Ferrochrome Market size was USD 19.06 billion in 2022 and is expected to Reach USD 26.08 billion by 2030 and grow at a CAGR of 4.0% over the forecast period of 2023-2030.

Ferrochrome also known as ferrochromium (FeCr) is a type of ferroalloy material which is made up of chromium and iron. The Production is done by carbothermic reduction at high temperatures. Ferrochrome contains average 60% chromium by weight. These are widely used in the manufacture of casting, stainless steel, and specialty steel material to enhance their anticorrosive and appearance properties. The average content of FeCr is 18%. The fluctuation of the price of Ferrochrome and availability of raw materials impact the demand and supply chain, as it mostly consumes ferrochrome. The characteristic of Ferrochrome are high melting point, heat and wear-resistant, alloying agent, anticorrosive, High chromium content, magnetic properties, and recycling potential.

Ferrochrome Market Revenue Analysis

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FeCr is produced by chromium-containing ore with low carbon content (also known as "charge chrome") and high carbon content. FeCr, a high-grade chromium-containing ore, is widely used in stainless steel Production. Ferrochrome is in general classified by the amount of carbon (high carbon, medium carbon, and low carbon), By Application Stainless Steel, Cast Iron, Powder Metallurgy, Other, by region, and chrome it contains.
The Asia-Pacific is the dominate production and consumer sector in ferrochrome market. ferrochrome market is boosted by the increasing Production of stainless steel in India and China. The huge application of ferrochrome material is to manufacture stainless steel and special steel used in automobiles and construction industries drives the demand.



  • The huge application of ferrochrome material to manufacture stainless steel is followed by specialty steel and other applications

  • Economic growth with rising GDP and rapid industrialization has led to increased FeCr demand in the manufacturing of steel

As stainless steel is mostly used in large residential buildings, transportation, and infrastructure projects, Previously, stainless steel used to be an expensive material, but over the last decade, research and development have made it affordable, increased recycling potential, and increased durability. They are used in the Production of alloys that are used in nuclear reactor vessels, gas turbine blades, and other applications of boost ferrochrome used in the energy and power generation industries.


  • The presence of substitute Types of ferrochrome material in market

Carbon fiber can be a better substitute for Stainless steel, as carbon fiber is light weight, high strength, and anticorrosive material then steel. Decrease in demand for Stainless steel can impact FeCr demand proportionately


  • As the countries increases investment in construction of bridge, residential buildings, road elevates the ferrochrome demand.

As ferrochrome is the primary source of stainless steel the ferrochrome material market has gained demand with usage of stainless steel proportionally. As the countries increases investment in construction of bridge, smart buildings, road. these all-demand manufacture of stainless steel and special steel. Other than that, features of Ferrochrome like heat and wear-resistant, alloying agent, anticorrosive, magnetic properties, and high melting point, and recycling potential add on usage in automobiles and energy and power generation industries.


  • Large amount of electricity consumed and raw material like chromium needed for production of ferrochrome can be the challenge in this ferrochrome market domain.


Both Russia and Ukraine are significant players in the ferrochrome producer category. These wars had negatively impacted on every industry globally. These wars impacted people's livelihoods, disrupted imports and exports, caused regional market instability. Due to war few industries in Ukraine were closed for a particular period effected production and logistics had for a long-term. The sanctions imposed on Russia create instability in the supply and demand chain. Reduced availability of ferrochrome material supply from these countries disrupts the supply chain, causing a high price rise for customers. In these cases, they may search for alternatives or delay projects. These all factors impacted the global ferrochrome market, decreasing its size. But after some time, this may adjust to changing geopolitical situations.


Over the last few years, due to the rise in inflation, every country has been impacted by the price rise of commodities and services. All industrial sectors, such as automotive, machinery, and infrastructure sectors. The demand for ferrochrome material decreases trade, supply, and long-term performance. During a recession, there is a delay in economic activities in every sector, such as manufacturing, construction, automotive, and machinery. These are major consumers of stainless steel. Investors and bankers will become cautious before investing in small-scale industries, new projects, and startups. Small industries may be acquired by large players. Every industry will delay production to avoid losses due to the price rise of ferrochrome and mining processes carried out at that time. Hence, inflation may have an impact on global levels. Many initiatives have been taken by government to tackle these conditions.


