Ferrochrome Market Size

Ferrochrome Market size was over USD 20.05 billion in 2024 and is projected to cross USD 39.09 billion by the end of 2037, growing at more than 5.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of ferrochrome is estimated at USD 20.9 billion. The rising steel production across the world is anticipated to increase the demand for ferrochrome shortly. The global crude steel production was 1,878 Mt in 2022, a 4% increase from the previous years.

Ferrochrome (FeCr) falls under the category of ferroalloy which contains a high percentage of manganese. Usually, ferrochrome has an alloy of iron and chromium that is beneficial for the production of castings and other special steels. The addition of ferrochrome adds a strong layer of strength to steel and helps in the production of high-voltage steel, enhancing its appearance and improving its corrosion resistance.