Ferro Alloys

Ferro alloys are an essential input in the manufacturing of special steel and alloys. These alloys impart special properties to steel regarding hardness and tensile strength. These alloys improve steel’s resistance to corrosion, abrasion, and wear. 

The growth of the ferroalloys industry is directly linked to the growth of India’s iron and steel industry. Currently, India dominates the market as the largest ferroalloy producer in the world, exporting principal ferroalloys like manganese, silicon, and chromium. 

The product series mostly revolves around ferrosilicon, ferromanganese, silicomanganese, and ferrochrome. Most of these product series are exported to the United Arab Emirates, Italy, and Taiwan. 

In terms of value, India exported nearly 818,012t ferro alloys in the fiscal year 2018, with a market size estimated at around USD 45 billion. However, the global recession, disruptions in the supply chain, and the country’s limited production have resulted in a relatively flat trade pattern in the export of ferroalloys. Still, India managed to export nearly USD 122 million worth of ferroalloys, which is expected to grow at a CAGR of over 5.5% by 2025.