New York (US), May 23, 2023 (GLOBE NEWSWIRE) -- Manganese Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Manganese Market Information by Type, Application, and Region - Forecast till 2030”, Manganese market is projected to grow from USD 23.21 billion in 2022 to USD 32.70 billion by 2030, exhibiting CAGR of 5.02%
Market Synopsis
Manganese is a chemical element with the symbol Mn and atomic number 25. It is a silvery-grey metal that is widely used in various industries. One of the primary uses of manganese is in the production of steel and other alloys. It is used as a deoxidizer and desulfurized, which helps to remove impurities from steel and improve its strength, durability, and resistance to wear and tear. Manganese is also an important component in the construction industry, where it is used to produce high-strength steel for buildings, bridges, and other infrastructure.
Manganese is also used in the production of batteries, particularly in the cathodes of lithium-ion batteries. It helps to improve the stability and performance of the battery, making it an important component in the production of electric vehicles and other electronic devices. The demand for manganese for this application is expected to grow significantly in the coming years, driven by the increasing popularity of electric vehicles and the growing demand for renewable energy storage solutions.
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Market Competitive Landscape:
The affluent companies in the Manganese industry include
- Transalloy India Pvt Ltd
- Mesa Minerals Limited
- Autlán
- Eramet
- MOIL Limited
- Ferro Alloys Corporation Limited
- OM Holdings Ltd
- Sakura Ferroalloys
- Nippon Denko Co. Ltd
- Mizushima Ferroalloy Co. Ltd
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | 2030: USD 32.70 billion |
| CAGR | 5.02% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | · Increasing demand for electricity globally and technological advancement. · Technological advancements expected to be transpired in the recent future will certainly provide cost effective solutions which will drive the market growth continually |
Browse In-depth Market Research Report (177Pages) Manganese:
https://www.marketresearchfuture.com/reports/manganese-market-7724
October 2021
South32 Ltd announced plans to spin off its South African Energy Coal unit and focus on its core businesses, including manganese production. This move is expected to strengthen the company's position in the manganese market and increase its profitability.
Market USP Covered:
Market Drivers:
The growing demand for steel and other alloys is one of the primary factors driving growth in the manganese market. The construction and manufacturing industries are the main consumers of these alloys. Manganese is a crucial component in the production of steel, and its use in alloy steels increases the strength, toughness, and durability of the material. As the construction and manufacturing industries continue to grow, particularly in emerging economies, the demand for manganese in the production of steel and other alloys is expected to increase significantly.
Another factor driving growth in the manganese market is the increasing use of manganese in the production of lithium-ion batteries. The demand for electric vehicles and other battery-powered devices is growing rapidly, and manganese is a key component in the cathodes of these batteries. Manganese is an attractive material for battery manufacturers because it is abundant, low-cost, and has a high energy storage capacity. The increasing use of manganese in the production of batteries is expected to significantly boost demand for manganese in the coming years.
Market Restraints:
The manganese market is subject to several restraints, one of which is the fluctuation of prices due to oversupply and market demand. Manganese production is often cyclical, and supply is influenced by factors such as weather conditions, geopolitical issues, and production decisions by major mining companies. As a result, the supply of manganese can be highly volatile, leading to fluctuations in prices. Oversupply and weak demand can cause prices to fall, while supply shortages can cause prices to rise sharply. Such price volatility can be a significant challenge for producers, as it makes it difficult to plan investments and manage cash flow effectively.
In addition to price volatility, the manganese market is also affected by regulatory and environmental factors. Mining and environmental regulations can have a significant impact on the production and supply of manganese. For instance, strict environmental regulations and permitting requirements can limit the development of new mining projects, leading to a tighter supply of manganese. Similarly, regulatory changes can also impact the demand for manganese by changing the requirements for its use in various applications.
COVID 19 Analysis
The COVID-19 pandemic had a significant impact on the manganese market, as it disrupted global supply chains and caused a decline in demand for manganese from certain industries. However, the market is expected to recover in the post-COVID scenario, as the global economy recovers and industries such as construction, manufacturing, and battery production increase their demand for manganese.
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Market Segmentation
By Type
The Type in the market includes High Carbon Ferromanganese, Medium Carbon Ferromanganese, Low Carbon Ferromanganese, Silico-Manganese, Electrolyte Manganese Metal, and Electrolyte Manganese Dioxide.
By Application
The Application in the market includes Coloring Agent, Oxidizing Agent, Alloying Additive, Polarizer, and Others.
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Regional Insights
The Asia Pacific region is expected to dominate the manganese market due to its large construction and manufacturing industries, particularly in China and India. North America and Europe are also significant markets for manganese, driven by the increasing demand for electric vehicles and the growing popularity of renewable energy sources. Latin America and the Middle East are also expected to experience growth in the manganese market due to their expanding construction and manufacturing industries.
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