The global Ferro Manganese Market Growth Accelerated by Rising Steel Production
Ferro manganese is an important ferroalloy that is used as a deoxidizing and alloying agent in steel production. It also improves the strength and wear resistance properties of steel. The growing steel industry has increased the demand for ferro manganese over the years. Steel is one of the most widely used metals owing to its high strength, ductility and low cost. It finds myriad applications across industries such as construction, automotive, machinery, and appliances. Growth in the construction and infrastructure sectors along with rising automobile production are expected to drive demand for steel. The global Ferro Manganese Market is estimated to be valued at US$ 71 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The rising steel production acts as a major growth driver for the ferro manganese market. Steel accounts for over 95% of the total ferro...