What is Ferro Manganese - Global Market?
Ferro Manganese is a ferroalloy product which is made by heating a mixture of iron and manganese ore with carbon in a furnace. It is a raw material used in the production of steel. Not only does this alloy make a material with superior properties, but it also has a very high melting point. It is used in the production of steel for its superior deoxidizing properties and is also beneficial for its sulfur-fixing, anti-oxidant, and alloying properties. The global market for Ferro Manganese has been growing steadily over the years.
High Carbon, Medium Carbon, Low Carbon in the Ferro Manganese - Global Market:
The Ferro Manganese market is segmented into High Carbon, Medium Carbon, and Low Carbon based on the carbon content. High Carbon Ferro Manganese is the most commonly used and has a manganese content of 70-80%. It is used in the production of steel and cast iron. Medium Carbon Ferro Manganese is used for making tool steel and structural steels, while Low Carbon Ferro Manganese is used in the manufacturing of high-quality flat steels. Each type has its own unique properties and uses in different industries.
Deoxidizer, Alloying Element Additive, Others in the Ferro Manganese - Global Market:
Ferro Manganese is used in various areas such as a Deoxidizer, Alloying Element Additive, among others. As a deoxidizer, it is used in steel production to remove oxygen from the molten metal. As an alloying element additive, it is used to improve the strength, hardness, and resistance of steel and iron products. Other uses of Ferro Manganese include the production of low-cost stainless steel, specialty steels, and it is also used in the manufacturing of aluminum alloys.
Ferro Manganese - Global Market Outlook:
The global Ferro Manganese market has been showing a steady growth. In 2022, the market was valued at US$ 4384.1 million and it is expected to reach US$ 5331.3 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period from 2023 to 2029. The major players in this market include CITIC Jinzhou Metal, Yiwang Ferroalloy, Erdos, Tianjin Jinsheng, Sincerity, Sanhuan, Sheng Yan Group, Glencore, SAIL, Nikopol, and Zaporozhye. These companies collectively hold about 18% of the market shares.
| Report Metric | Details |
| Report Name | Ferro Manganese - Market |
| Forecasted market size in 2029 | US$ 5331.3 million |
| CAGR | 2.8% |
| Forecasted years | 2023 - 2029 |
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| Global Ferro Manganese market, Segment by Type: |
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| Global Ferro Manganese market, by Application |
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| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
