GLOBAL FERROALLOYS INDUSTRY

The global ferroalloys market is predicted to increase at a CAGR of 5.5 percent over the next five years. Steel production is expanding over the world, which is a major driver driving market expansion. Steel is given specific properties by ferroalloys, such as increased hardness, corrosion resistance, abrasion resistance, tensile strength at severe temperatures, and substantial creep strength. As a result, they are important raw materials for the iron and steel industries.

Ferro alloys are iron-based alloys that contain large quantities of manganese, chromium, silicon, and other metals. Because of the increasing need in the iron and steel sectors, ferro alloys are widely used in their manufacturing. The Asia Pacific area has the greatest ferro alloys market share, and this region is expected to develop at a similar rate in the following years. Due to rising consumer disposable income and the region’s growing construction industry, this region is generating greater ferro alloys market share. The worldwide ferro alloys market is providing greater durability and tensile strength in all regions. As a result, the automotive, transportation, and vehicle industries have become more interested in Ferro alloys. Furthermore, many manufacturers are turning to ferro alloys such as ferronickel and ferromanganese for improved low-carbon steel, rock crusher jaws, and high-speed cutting tools at high temperatures. Furthermore, ferro alloys such as ferro-chrome are widely employed in the automobile industry for radiator grills, car fittings, ball bearings, and bumper plating. Ferro-chrome is also commonly employed in the stainless steel manufacturing process. As a result, public demand for ferro alloys is increasing, and the supply chain is expanding.

TYPES OF FERRO ALLOYS

• Ferro Chromium
• Ferro Vanadium
• Ferro Molybdenum
• Ferro Manganese
• Ferro Silicon
• Ferro Tungsten
• Ferro Boron
• Ferro Niobium Etc.

INDIAN FERRO-ALLOYS INDUSTRY

The Indian ferroalloys industry has enormous potential and ability to compete in the global market. On the plus side, India produces some of the world’s greatest ferro alloys. As a result, in Europe, Indian ferro alloys are chosen. As a result, India has a lot of potential for exports. It is necessary to encourage the Indian ferro-alloys industry to build captive power plants and to provide coal linkages for this purpose. The Ferro-alloys business has a promising future if process technology and plant equipment design advances are developed, and new cost-effective product mix is explored. Because of its robust economy, large infrastructural needs, and expansion of industrial production, India is likely to demonstrate considerable increase in steel utilisation in the future years. In the next decade, India is predicted to become one of the world’s largest steel consumers. In this scenario, the Ferroalloys Industry predicts that domestic and worldwide ferroalloy demand would rise in the future years. Some Ferro Alloy Producers have already expanded, while some new units are in the works. Ferroalloy is a power-intensive business, according to the National Steel Policy. As a result, captive power generation in ferro-alloys factories will be heavily subsidised. Because the need for ferroalloys is expected to rise in tandem with the country’s steel production, the sector may be encouraged to build larger plants in order to attain appropriate economies of scale. On a priority basis, efforts will be made to provide sufficient raw materials links and a consistent supply of power in order to grow Ferro-alloys units.

TOP PLAYERS WORLDWIDE

• Arcelor Mittal
• BAFA Bahrain
• Brahm Group
• China Minmetals Corporation
• Ferro Alloys Corporation Limited (FACOR)
• Georgian American Alloys, Inc. (GAA)
• Glencore
• Gulf Ferro Alloys Company (SABAYEK)
• Jindal Group
• JSC NikoPol Ferroalloy Plant
• MORTEX Group
• OFZ, a.s. (Slovakia)
• OM Holdings Ltd.
• Pertama Ferroalloys Sdn. Bhd.
• C. Feral S.R.L
• Sakura Ferroalloys Sdn. Bhd.
• Samancore Chrome
• Shanghai Shenjia Ferroalloys Co. Ltd
• Steel Authority of India Ltd. (SAIL)
• Tata Steel Limited – Ferro Alloys & Minerals Division
• Vale SA