The growing stainless steel industry is expected to boost the overall growth of the ferrochromium market, more commonly known as ferrochrome. This is according to Market Research Reports Search Engine (MRRSE), the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click.
Ferrochrome is a chromium alloy which contains about 30 to 50% of the iron. There is a considerable variation in ferrochromium depending on its specific application in the various end-use industries. Ferrochromium is usually used for incorporating iron into steel that has various applications. The production of stainless steel is one of the major applications of the ferrochromium. Ferrochrome having a chromium content of about 10 to 20% is widely used in manufacturing the stainless steel. Ferrochromium is available in various forms such as charge chromium, ferrochromium-silica, silicochromium, chromium silicide and low carbon among others.
The increasing demand for stainless steel for hostile industrial applications is expected to augment the overall growth of the ferrochrome market. The growing demand for the high end stainless steel grade especially in the various critical fields of the emerging infrastructure of the oil and gas, water treatment, nuclear plant, thermal power plant and desalination plant is expected to boost the global demand for ferrochromium. The type of ferrochromium differs with the type of the stainless steel manufactured.