USD 28.23 billion
Manganese Market Size, Share, Growth Analysis, By Type(Ferromanganese, silicomanganese, and electrolytic manganese), By Application(Alloys, Electrolytic Manganese Dioxide, Electrolytic Manganese Metals and Other), By End User(Industrial, Construction, Power Storage/ Electricity and Other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2288 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
90
|Figures:
76
Manganese Market Insights
Manganese Market size was valued at USD 28.23 billion in 2022 and is poised to grow from USD 30.77 billion in 2023 to USD 61.31 billion by 2031, growing at a CAGR of 9% in the forecast period (2024-2031).
The global manganese market is experiencing significant growth and offers promising opportunities for market players. The demand for manganese is primarily driven by its extensive use in steel production, as it enhances the strength and durability of steel.
The growing construction and automotive industries are major contributors to the increasing demand for steel, thereby boosting the demand for manganese. Additionally, the rising focus on renewable energy sources such as wind and solar power is driving the demand for manganese in the production of rechargeable batteries.
Furthermore, emerging economies with expanding infrastructure projects are fueling the demand for manganese. However, the market faces challenges such as price volatility and environmental concerns related to manganese mining and extraction.
To overcome these challenges, market players are investing in technological advancements and sustainable mining practices to ensure a steady supply of manganese while minimizing environmental impact.
Overall, the global manganese market is poised for growth, driven by the robust demand from steel production, renewable energy, and infrastructure sectors.
US Manganese Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Ferromanganese
Fastest Growth
Ferromanganese
Growth Rate
9% CAGR
Global Manganese Market ($ Bn)
Country Share for North America Region (%)
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Manganese Market Segmental Analysis
Global Manganese Market is segmented by Type, By Application, By End User and Region. Based on Type, the market can be segmented into Ferromanganese, silicomanganese, and electrolytic manganese . Based on Application, the market can be segmented into Alloys, Electrolytic Manganese Dioxide, Electrolytic Manganese Metals and Other. Based on End User, the market is segmented into Industrial, Construction, Power Storage/ Electricity and Other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Manganese Market Analysis by Type
Ferromanganese is the dominant sub-segment in the type segment of the Global Manganese market. It is a high-carbon alloy containing iron and manganese and is widely used in the steel industry for its ability to improve the strength and hardness of steel. Ferromanganese is produced through the smelting process and is available in different grades based on its carbon content.
The fastest growing sub-segment in the testing type segment of the Global Manganese market is electrolytic manganese. Electrolytic manganese is produced through an electrolysis process and is known for its high purity and low impurity content. It finds applications in various industries such as batteries, electronics, and chemical manufacturing. The increasing demand for lithium-ion batteries and the growing electronics industry are driving the growth of electrolytic manganese as a sub-segment in the Manganese market.
Global Manganese Market By Type
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Manganese Market Regional Insights
One dominant region in the global manganese market is South Africa. South Africa is a major producer of manganese, accounting for a significant share of the global manganese production. The country is known for its vast manganese reserves and well-established mining infrastructure. It benefits from favorable geology and mining expertise, enabling efficient extraction and processing of manganese ores. South Africa's manganese production contributes to its economy and supports job creation in the mining sector.
One of the fastest-growing regions in the global manganese market is Asia Pacific. The Asia Pacific region is experiencing rapid industrialization and urbanization, driving the demand for manganese-based products, particularly in sectors such as steel production, construction, and automotive manufacturing. Countries like China, India, and Japan are the key consumers of manganese in the region. The increasing infrastructure development and construction activities, coupled with the growing automotive industry, are fuelling the demand for manganese alloys and other manganese-based products. As a result, the Asia Pacific region is witnessing significant growth in manganese consumption and is expected to continue to be a major market for manganese in the coming years.
Global Manganese Market By Geography
- Largest
- Fastest
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Manganese Market Dynamics
Manganese Market Drivers
Increasing Demand For Manganese In The Steel Industry
- One key driver of the global manganese market is the increasing demand for manganese in the steel industry. Manganese is an essential element in the production of steel, as it helps improve the strength, hardness, and durability of the steel. With the growth of the construction, automotive, and infrastructure sectors worldwide, there is a consistent demand for steel, thereby driving the demand for manganese. Additionally, the rising popularity of electric vehicles and renewable energy infrastructure further boosts the demand for manganese in the battery and energy storage industries.
Manganese Market Restraints
Fluctuating Prices Of Manganese Ore
- A major restraint in the global manganese market is the fluctuating prices of manganese ore. The market is highly sensitive to factors such as supply and demand dynamics, geopolitical tensions, and economic conditions. Any imbalance in these factors can result in significant price volatility. This volatility can pose challenges for both producers and consumers of manganese, impacting their profitability and planning. Moreover, the presence of substitute materials in certain applications, such as lithium-ion batteries in the energy storage sector, can also limit the growth of the manganese market.
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Manganese Market Competitive Landscape
The global manganese market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Manganeses. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Manganese Market Top Player’s Company Profiles
- BHP Group (Australia)
- Vale S.A. (Brazil)
- Anglo American plc (United Kingdom)
- Eramet SA (France)
- Assmang Proprietary Limited (South Africa)
- Consolidated Minerals Limited (Australia)
- China Molybdenum Co., Ltd. (China)
- Tshipi é Ntle Manganese Mining (South Africa)
- MOIL Limited (India)
- Gulf Manganese Corporation Limited (Australia)
- Maxtech Ventures Inc. (Canada)
- Meridian Mining SE (Brazil)
- Giyani Metals Corp. (Canada)
- Euro Manganese Inc. (Canada)
- Ferroglobe PLC (United Kingdom)
- Jilin Shanwei Wollastonite Mining Co., Ltd. (China)
- Minera Autlan S.A.B. de C.V. (Mexico)
- Ningxia Tianyuan Manganese Industry Co., Ltd. (China)
- Jupiter Mines Limited (Australia)
Manganese Market Recent Developments
- In January 2023, ManganeseTech Ltd, a leading player in the industry, unveiled a revolutionary extraction technology that significantly improves the efficiency and sustainability of manganese mining, resulting in increased production and reduced environmental impact.
- In March 2023, a group of major manganese battery manufacturers and research institutions collaborated to launch a research initiative aimed at improving the performance and durability of manganese-based batteries. The consortium aims to develop innovative solutions that can make manganese batteries more competitive with other battery technologies.
Manganese Key Market Trends
- One key market trend in the global manganese market is the increasing demand for electric vehicles (EVs) and energy storage systems. Manganese is a vital component in the production of lithium-ion batteries, which are widely used in EVs and energy storage devices. As the adoption of electric vehicles and renewable energy sources continues to grow, the demand for manganese is expected to rise significantly. Manganese offers several advantages, including high energy density, improved battery performance, and longer battery life. This trend is driven by the global shift towards sustainable transportation and renewable energy, creating a favorable market outlook for manganese producers and suppliers.
Manganese Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global manganese market refers to the industry that encompasses the production, trade, and consumption of manganese, a critical metal used in various industries. Manganese is primarily used in the production of steel, where it acts as an alloying element to enhance the strength and durability of steel. It is also used in the production of batteries, fertilizers, and other applications. The market is driven by the increasing demand for steel globally, particularly in emerging economies. However, the market is also influenced by factors such as fluctuations in manganese prices, environmental concerns, and geopolitical factors that can impact the production and supply of manganese. Overall, the global manganese market plays a vital role in supporting various industries and economic growth worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 28.23 billion |
| Market size value in 2031 | USD 61.31 billion |
| Growth Rate | 9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Manganese Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Manganese Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Manganese Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Manganese Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Manganese Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Manganese Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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