By Type

  • High Carbon

  • Medium Carbon

  • Low Carbon

  • Ferro Silico Chrome

By Application

  • Stainless Steel

  • Cast Iron

  • Powder Metallurgy

  • Others

Ferrochrome Market Segmentation Analysis

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The Asia-Pacific region dominates the Production and consumption sectors of the ferrochrome market, as China is one of the largest producers and users of ferrochrome material, driven by large infrastructure projects. In Asia, countries like China, India, and other countries with large populations and a developing economy are the major users.

Countries in the Europe region like Kazakhstan, South Africa, and Russia have abundant chrome ore reserves and well-developed mining activities; therefore, these countries are prominent producers.

 In the North America region, the United States has many infrastructure and automotive sectors, which make them major consumers of stainless steel and indirectly drive market growth. The Middle East, Africa, and Latin America have seen significant growth in their markets.


North America

  • USA

  • Canada

  • Mexico


  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe


  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin American


Eurasian Resources Group, Merafe Resources Ltd., Hernic Ferrochrome Ltd, TATA Steel, International Ferro Metals Ltd., Samancor Chrome Ltd., Ferro Alloys Co. Ltd., Shanxi Jiang County Minmetal Co Ltd., Daido Steel Co. Ltd, Glencore, and other key players are mentioned in the final report.

Eurasian Resources Group-Company Financial Analysis


Tata Steel- In 2023 Tata Steel has taken a step further towards digitalisation by launched an online portal for sales of Ferro Alloys and other minerals online. It will enable customers to mining to place order and track status on real time basis of placed order.

Ferrochrome Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 19.06 Bn
Market Size by 2030  US$ 26.08 Bn
CAGR   CAGR of 4.0% From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (High Carbon, Medium Carbon, Low Carbon, Ferro Silicon Chrome)
• By Application (Stainless Steel, Cast Iron, Powder Metallurgy, Other)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Eurasian Resources Group, Merafe Resources Ltd., Hernic Ferrochrome Ltd, TATA Steel, International Ferro Metals Ltd., Samancor Chrome Ltd., Ferro Alloys Co. Ltd., Shanxi Jiang County Minmetal Co Ltd., Daido Steel Co. Ltd, Glencore
Key Drivers • The huge application of ferrochrome material to manufacture stainless steel is followed by specialty steel and other applications.
• Economic growth with rising GDP and rapid industrialization has led to increased FeCr demand in the manufacturing of steel.
Market Opportunities • As the countries increases investment in construction of bridge, residential buildings, road elevates the ferrochrome demand.


Frequently Asked Questions

Ans: USD 26.08 billion is the projected Ferrochrome market size of market by 2030.

Ans: The CAGR Growth rate of Ferrochrome Market over the forecast period is 4%.

Ans: USD 19.06 billion is the projected market size of the Ferrochrome Market.

Ans. Asia Pacific is the major dominating region in Ferrochrome Market


  • The huge application of ferrochrome material to manufacture stainless steel is followed by specialty steel and other applications.
  • Economic growth with rising GDP and rapid industrialization has led to increased FeCr demand in the manufacturing of steel.

Table of Contents

1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World
4.3 Supply Demand Gap Analysis

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Ferrochrome Market Segmentation, By Type
8.1 High Carbon
8.2 Medium Carbon
8.3 Low Carbon
8.4 Ferro Silicon Chrome

