Ferrochrome Market Analysis

Ferrochrome Segmentation

Product Type (High Carbon, Medium Carbon, Low Carbon)

The high carbon segment is anticipated to hold over 43% share of the ferrochrome market by 2037. The main factor for segment growth is the easy availability of high-grade carbon in large reserves and its lower cost. As a result, high-carbon ferrochrome is being preferred by various stainless steel manufacturers. In addition, high carbon is also used in the final stages of the production process of various steel such as structural steels, alloy steel, and tool steels.

Application (Stainless Steel, Specialty Steel)

The stainless steel segment in the ferrochrome market is set to garner the highest revenue share of 35% through the forecasted timeframe. The major factor for the expansion of segment value is the increasing usage of stainless steel in various industries such as construction, automotive, electronics, and others. Also, technological advancement in the steel industry has made stainless steel more affordable and accessible over the past few years. In addition to the other factors, the various advantages such as good affordability, easy accessibility, resistance to corrosion and temperature, and increased longevity are poised to boost segment size expansion.

Our in-depth analysis of the global market includes the following segments: