The global ferro manganese market is predicted to witness brisk growth over the next seven years owing to a rise in demand from the various end-use industry applications. This metal is classified into two segments which include high carbon ferromanganese 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. The 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 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 market over the next seven years. The 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 market over the forecast period. The rise in demand from the aluminum alloy industry is touted to bolster the 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 ferromanganese market over the forecast period. Growing ecological concerns regarding hazardous fumes emission are expected to hinder the overall market development. Government regulations and policies regarding bio-based product 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 the 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 the 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 a moderate growth over the last few years owing to stringent environmental policies & regulations. Countries such as Sweden, Germany, France, the U.K., 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 the 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. The Middle East is projected to witness an increase in demand due to a 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 participants in the ferro manganese market 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.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for Covid19 as a key market contributor.