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According to IMARC Group latest report titled“ Ferromanganese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ”, offers a comprehensive analysis of the industry, which comprises insights on
ferromanganese market report . The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The
global ferromanganese market is expected to exhibit a growth rate (CAGR) of 4.3% during 2023-2028.
Ferromanganese is a type of alloy composed of iron and manganese, that typically contains 10-80% manganese and is primarily used as an additive in the steel-making process to increase the hardness and durability of steel. It is characterized by high tensile strength, toughness, and excellent resistance to wear and tear. Ferromanganese incorporates manganese into the steel which enhances overall properties of steel and makes it more resistant to corrosion and damage. Some of the advantages of ferromanganese include cost-effectiveness, versatility, and durability.
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Market Trends:
The global market is primarily driven by the rapid product utilization as a raw material used in the production of steel. This can be attributed to the escalating demand for high-quality steel along with considerable growth in the iron and steel industry. In line with this, the increasing number of construction and infrastructure development projects across the globe is providing an impetus to the market. Moreover, the rise in mining and exploration activities, particularly in emerging economies is also acting as a significant growth-inducing factor for the market. In addition to this, continual technological advancements in the production of ferromanganese, such as the introduction of energy-efficient furnaces and widespread industrial automation applications is fueling the market. Some of the other factors contributing to the market include rapid industrialization, considerable growth in the automotive manufacturing facilities, and extensive research and development (R&D) activities.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
China Minmetals Group Co. Ltd. Eramet Group Eurasian Resources Group Ferroglobe (Grupo Villar Mir, S.A.U.) Gulf Manganese Corporation Limited Jiaocheng Yiwang Ferroalloy Co Ltd. OM Holdings Ltd. Sakura Ferroalloys Sdn. Bhd. (Assmang Proprietary Limited) South32 Tata Steel Ltd. Vale S.A.
Ferromanganese Market Segmentation:
Our report has categorized the market based on region, grade and application.
Breakup by Grade:
High Carbon Ferromanganese Refined Ferromanganese
Breakup by Application:
Carbon Steel Stainless Steel Alloy Steel Cast Iron Others
Breakup by Region:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other
Key highlights of the report:
Market Performance (2017-2022) Market Outlook (2023-2028) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
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