The manufacturing business of low-carbon Ferro manganese is a new industry that is still in its infancy. The first Ferro manganese plant was built in China in 2010 and since then the industry has expanded rapidly. Today there are over 80 Ferro manganese plants in China, India, Turkey, Brazil, and the United States. While the majority of these plants are small, modern facilities that produce manganese powder for use in steelmaking, there are also larger plants that produce manganese oxide for use in concrete, manganese-rich paint for use in buildings, and other applications.
Metals such as Ferro manganese have become increasingly important to the industrial sector since 2010.
Visit this Page for More Information: Start a Business in Ferroalloys Production
Click here to send your queries/Contact Us
Current Production Status
Over one decade, Ferro manganese production increased by an average of 3.5% per year. Today, Ferro manganese production is equivalent to about 20% of the global manganese production and accounts for about 7% of global Manganese Ore Production. Total manganese ore production in India in 2015 was 6.4 million MT, of which 3.7 million MT were used for ferrochrome manufacture. In 2015, 87% of the ferrochrome was manufactured in distilleries and 10% was produced in electric furnaces. The iron and steel industry in India has higher manganese ore production than any other industry in the country.
Reasons for the demand of the business
There are numerous reasons for the increased demand for the Business of Low Carbon Ferro Manganese in India. First, India has the world’s largest manganese ore deposits. Second, our growing population coupled with the falling cost of Ferro manganese mining has opened up new markets for the country. Third, the Indian steel industry has faced acute shortages of iron ore and is now turning to Indian manganese ore deposits.
Read Similar Articles: FERROALLOYS
The Indian market for low carbon Ferro manganese has been steadily growing. Though India is a relatively developing country, it has been able to increase manganese ore production sharply over the past decade. Global demand for Ferro manganese is forecast to grow at a compound annual growth rate of 4.1% to 5% over the next decade, according to the World Steel Association.
Market size
The global ferromanganese market size is expected to grow at a CAGR of 2.9% during the forecast period, from USD 84.8 billion in 2020 to USD 112.7 billion in 2025. The growth of the ferromanganese market is being attributed to growing demand in the construction and automotive industries as well as rising demand for ferric sulfate. The Asia Pacific is gaining attention as vendors try to strengthen their position in emerging markets like Vietnam, Malaysia, and India. Moreover, China’s steel industry is expected to return to its normal level over the forecast period, providing lucrative opportunities.
Related Feasibility Study Reports: Ferro Alloys – Low Carbon Ferro Manganese – Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost And Revenue
Key players include-
- Monet Group
- Tata Steel
- Gulf Manganese Corporation Limited
- Vale
- Eurasian Resources Group
- Ferro globe
- China Min metals Group Co., Ltd.
- Eramet Group
- South32
- OM Holdings Ltd.
Read our Books Here: Steel, Iron, Ferrous, Non-Ferrous Metals With Casting And Forging, Aluminums, Ferroalloys Technology
NPCS has served hundred thousands of clients, our experience in Techno-economic feasibility report, Integrated market study, Pre-feasibility study and Comprehensive market survey for estimating potential for Products, combined with our deep understanding of engagement issues across a wide array of industries, has resulted in an extensive and rich portfolio.
If you need information about Business of Low Carbon Ferro Manganese, then contact NPCS. The project report from Entrepreneur India enables you to choose a profitable project for investing in or diversifying into by shedding light on crucial areas including business size, the product’s market potential, and the motivations behind investing in the product. By defining the target client organisation for the product, the study helps you promote and position it effectively.
Click here to send your queries/Contact Us
Reasons for Buying NIIR Report:
- Our research report helps you get a detailed picture of the industry by providing an overview of the industry along with the market structure and classification.
- Our report provides market analysis covering major growth driving factors for the industry, the latest market trends and the regulatory framework of the industry.
- Our Report provides an analysis and in-depth financial comparison of major Players / Competitors.
- Our Report provides indispensable buyers' data with their company financials as well as the contact details, which can be an important tool in identifying the target customers.
- Our report provides forecasts of key parameters which help to anticipate the industry performance.
- We use reliable sources of information and databases. And information from such sources is processed by us and included in the report.
See More Links:
- Start a Business in Asia
- Start a Business in Potential Countries for Doing Business
- Best Industry for Doing Business
- Business Ideas with Low, Medium & High Investment
- Looking for Most Demandable Business Ideas for Startups
- Startup Consulting Services
- Start a Business in Africa
- Start a Business in India
- Start a Business in Middle East
- Related Videos
- Related Books
- Related Projects
- Related Market Research Reports
PM_20Art21