Globally, the Ferro Manganese Market is expected to grow at a CAGR of about 4% between 2021 and 2028. Ferromanganese is a manganese-rich iron alloy with a high manganese content. It's made in blast or submerged arc furnaces utilising carbothermal reduction using coal and coke. It is frequently utilised in the steel and iron industries as a deoxidizer and desulfurizer. Ferromanganese is usually available in three carbon levels: high, medium, and low. They are used to counteract the effects of sulphur and have great tensile strength, durability, heat resistance, and antioxidant characteristics. As a result, ferromanganese is widely used in a variety of industries, including automotive, construction, aerospace, and military.
One of the primary factors driving the market's growth is rapid industrialization around the world. In addition, rising demand for stainless steel across sectors is propelling the Ferro Manganese Market forward. Ferromanganese is commonly used as a nickel alternative in stainless steel manufacture to increase workability, tensile strength, toughness, and abrasion resistance. Rising demand for low carbon ferromanganese in the welding industry is also contributing to market expansion. Another key growth-inducing aspect is the growing application of high and medium carbon ferromanganese throughout sectors.
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