Global ferromanganese market is predicted to witness brisk growth over the next seven years owing to rise in demand from the various end-use industry applications. This metal is classified into two segments which include high carbon ferro manganese and low carbon manganese. Unique ferromanganese properties such as exceptional chemical properties, good anti oxidant and extremely low melting point are touted to bolster the global market over the forecast period. Construction industry is expected to rise substantially over the next seven years owing to high construction demand from the BRICS nations. This trend is estimated to boost the global steel industry thereby aiding the global ferromanganese market. Stainless Steel industry, an important end-use industry for ferromanganese, has witnessed rapid growth over the last few years and is further expected to grow. High carbon ferromanganese is used in stainless steel industry for de-sulphurizing. Demand from such end-use industries is estimated to boost the global ferromanganese market over the next seven years. Carbon steel industry has observed rapid growth over the last five years. This metal is used for removing sulfur content from other metals. This is projected to positively impact the global ferromanganese market over the forecast period. Rise in demand from the aluminum alloy industry is touted to bolster the global ferromanganese market over the forecast period. This metal is used as an anti oxidant in the production of aluminum alloy
Regulatory agencies such as Fund for Wild Nature (FWN) have issued several mandates concerning ferromanganese usage. This is expected to retard the overall market over the forecast period. Growing ecological concerns regarding hazardous fumes emission is expected to hinder the overall market development. Government regulations and policies regarding bio based products usage are also touted to hamper the overall market expansion. Health hazards such as intellectual impairment, neurological disorder, respiratory disorder and gastro disorders. High technological awareness owing to mature nature of the industry is expected to boost the global market. Major industry participants have invested heavily in R&D initiatives to develop superior ferromanganese products with reduced hazardous impacts.
North America has emerged as the leading market for ferromanganese consumption in the recent past. This can be attributed to the continuously increasing demand from the steel industry over the next seven years. South Africa has closely followed North America with regards to growing demand for high carbon ferro manganese and low carbon manganese in the chemical industry. South Africa is blessed with massive ferromanganese deposits that have led to such a trend. Europe has witnessed moderate growth over the last few years owing to stringent environmental policies & regulations. Countries such as Sweden, Germany, France, UK and Italy are anticipated to lead the regional market. Asia Pacific is estimated to witness rapid growth over the forecast period owing to growing demand from steel industry, chemicals market and automotive industry. China has dominated the regional market on account of extremely high demand from the manufacturing industry. However, China’s growth is dependent on raw material supply sources such as South Africa. Countries such as India, Thailand, Malaysia and Indonesia are expected to witness rapid growth due to growing environmental concerns over the next seven years. Middle East is projected to witness increase in demand due rise in demand for the steel industry, thereby further aiding the regional market. Central & South America is anticipated to experience brisk market growth over the next seven years. Countries such as Brazil, Argentina, Panama and Chile are expected to dominate the regional market.
Prominent industry participants include Gulf Minerals Corporation, Monet Group, OM Holdings Ltd., ISPAT India, Calcutta Carbide Pvt. Ltd., Jiaocheng Yiwang Ferro Alloy Co. Ltd., China Min Metals Corporation, Tata Steel Ltd. – Ferro Alloys and Steel Division, Eurasian Natural Resources Corporation PLC, Sino Steel Jilin Ferro Alloy Corporation Ltd., Ferro Alloys Corporation Ltd., Shanghai Shenjia Ferro Alloys Co. Ltd. and Nikopol Ferro Alloy Plant. The Indian Ferro Alloy Producers Association (IFPA) was founded as a supporting industry for meeting the increasing demands in the steel industry.
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