Ferromanganese is a ferroalloy with high manganese content. High-carbon ferromanganese can contain as much as 80% of Manganese by weight. It is made by heating a mixture of the oxides MnO2 and Fe2O3, with carbon generally as coal or coke in either a blast furnace or an electric arc furnace-type system, called a submerged arc furnace. The oxides undergo carbo-thermal reduction in the furnaces, producing the ferromanganese. Ferromanganese is used as a deoxidizer for steel. The demand for ferro alloys has been rising rapidly with that of alloy and special steels. The global ferroalloys market size was estimated at USD 44.9 billion in 2019 and is forecasted to grow a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027. The global increase in steel production is an important factor driving the market growth. Ferroalloys impart special characteristics to steel such as improved hardness, resistance to corrosion, higher abrasion resistance, enhanced tensile strength at extreme temperatures and significant creep strength. Therefore, they represent significant raw materials to the iron and steel industry. China emerged as the leading player in the global market in 2019. China produced approximately 53% of the global crude steel in 2019, according to the World Steel Association. As a result, there is a massive demand for ferroalloys in China and other regions of world as well. The emergence of the COVID-19 pandemic is likely to significantly affect the steel output worldwide which in turn, is expected to hamper the ferroalloys market in 2020. However, the quick economic recovery of the country since March 2020 is expected to soften the global impact to some extent.