9. Ferrochrome Market Segmentation, By Application
9.1 Stainless Steel
9.2 Cast Iron
9.3 Powder Metallurgy
9.4 others

10. Regional Analysis
10.1 Introduction
10.2 North America North America Ferrochrome Market by Country North America Ferrochrome Market by Type North America Ferrochrome Market by Application
10.2.4 USA USA Ferrochrome Market by Type USA Ferrochrome Market by Application
10.2.5 Canada Canada Ferrochrome Market by Type Canada Ferrochrome Market by Application
10.2.6 Mexico Mexico Ferrochrome Market by Type Mexico Ferrochrome Market by Application
10.3 Europe
10.3.1 Europe Ferrochrome Market by Country
10.3.2 Europe Ferrochrome Market by Type
10.3.3 Europe Ferrochrome Market by Application
10.3.4 Germany Germany Ferrochrome Market by Type Germany Ferrochrome Market by Application
10.3. UK UK Ferrochrome Market by Type UK Ferrochrome Market by Application
10.3.6 France France Ferrochrome Market by Type France Ferrochrome Market by Application
10.3.7 Italy Italy Ferrochrome Market by Type Italy Ferrochrome Market by Application
10.3.8 Spain Spain Ferrochrome Market by Type Spain Ferrochrome Market by Application
10.3.9 The Netherlands Netherlands Ferrochrome Market by Type Netherlands Ferrochrome Market by Application
10.3.10 Rest of Europe Rest of Europe Ferrochrome Market by Type Rest of Europe Ferrochrome Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Ferrochrome Market by Country
10.4.2 Asia Pacific Ferrochrome Market by Type
10.4.3 Asia Pacific Ferrochrome Market by Application
10.4.4 Japan Japan Ferrochrome Market by Type Japan Ferrochrome Market by Application
10.4.5 South Korea South Korea Ferrochrome Market by Type South Korea Ferrochrome Market by Application
10.4.6 China China Ferrochrome Market by Type China Ferrochrome Market by Application
10.4.7 India India Ferrochrome Market by Type India Ferrochrome Market by Application
10.4.8 Australia Australia Ferrochrome Market by Type Australia Ferrochrome Market by Application
10.4.9 Rest of Asia-Pacific APAC Ferrochrome Market by Type APAC Ferrochrome Market by Application
10.5 The Middle East & Africa
10.5.1 The Middle East & Africa Ferrochrome Market by Country
10.5.2 The Middle East & Africa Ferrochrome Market by Type
10.5.3 The Middle East & Africa Ferrochrome Market by Application
10.5.4 Israel Israel Ferrochrome Market by Type Israel Ferrochrome Market by Application
10.5.5 UAE UAE Ferrochrome Market by Type UAE Ferrochrome Market by Application
10.5.6 South Africa South Africa Ferrochrome Market by Type South Africa Ferrochrome Market by Application
10.5.7 Rest of Middle East & Africa Rest of Middle East & Asia Ferrochrome Market by Type Rest of Middle East & Asia Ferrochrome Market by Application
10.6 Latin America
10.6.1 Latin America Ferrochrome Market by Country
10.6.2 Latin America Ferrochrome Market by Type
10.6.3 Latin America Ferrochrome Market by Application
10.6.4 Brazil Brazil Ferrochrome Market by Type Brazil Africa Ferrochrome Market by Application
10.6.5 Argentina Argentina Ferrochrome Market by Type Argentina Ferrochrome Market by Application
10.6.6 Rest of Latin America Rest of Latin America Ferrochrome Market by Type Rest of Latin America Ferrochrome Market by Application

11 Company Profile
11.1 Eurasian Resources Group
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services /Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Merafe Resources Ltd.
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services /Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Hernic Ferrochrome Ltd
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services /Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 International Ferro Metals Ltd.
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services /Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Samancor Chrome Ltd.
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services /Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Ferro Alloys Co. Ltd.
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services /Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Shanxi Jiang County Minmetal Co Ltd.
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services /Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Daido Steel Co.
11.8.1 Market Overview
11.8.2 Financials
11.8.3 Product/Services /Offerings
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 TATA Steel
11.9.1 Market Overview
11.9.2 Financials
11.9.3 Product/Services /Offerings
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Glencore
11.10.1 Market Overview
11.10.2 Financials
11.10.3 Product/Services /Offerings
11.10.4 SWOT Analysis
11.10.5 The SNS View

12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments

13. USE Cases and Best Practices

14. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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