Global Ferromanganese Market to Grow at 3.77% During 2025-2033, Impelled by Rapid Industrialization

January 30, 2025 | Chemical & Materials

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The latest report by IMARC Group, titled "Ferromanganese Market Report by Grade (High Carbon Ferromanganese, Refined Ferromanganese), Application (Carbon Steel, Stainless Steel, Alloy Steel, Cast Iron, and Others), and Region 2025-2033," finds that the global ferromanganese market size reached USD 78.5 Billion in 2024. Ferromanganese is an iron alloy with high manganese content. It is produced by heating a mixture of the oxides MnO and FeO with carbon in a blast furnace or a submerged arc furnace. It is commonly available in high, medium, and low-carbon variants and is widely used as a deoxidizer and desulfurizer in steel and iron production. It also exhibits high durability, tensile strength, heat resistance, and antioxidant properties and is used for countering the effects of sulfur. As a result, ferromanganese finds extensive applications across the automotive, construction, aerospace, and defense industries.

Global Ferromanganese Market Trends:

The market is primarily driven by rapid industrialization across the globe. In addition, the increasing demand for stainless steel across industries represents another major growth-inducing factor. Ferromanganese is widely used as a substitute for nickel to manufacture stainless steel with tensile strength, improved workability, toughness, and abrasion resistance. Besides this, the rising product adoption across metallurgy and chemical industries as heat-resistant antioxidants and desulphurizing agents is positively influencing the market growth. Moreover, the market is further propelled by the increasing utilization of low-carbon ferromanganese in the welding industry. Looking forward, the market value is projected to reach USD 112.7 Billion by 2033, expanding at a CAGR of 3.77% during 2025-2033.

Market Summary:

Based on the grade, the market has been bifurcated into high-carbon and refined ferromanganese.
On the basis of the application, the market has been segmented into carbon steel, stainless steel, alloy steel, cast iron, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being 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., and Vale S.A.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Grade, Application, Region
Region Covered	Asia-Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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. and Vale S.A
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Ferromanganese Market to Grow at 3.77% During 2025-2033, Impelled by Rapid Industrialization

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