Ferrochrome Market Size, Share & Trends Analysis Report By Product (High carbon, Low Carbon), By Application (Stainless Steel, Other Steels), By Region, And Segment Forecasts, 2019 - 2030

Published: Nov, 2019 | Pages: 117 | Publisher: Grand View Research
Industry: Materials | Report Format: Electronic (PDF)

The global ferrochrome market size is anticipated to reach USD 28.83 billion by 2030,expanding at a 4.6% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The market is mainly driven by demand from booming stainless steel industry especially in Asia. Stainless steel industry accounts for roughly more than 75% of the FeCr consumption in the globe. China, being the largest stainless steel producer is therefore also the biggest consumer of FeCr.

The global stainless steel production is predicted to witness considerable growth over the coming years owing to strong demand from building & construction industry. Stainless steel is largely consumed in building & construction industry due to its aesthetic appearance and corrosion resistance properties. Moreover, a variety of stainless steel products are easily fabricated and therefore, preferred by architects and building contractors.

Majority of chromite ore suppliers in these regions are integrated in nature as they are also involved with manufacturing of ferrochrome. Glencore and Samancor Chrome are some of the major players in South Africa that produce ferrochrome by extracting chromite from their own operating mines situated in South Africa. The chromite ore suppliers are concentrated in South Africa, Kazakhstan, India, Turkey, and Zimbabwe, as these countries are host to enormous amount of chromite ore reserves.

Industry rivalry in ferrochrome market is quite intensive owing to the presence of several established and integrated companies that are consolidated in South Africa, India, Turkey, and Kazakhstan. China is also among the largest suppliers of the FeCr along with South Africa. However, the suppliers in China is characterized by various small to medium sized players that import chrome ore mainly from South Africa for their FeCr production.

Major challenge faced by the South African manufacturers is lack of power supply as ferrochrome manufacturing is an energy intensive process. Power shortages coupled with high electricity tariffs over the past few years in South Africa have adversely affected the ferrochrome production and has led to either shut down or acquisition of many suppliers in the country. Some of the recent acquisitions include Samancor Chrome acquiring local South African subsidiary International Ferro Metals SA of International Ferro Metals.

Further Key Findings from the Report Suggest:

• High carbon ferrochrome dominated market in 2018 with a volume share of 85.7% in 2018. It is expected to maintain its dominance over the forecast period owing to abundant reserves available of high carbon chromite ore as compared to other products.

• Stainless steel application is predicted to grow the fastest with a CAGR of 4.9% from 2019 to 2030, in terms of revenue. As ferrochrome currently has no substitute for stainless steel, it is poised to witness lucrative growth.

• In terms of volume, Asia Pacific acquired the highest share of 78.5% in 2018. This is mainly attributed to the dominant position of China in terms of stainless steel production.

• North America is projected to grow at a CAGR of 2.1% from 2019 to 2025, in terms of volume. The protectionist policies currently implemented by the U.S. government are expected to propel domestic steel production and thereby propel ferrochrome demand.

• In August 2019, Glencore, one of the major FeCr manufacturer of South Africa announced a cut in its ferrochrome production by 10% for 2019. This decision was taken owing to the electricity concerns in South Africa.

