Ferromanganese Market to Perceive Substantial Growth by the End 2019

Ferromanganese is a ferroalloy that has high content of manganese; it is manufactured by heating mixture of oxides Fe2O3 and MnO2 along with carbon, which is usually coke and coal in an electric arc furnace or blast furnace. In the furnace, the oxides go through carbothermal reduction, hence, producing ferromanganese which is used as deoxidizer for steel. The major deposits of ferromanganese are found abundant in South Africa, Mexico, France, and Australia among others.

One of the major drivers of ferromanganese market is the growing demand of steel across the globe. Moreover, increasing demand from the aluminum alloy sectors is also expected to fuel the growth of ferromanganese market. Ferromanganese has proved to be essential to steel and iron production owing to their deoxidizing, sulfur fixing and alloying properties. The major consumption of ferromanganese is reported from the steelmaking segment in the U.S. It also has application in aluminum alloys and is used in dry cell batteries in the form of oxide.

Ferromanganese is segmented into two types namely, high carbon ferromanganese and medium carbon ferromanganese. The primary features of this element include good anti-oxidant properties, excellent chemical composition and low melting point. High carbon ferromanganese is an excellent antioxidant with high carbon content and is heat resistant. It has desulphurizing and anti-oxidant properties that has applications in metallurgy, chemical industry and steel industry among others.

Due to environmental health concerns and health hazards, ferromanganese market is expected to experience threat to some extent. High level of exposure to ferromanganese in drinking water is allied with reduced intelligence quotients and intellectual impairment in children. In case of human health, inhalation or ingestion of ferromanganese leads to a rare neurological disorder known as Manganism, which is a restraint to the growing ferromanganese market. South Africa is known to have abundant ferromanganese resources and some trace deposits in India, China, and Australia among others. China is estimated to be the leading producer of ferromanganese among others economies globally but it still relies on imports from South Africa and Ukraine.

The Indian Ferro Alloy Producers Association (IFPA), represents the manufactures of noble and bulk Ferro Alloys in the country. It was established as an auxiliary industry to meet the growing demands and need of the domestic steel industry. This association was established in the year 1961 to take care of the interests of the members of this association. This association has been promoting the interest familiar to the Ferro Alloy producing company, developing synergy and cooperation among the producers in India which leads to the growth of steel industry thereby leading to increase in the demand for ferromanganese in the market.

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Some of the key companies profiled in the ferromanganese market research report are Monnet Group, ISPAT India, Jiaocheng Yiwang Ferroalloy Co, Ltd (Yiwang Ferroalloy), Calcutta Carbide Pvt. Ltd, OM Holdings Limited, Gulf Minerals Corporation Limited among others.

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