Global Ferrochrome Market 2019-2023| Industry Analysis and Forecast| Technavio

Technavio’s global ferrochrome market research report projects the market to grow at a CAGR of around 7% during the forecast period.

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Technavio has released a new market research report on the global ferrochrome market for the period 2019-2023. (Graphic: Business Wire)

The consolidation of the global ferrochrome market will be one of the major trends in the global ferrochrome market during 2019-2023. The decline in the ferrochrome prices continued until 2016 and the low-price period lasted for almost 5 years. The vendors stopped ferrochrome production due to financial losses from the oversupply of ferrochrome. The exit of ferrochrome vendors and the growing demand from China is a major reason for consolidation of the market since 2016.

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According to Technavio analysts, one of the key drivers for the global ferrochrome market is the increase in demand for ferrochrome from developing countries:

Global ferrochrome market: Increase in demand for ferrochrome from developing countries

In developing economies such as China, India, South Africa, Brazil, and Indonesia, the global ferrochrome market has been witnessing high growth. The use of ferrochrome for the production of stainless steel and other alloy steel in developing countries is anticipated to drive market growth. Several vendors have been shifting their manufacturing sites to India, South Africa, China, and Zimbabwe.

According to a senior research analyst at Technavio, “The increasing population, disposable income, and purchasing power in developing countries of APAC and Latin America have led to higher investment in the construction and automobile industries. The rising demand for passenger cars in APAC is also expected to drive the growth of the ferrochrome market.”

Global ferrochrome market: Segmentation analysis

This global ferrochrome market analysis report provides market segmentation by product (charge chrome and high carbon, low carbon, and medium carbon), by end-user (stainless steel, carbon and other alloy steels, and others), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the three major products, the charge chrome and high carbon segment held the largest ferrochrome market share in 2018, contributing to around 93% of the market. This product segment will dominate the global market throughout the forecast period.

The APAC region held the largest share of the market in 2018, accounting for close to 72% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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