 Table of Contents

Chapter 1 Methodology and Scope
                   1.1 Market segmentation & scope
                   1.2 Market definition, research scope and assumptions
                   1.3 List of data sources
                   1.4 Information procurement
                   1.5 Information analysis
                   1.6 Market formulation & data visualization
                   1.7 Data validation & publishing
Chapter 2 Executive Summary
                   2.1 Market outlook
                   2.2 Segmental outlook
                   2.3 Competitive outlook
Chapter 3 Ferrochrome Market Variables, Trends, & Scope
                   3.1 Market lineage outlook
                       3.1.1 Global chromium market
                   3.2 Penetration & growth prospect mapping
                   3.3 Industry value chain analysis
                       3.3.1 Raw material trends
                       3.3.2 Manufacturing trends
                   3.4 Regulatory framework
                       3.4.1 Key international regulations & their impact on the chromite ore and ferrochrome industry
                   3.5 Technology overview
                   3.6 Market dynamics
                       3.6.1 Market driver analysis
                           3.6.1.1 Increasing production of stainless steel
                       3.6.2 Market restraint analysis
                           3.6.2.1 Carbon fiber replacing stainless steel in automotive industry
                       3.6.3 Industry challenges
                           3.6.3.1 Challenges in South Africa ferrochrome industry
                   3.7 Business environment analysis: Ferrochrome market
                       3.7.1 Industry analysis - Porter's
                       3.7.2 PESTEL analysis
                   3.8 Production trend analysis of chromite ore & concentrates, 2008 to 2018
                       3.8.1 Production trend analysis of ferrochrome, 2008 to 2018
                   3.9 Price trend analysis, 2008 to 2030
                       3.9.1 Global chromite ore price trends
                           3.9.1.1 India chromite ore price trends
                           3.9.1.2 India chromite ore price trend, by grades, 2009 - 2019 (INR per Ton)
                           3.9.1.3 China chromite ore import & export trends
                               3.9.1.3.1 China chromite ore import trends, 2009 - 2018
                               3.9.1.3.2 China chromite ore export trends. 2009 - 2018
                       3.9.2 Global ferrochrome price trends
                           3.9.2.1 India ferrochrome price trends
                           3.9.2.2 China ferrochrome price trends
Chapter 4 Ferrochrome Market: Product Estimates & Trend Analysis
                   4.1 Definition & scope
                   4.2 Product movement analysis & market share, 2018 & 2030
                   4.3 High carbon ferrochrome
                       4.3.1 High carbon ferrochrome market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                   4.4 Medium carbon ferrochrome
                       4.4.1 Medium carbon ferrochrome market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                   4.5 Low carbon ferrochrome
                       4.5.1 Low carbon ferrochrome market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
Chapter 5 Ferrochrome Market: Application Estimates & Trend Analysis
                   5.1 Definition & scope
                   5.2 Application movement analysis & market share, 2018 & 2030
                   5.3 Stainless steel
                       5.3.1 Ferrochrome market estimates and forecasts in stainless steel, 2008 - 2030 (Kilotons) (USD Million)
                   5.4 Other steels
                       5.4.1 Ferrochrome market estimates and forecasts in other steels, 2008 - 2030 (Kilotons) (USD Million)
Chapter 6 Ferrochrome: Regional Estimates & Trend Analysis
                   6.1 Regional market snapshot
                   6.2 Regional movement analysis, 2018 & 2030
                   6.3 North America
                       6.3.1 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.3.2 Market estimates and forecasts, by product, 2008 - 2030 (Kilotons) (USD Million)
                       6.3.3 Market estimates and forecasts, by application, 2008 - 2030 (Kilotons) (USD Million)
                   6.4 Europe
                       6.4.1 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.4.2 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.4.3 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                   6.5 Asia Pacific
                       6.5.1 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.5.2 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.5.3 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.5.4 India
                           6.5.4.1 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                           6.5.4.2 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                           6.5.4.3 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                   6.6 Central & South America
                       6.6.1 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.6.2 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.6.3 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                   6.7 Middle East & Africa
                       6.7.1 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.7.2 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
                       6.7.3 Market estimates and forecasts, 2008 - 2030 (Kilotons) (USD Million)
Chapter 7 Global Ferrochrome Market- Competitive Analysis
                   7.1 Global players, recent developments, & their impact on the industry
                   7.2 Vendor landscape
                       7.2.1 List of key suppliers
                       7.2.2 List of key end users
                   7.3 SWOT analysis
Chapter 8 Company Profiles
                   8.1 Samancor Chrome
                       8.1.1 Company overview
                       8.1.2 Product benchmarking
                       8.1.3 Recent developments
                   8.2 Jindal Steel & Power Ltd.
                       8.2.1 Company overview
                       8.2.2 Financial performance
                       8.2.3 Product benchmarking
                       8.2.4 Recent developments
                   8.3 TNC KAZCHROME JSC
                       8.3.1 Company overview
                       8.3.2 Financial performance
                       8.3.3 Product benchmarking
                       8.3.4 Recent developments
                   8.4 Hernic
                       8.4.1 Company overview
                       8.4.2 Product benchmarking
                   8.5 Vargon Alloys AB
                       8.5.1 Company overview
                       8.5.2 Product benchmarking
                   8.6 Ferbasa
                       8.6.1 Company overview
                       8.6.2 Financial performance
                       8.6.3 Product benchmarking
                       8.6.4 Strategic initiatives
                   8.7 ETI Krom Inc.
                       8.7.1 Company overview
                       8.7.2 Product benchmarking
                   8.8 Glencore
                       8.8.1 Company overview
                       8.8.2 Financial performance
                       8.8.3 Product benchmarking
                       8.8.4 Recent developments
                   8.9 Albchrome
                       8.9.1 Company overview
                       8.9.2 Product benchmarking
                       8.9.3 Recent developments
                   8.10 Outokumpu
                       8.10.1 Company overview
                       8.10.2 Financial performance
                       8.10.3 Product benchmarking
                       8.10.4 Recent developments
                   8.11 IMFA
                       8.11.1 Company overview
                       8.11.2 Financial performance
                       8.11.3 Product benchmarking
                   8.12 Balasore Alloys
                       8.12.1 Company overview
                       8.12.2 Financial performance
                       8.12.3 Product benchmarking
                   8.13 Ferro Alloys Corporation (FACOR)
                       8.13.1 Company overview
                       8.13.2 Financial performance
                       8.13.3 Product benchmarking

