The global ferromanganese market was valued US$ X.9 Bn in 2019 and is expected to reach US$ X.55 Bn by 2027, at a CAGR of X.2% during a forecast period.
Global Ferromanganese Market
The report has covered region wise market trends with a competitive landscape. The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Ferromanganese is defined as a ferroalloy consisting of a large amount of manganese. Generally, it is produced by the heating process, which includes a mixture of carbons with Fe2O3 & MnO2 oxides. This carbon has been categorized as low and high carbon, which is generally firewood and coke obtained from a blast furnace or electric curve heating. In the furnace, the oxides are produced through the process of carbo-thermal lessening, thus creating ferromanganese. It is widely famous as a deoxidizer and has broad applications in steel, aluminum, and other alloy end-product.
The global ferromanganese market is driven by the development in the construction industry, where it delivers high structural strength. The extensive applicability of ferromanganese in several end-user manufacturing industries like stainless steel, aluminum, and others are impelling market growth in the upcoming period. Also, technological advancements and the growth in the steel engineering industry will drive the global ferromanganese market growth by the end of 2027. The availability of the materials as per product demand like low and high carbon ferromanganese are boosting the market demand across the world. But, health hazards and environmental health concerns, and fluctuation in raw materials costs may restrain the market growth in the coming years. Properties such as low melting point, antioxidant, robustness, and others are attracting the vendors to invest in the market, and the metal is utilized as an antioxidant in the manufacturing of aluminum alloy are creating lucrative growth opportunities in the market.
Ferromanganese Market Segment analysis:
Based on the application, the deoxidizer segment accounted for 45% of the market share in 2019 and is expected to grow at a CAGR of XX% during the forecast period. Deoxidization is a technique utilized in metallurgy to eliminate the oxygen content during steel manufacturing, where ferromanganese used as a deoxidizer. Ferromanganese is divided into low, medium, and high carbon ferromanganese based on carbon content. Among these, High carbon ferromanganese is widely utilized antioxidant with high carbon content and is heat resistant. It has desulphurizing and antioxidant properties that have applications in metallurgy in the chemical industry, the steel industry, and others. Therefore, ferromanganese is a vital raw material for the production of steel and iron. Technological advancement in the process of application and techniques are making this segment more popular in the end-use industries globally.
Ferromanganese Market Regional Analysis:
Region-wise, the North America ferromanganese market was valued at US$ X.12 Mn and is expected to reach US$ XX Mn by 2027, at a CAGR of X.10% during a forecast period. Development in the construction, automotive parts making industries, industrial equipment, oil and gas, and aerospace sector are fuelling the market growth in North America. The region is experiencing extreme financial disturbances coupled with increasing joblessness, and growing civil protests are negatively impacting the ferromanganese market growth in North America. The U.S. registered approximately 30-40% of market share in the year 2019 owing to the world’s prominent ferromanganese utilization by several end-user sectors present in the U.S. The rising coronavirus cases in developed countries such as the U.S. and Canada are inflicting significant economic losses, which is also declining the market growth in these countries.
In terms of value and volume, Asia Pacific held the second-largest market share of XX% in 2019 and is expected to grow at a CAGR of XX% during the forecast period owing to increasing construction and alloy industries in the region. China is the leading steel producer and consumer in the region, which is estimated to hold more than XX% regional market share in 2019. Asia Pacific have several developing markets for ferromanganese such as China, India, Indonesia, Malaysia, and Vietnam which are generating beneficial growth opportunities for key players in the region.
A report covers the recent development in the market for ferromanganese market i.e., In September 2019, Tata Steel announced the agreement with Bhushan Energy Ltd to expand the supply of all its ferromanganese production. And the new documented name of the same company after the acquisition is Tata Steel BSL Ltd.
The report has covered the key players’ analysis on the basis of their financials, market penetration, market share and Investment etc. The report will help reader to understand exactlywhere the companies are positioned in the market depending upon all above criteria. Ferromanganese material industry is driven by the construction industry, major customer for ferromanganese market. COVID-19 has impacted construction market and inturn ferromanganese market.
The major key players of the market have witnessed a fall in revenue of around 10-12% for example, Tata steel and minerals faced a fall in revenue of 7.2%, earnings per share is felled by 33%. BHP market share reduced by 18%, many key players initiated to some debts and manufactured products with a belief of increase in demand and supply of Steels and products.
Companies like Glencore and BHP are reducing its investments from tangible asset to Subsidiaries and Acquisitions of the minor key players or manufacturers of the industry, Glencore invested $12,732 million for mergers and acquisitions, the company is merging with minor key players recording high productions. The analysis helps investors for financial insights and helps for market forecast.
The objective of the report is to present a comprehensive analysis of the Global Ferromanganese Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Ferromanganese Market dynamics, structure by analysing the market segments and project the Global Ferromanganese Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Ferromanganese Market make the report investor’s guide.
Scope of Ferromanganese Market
Global Ferromanganese Market, By Type
• High-carbon ferromanganese
• Low-carbon ferromanganese
• Standard ferromanganese
Global Ferromanganese Market, By Application
• Welding production
• Alloying additives
Global Ferromanganese Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Ferromanganese Market,
• Tata Steel’s Ferro Alloys & Minerals
• Yunan Wenshan Dounan Menganese Industry
• Sichuan chuantou Emei Ferroalloy
• Jiaocheng Yiwang Ferroalloy
• Guangxi Xin-Manganese Group
• Mizushima Ferroalloy
• OM Materials (Qinzhou)
• Kameshwar Alloys & Steels
• Glencore Xstrata plc
• Sinai Manganese
• Erdos Xijin Kuangye
• Taiyuan Guohong Ferroalloy
• Yunnan Jianshui Manganese
• BHP Billiton
• VeeKay Smelters
• Gulf Ferro Alloys
• Vale S.A
Maximize Market Research provides B2B and B2C market research on
20,000 high growth emerging technologies & opportunities in Chemical,
Healthcare, Pharmaceuticals, Electronics & Communications, Internet of
Things, Food and Beverages, Aerospace and Defense and other