the increase in the export tax

and fixed...