List of Tables

Table 1 Global ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 2 Global ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 3 Chromite ore and concentrates production, 2008 - 2018 (Million Tons)
Table 4 Ferrochrome production, 2008 - 2018 (Million Tons)
Table 5 Global Chromite ore price trends, 2008 - 2019 (USD/Ton)
Table 6 Global Chromite ore price trends, 2020 - 2030 (USD/Ton)
Table 7 India Chromite ore price trends, 2008 - 2019 (USD/Ton)
Table 8 India Chromite ore price trends, 2020 - 2030 (USD/Ton)
Table 9 Global Ferrochrome price trends, 2008 - 2019 (USD/Ton)
Table 10 Global Ferrochrome price trends, 2020 - 2030 (USD/Ton)
Table 11 India Ferrochrome price trends, 2008 - 2019 (USD/Ton)
Table 12 India Ferrochrome price trends, 2020 - 2030 (USD/Ton)
Table 13 China Ferrochrome price trends, 2008 - 2019 (USD/Ton)
Table 14 China Ferrochrome price trends, 2020 - 2030 (USD/Ton)
Table 15 High carbon ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 16 High carbon ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 17 Medium carbon ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 18 Medium carbon ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 19 Low carbon ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 20 Low carbon ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 21 Ferrochrome market estimates and forecasts in stainless steel, 2008 - 2019 (Kilotons) (USD Million)
Table 22 Ferrochrome market estimates and forecasts in stainless steel, 2020 - 2030 (Kilotons) (USD Million)
Table 23 Ferrochrome market estimates and forecasts in other steels, 2008 - 2019 (Kilotons) (USD Million)
Table 24 Ferrochrome market estimates and forecasts in other steels, 2020 - 2030 (Kilotons) (USD Million)
Table 25 North America ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 26 North America ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 27 North America ferrochrome market estimates and forecasts, by product, 2008 - 2019 (Kilotons)
Table 28 North America ferrochrome market estimates and forecasts, by product, 2020 - 2030 (Kilotons)
Table 29 North America ferrochrome market estimates and forecasts, by product, 2008 - 2019 (USD Million)
Table 30 North America ferrochrome market estimates and forecasts, by product, 2020 - 2030 (USD Million)
Table 31 North America ferrochrome market estimates and forecasts, by application, 2008 - 2019 (Kilotons)
Table 32 North America ferrochrome market estimates and forecasts, by application, 2020 - 2030 (Kilotons)
Table 33 North America ferrochrome market estimates and forecasts, by application, 2008 - 2019 (USD Million)
Table 34 North America ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 35 Europe ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 36 Europe ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 37 Europe ferrochrome market estimates and forecasts, by product, 2008 - 2019 (Kilotons)
Table 38 Europe ferrochrome market estimates and forecasts, by product, 2020 - 2030 (Kilotons)
Table 39 Europe ferrochrome market estimates and forecasts, by product, 2008 - 2019 (USD Million)
Table 40 Europe ferrochrome market estimates and forecasts, by product, 2020 - 2030 (USD Million)
Table 41 Europe ferrochrome market estimates and forecasts, by application, 2008 - 2019 (Kilotons)
Table 42 Europe ferrochrome market estimates and forecasts, by application, 2020 - 2030 (Kilotons)
Table 43 Europe ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 44 Europe ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 45 Asia Pacific ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 46 Asia Pacific ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 47 Asia Pacific ferrochrome market estimates and forecasts, by product, 2008 - 2019 (Kilotons)
Table 48 Asia Pacific ferrochrome market estimates and forecasts, by product, 2020 - 2030 (Kilotons)
Table 49 Asia Pacific ferrochrome market estimates and forecasts, by product, 2008 - 2019 (USD Million)
Table 50 Asia Pacific ferrochrome market estimates and forecasts, by product, 2020 - 2030 (USD Million)
Table 51 Asia Pacific ferrochrome market estimates and forecasts, by application, 2008 - 2019 (Kilotons)
Table 52 Asia Pacific ferrochrome market estimates and forecasts, by application, 2020 - 2030 (Kilotons)
Table 53 Asia Pacific ferrochrome market estimates and forecasts, by application, 2008 - 2019 (USD Million)
Table 54 Asia Pacific ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 55 India ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 56 India ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 57 India ferrochrome market estimates and forecasts, by product, 2008 - 2019 (Kilotons)
Table 58 India ferrochrome market estimates and forecasts, by product, 2020 - 2030 (Kilotons)
Table 59 India ferrochrome market estimates and forecasts, by product, 2008 - 2019 (USD Million)
Table 60 India ferrochrome market estimates and forecasts, by product, 2020 - 2030 (USD Million)
Table 61 India ferrochrome market estimates and forecasts, by application, 2008 - 2019 (Kilotons)
Table 62 India ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 63 India ferrochrome market estimates and forecasts, by application, 2008 - 2019 (USD Million)
Table 64 India ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 65 Central & South America ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 66 Central & South America ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 67 Central & South America ferrochrome market estimates and forecasts, by product, 2008 - 2019 (Kilotons)
Table 68 Central & South America ferrochrome market estimates and forecasts, by product, 2020 - 2030 (Kilotons)
Table 69 Central & South America ferrochrome market estimates and forecasts, by product, 2008 - 2019 (USD Million)
Table 70 Central & South America ferrochrome market estimates and forecasts, by product, 2020 - 2030 (USD Million)
Table 71 Central & South America ferrochrome market estimates and forecasts, by application, 2008 - 2019 (Kilotons)
Table 72 Central & South America ferrochrome market estimates and forecasts, by application, 2020 - 2030 (Kilotons)
Table 73 Central & South America ferrochrome market estimates and forecasts, by application, 2008 - 2019 (USD Million)
Table 74 Central & South America ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 75 Middle East &Africa ferrochrome market estimates and forecasts, 2008 - 2019 (Kilotons) (USD Million)
Table 76 Middle East & Africa ferrochrome market estimates and forecasts, 2020 - 2030 (Kilotons) (USD Million)
Table 77 Middle East & Africa ferrochrome market estimates and forecasts, by product, 2008 - 2019 (Kilotons)
Table 78 Middle East & Africa ferrochrome market estimates and forecasts, by product, 2020 - 2030 (Kilotons)
Table 79 Middle East & Africa ferrochrome market estimates and forecasts, by product, 2008 - 2019 (USD Million)
Table 80 Middle East & Africa ferrochrome market estimates and forecasts, by product, 2020 - 2030 (USD Million)
Table 81 Middle East & Africa ferrochrome market estimates and forecasts, by application, 2008 - 2019 (Kilotons)
Table 82 Middle East & Africa ferrochrome market estimates and forecasts, by application, 2020 - 2030 (Kilotons)
Table 83 Middle East & Africa ferrochrome market estimates and forecasts, by application, 2008 - 2019 (USD Million)
Table 84 Middle East & Africa ferrochrome market estimates and forecasts, by application, 2020 - 2030 (USD Million)
Table 85 Global leading manufacturers of stainless steel, 2018 and 2019, by crude stainless steel capacity (Million tons)

