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

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 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. 'South32 (Australia)', '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)'

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.

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.

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.