Ferrochrome Global Market Report 2026

Ferrochrome, an alloy of chromium and iron containing between fifty percent and seventy percent chromium, is utilized in the production of highly durable steel. This alloy is formed by melting chromite, an iron magnesium chromium oxide, through the use of an electric arc-an essential process for extracting chromium, a crucial mineral.

The primary types of ferrochrome include high carbon, low carbon, and others. High-carbon ferrochrome is characterized by a composition comprising 4% to 9% carbon, 60% to 70% chromium, and 1% to 3% silicon. It finds application in the manufacturing of stainless steel and high-chromium steels. Various production methods, such as the blast furnace method, electric furnace method, and plasma furnace method, are employed in the production of ferrochrome, and it is utilized in industries such as stainless steel, cast iron, powder metallurgy, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on ferrochrome and chromium ores have impacted the market by increasing import costs and affecting supply chains, especially for high-carbon and low-carbon ferrochrome products. Asia-Pacific regions, particularly south africa and china, are most affected due to their role as key suppliers. Positive impacts include the promotion of local production, enhanced domestic sourcing strategies, and incentivization for the adoption of high-purity and low-emission ferrochrome manufacturing.

The ferrochrome market research report is one of a series of new reports from The Business Research Company that provides ferrochrome market statistics, including ferrochrome industry global market size, regional shares, competitors with a ferrochrome market share, detailed ferrochrome market segments, market trends and opportunities, and any further data you may need to thrive in the ferrochrome industry. This ferrochrome market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ferrochrome market size has grown strongly in recent years. It will grow from $8.68 billion in 2025 to $9.19 billion in 2026 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to growth of stainless steel production, increasing demand for high carbon ferrochrome, adoption of blast furnace method, rising powder metallurgy applications, development of standard high carbon ferrochrome.

The ferrochrome market size is expected to see strong growth in the next few years. It will grow to $11.94 billion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to expansion of low carbon ferrochrome production, increasing electric furnace usage, demand for very low carbon ferrochrome, growth of high purity ferrochrome applications, rising ferrochrome consumption in emerging markets. Major trends in the forecast period include increasing production of stainless steel, adoption of electric furnace and blast furnace methods, focus on high-purity and low-carbon ferrochrome, rising use in powder metallurgy applications, expansion of global ferrochrome distribution networks.

The growth of the ferrochrome market is expected to be boosted by the expanding stainless-steel industry. This sector involves the production and processing of stainless steel, which is an environmentally neutral and inert alloy made from steel, iron, chromium, and other metals. Ferrochrome, a chromium-iron alloy, is widely used in stainless steel production due to its excellent corrosion and oxidation resistance, as well as its strength, hardness, ductility, and other mechanical properties. For example, in January 2024, the Geological Survey reported that the World Steel Association projects a 1.8% increase in global finished steel consumption for 2023, followed by a 1.9% rise in 2024. Thus, the growing stainless-steel industry is driving demand for ferrochrome.

Leading companies in the ferrochrome market are focusing on developing advanced proprietary production technologies to improve sustainability and production efficiency. Proprietary production technology refers to specialized processes that allow scaling up the production of enriched ferrochrome and chromium metal with a lower carbon footprint and higher purity, targeting premium end-use markets. For example, in October 2025, Outokumpu Oyj, a Finland-based company, announced an investment of approximately USD 45 million in a chromium metal and enriched ferrochrome pilot plant in New Hampshire, U.S. The plant is expected to be operational in the first half of 2027 and aims to scale production from pre-pilot levels to one ton per day. The pilot plant will produce enriched ferrochrome with 65% chrome and chromium metal exceeding 90% chrome content using a process that supports melt shop utilization, enables higher-priced external sales, reduces carbon footprint, and opens new pathways for high-purity metals in aerospace, defense, and energy sectors. Following the pilot phase, Outokumpu plans to establish an industrial-scale plant with an annual capacity of around 10,000 tons by 2029-2030 to fully realize the commercial potential of the technology.

In March 2023, Ironveld PLC, a UK-based mining company, acquired Ferrochrome Furnace Ltd for an undisclosed amount. This acquisition aligns with Ironveld's strategy to reduce dependency on a single income source and diversify its holdings. Beyond improving overall financial performance, this acquisition is expected to mitigate risks associated with market fluctuations. Ferrochrome Furnace Ltd., the acquired entity, is based in South Africa and operates in the ferrochrome sector.

Major companies operating in the ferrochrome market report are Glencore PLC., Nippon Steel Corporation, United States Steel Corporation., Outokumpu, Mitsubishi Corporation, Jindal Steel & Power Ltd., Tata Steel Mining Limited., Sinosteel Corporation, Eurasian Resources Group S.a r.l., TNC KAZCHROME JSC, China Baowu Steel Group Corp Ltd., Tharisa PLC., Balasore Alloys Limited, Assmang Limited, Singhania International Limited, Samancor Chrome Ltd., Indian Metals & Ferro Alloys Ltd. (IMFA), Visa Steel Ltd., Fushan Ferroalloy Group, Mintal Group, Westbrook Resources Ltd., Minmat Ferro Alloys Private Limited, Afarak Group, Kermas Group, International Ferro Metals, Mtc Business Private Limited

Asia-Pacific was the largest region in the ferrochrome market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the ferrochrome market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the ferrochrome market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The ferrochrome market consists of sales of charge chrome, high carbon ferro Chrome, and ferrochrome-silico-chrome (FeSiCr). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Ferrochrome Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses ferrochrome market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for ferrochrome ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The ferrochrome market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product Type: High Carbon; Low Carbon; Other Product Types
• 2) By Production Method: Blast Furnace Method; Electric Furnace Method; Plasma Furnace Method
• 3) By Application: Stainless Steel; Cast Iron; Powder Metallurgy; Other Applications
• Subsegments:
• 1) By High Carbon: Standard High Carbon Ferrochrome; High Carbon Ferrochrome
• 2) By Low Carbon: Low Carbon Ferrochrome; Very Low Carbon Ferrochrome
• 3) By Other Product Types: Micro Carbon Ferrochrome; High Purity Ferrochrome
• Companies Mentioned: Glencore PLC.; Nippon Steel Corporation; United States Steel Corporation.; Outokumpu; Mitsubishi Corporation; Jindal Steel & Power Ltd.; Tata Steel Mining Limited.; Sinosteel Corporation; Eurasian Resources Group S.a r.l.; TNC KAZCHROME JSC; China Baowu Steel Group Corp Ltd.; Tharisa PLC.; Balasore Alloys Limited; Assmang Limited; Singhania International Limited; Samancor Chrome Ltd.; Indian Metals & Ferro Alloys Ltd. (IMFA); Visa Steel Ltd.; Fushan Ferroalloy Group; Mintal Group; Westbrook Resources Ltd.; Minmat Ferro Alloys Private Limited; Afarak Group; Kermas Group; International Ferro Metals; Mtc Business Private Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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