Ferrochrome Market Share

APAC Market Forecast

The Asia Pacific ferrochrome industry is projected to be the largest with a share of about 35% by 2037. Countries in the Asia Pacific region such as China and Indonesia are considered to be major manufacturers of stainless steel which require ferrochrome to enhance its properties. A report of 2021 suggested that China is the top stainless steel producer followed by Indonesia in the world with a production of about 30 MT, which is equivalent to 60% of the global production. Along with that, rapid urbanization and industrialization in the region are estimated to generate opportunities for the utilization of ferrochrome in the next coming years.

North American Market Analysis

The North America ferrochrome industry is set to gold 24% of the market share by the end of the projected timeframe, owing to the presence of the largest industrial share along with the manufacturing sector in the region which requires a continuous supply of ferrochrome. Furthermore, the presence of a large number of production facilities is anticipated to improve the production rate of stainless steel in the region and positively affect the dynamics of the market.