List of Figures

Fig. 1 Ferrochrome market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Ferrochrome market volume, 2018 (Kilo Tons)
Fig. 7 Global ferrochrome market - Competitive outlook
Fig. 8 Ferrochrome market volume & revenue, 2008 - 2030 (Kilotons) (USD Million)
Fig. 9 Ferrochrome market - Value chain analysis
Fig. 10 Mined Chromite production by country, 2018 (tons)
Fig. 11 Market driver analysis
Fig. 12 Global stainless melt shop production (ingot/slab equivalent), 2012 to 2018
Fig. 13 Market restraint analysis
Fig. 14 Global carbon fiber market, 2015 - 2018 (Kilotons)
Fig. 15 Porter's analysis
Fig. 16 PESTEL analysis
Fig. 17 Global chromite ore & concentrate production by grade, 2018 (Million Tons)
Fig. 18 Global chromite ore & concentrate production by country, 2018 (Million Tons)
Fig. 19 Global stainless-steel melt shop production (ingot/slab equivalent) vs Global ferrochrome production, 2008 to 2018 (Million Tons)
Fig. 20 Global ferrochrome production share by type, 2018 (Tons)
Fig. 21 Global ferrochrome production share by country, 2018 (Tons)
Fig. 22 Global ferrochrome production capacity utilization rate by country, 2018 (Tons)
Fig. 23 Ferrochrome market: Product movement analysis, 2018 & 2030
Fig. 24 Ferrochrome market: Application movement analysis, 2018 & 2030
Fig. 25 Ferrochrome market: Regional snapshot
Fig. 26 Ferrochrome market: Regional movement analysis, 2018 & 2030
Fig. 27 U.S. stainless melt shop production (ingot/slab equivalent), 2012 - 2018 (Kilotons)
Fig. 28 Total Construction Spending in the U.S. (USD Million) (2012 to 2018)
Fig. 29 U.S. Stainless Steel Import Trends, 2014 - 2018 (Kilotons)
Fig. 30 European Union stainless melt shop production (ingot/slab equivalent), 2013 - 2018 (Kilotons)
Fig. 31 South Africa stainless steel melt shop production (ingot/slab equivalent), 2013 - 2017 (Kilotons)
Fig. 32 SWOT analysis - Glencore
Fig. 33 SWOT analysis - Samancor Chrome
Fig. 34 SWOT analysis - IMFA