Ferromanganese Market to Witness Exponential Growth by 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.
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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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