Ironveld Plc has finally signed the Share Purchase Agreement (SPA) to acquire 100% of the shares of Ferrochrome Furnaces Limited. This acquisition is aimed at using the smelting production unit and commencing mining and processing.
Tata Steel Mining Limited, a subsidiary of Tata Steel has announced its decision to increase its ferrochrome production capacity to 900,000 tonnes per year.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 5045
Published Date: Jun 17, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The increasing production of steel and rapid growth of end-use industries is anticipated to bring in lucrative growth opportunities for the expansion of market size.
The market size of ferrochrome is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Ironveld Plc, Tata Steel Mining Limited (Tata Steel Limited), Samancor Chrome Limited, Ferro Alloys Corporation Limited, Eurasian Resources Group S.Ã r.l., Hernic Ferrochrome (Pty) Ltd. (Mitsubishi Corporation), Sandvik AB, Daido Steel Co., Ltd., China Baowu Steel Group Corp., Ltd., Merafe Resources, and other key players.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application, and by region.
The stainless steel segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Easy availability of alternatives along with the high requirement of electricity amounts and stringent government rules are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.