Manganese Market

• Growing Steel Industry to boost the market growth

The industry is expected to witness significant growth over the forecast period, owing to a surge in demand for lithium-ion batteries. Moreover, increasing investments in infrastructure development projects, automobile production, and rapid urbanization in emerging economies drive market growth. The other supplementing factors of the market are the recovery in prices of both ore and ferroalloy and the emergence of new application markets.

Further, rising investments in residential and non-residential construction projects are anticipated to increase steel demand in the US, which is therefore anticipated to impact the market across the forecast period positively. For instance, in April 2022, Google declared its plan to invest USD 9.5 billion in constructing its data centers and offices across the US. The company invests in Virginia, Oklahoma, Tennessee, Boulder, Pittsburgh, Cambridge, and Austin. 

Additionally, the automobile industry has always sought materials that can provide enhanced strength to the body structure of the automobile. Steel has been the material of choice for cars and commercial vehicle manufacturers for constructing vehicle bodies owing to its high strength-to-weight ratio and excellent impact resistance. As the automotive industry is expected to rejuvenate post- COVID-19 owing to the growing spending capacity of people, especially in Asian and Latin American countries, the steel demand is expected to gain traction during the forecast period.

Besides, the demand for commercial vehicles for logistics and heavy works is also gaining impetus in the market, which shall be a vital reason behind the lucrative growth in the demand for alloy steels and, in turn, shall fuel the growth of the overall market during the forecast period. Therefore, the rising demand for the product from automobiles has enhanced the manganese market CAGR in recent years.

However, demand for stainless steel from various industrial sectors observed steady growth over the past few years, which positively influenced the production dynamics. The use of it to substitute nickel in stainless steel production has widely gained popularity around the globe. Thus, the market is projected to be driven by a steady production of stainless steel over the forecast period, the major factor driving the growth of the manganese market revenue.

The Global Global Manganese Market Industry is projected to experience substantial growth over the coming years. With a market valuation of 25.6 USD Billion in 2024, it is anticipated to reach 43.9 USD Billion by 2035. This growth trajectory indicates a compound annual growth rate of 5.02% from 2025 to 2035. Such projections reflect the increasing demand for manganese across various sectors, including steel production, battery manufacturing, and chemical applications. Stakeholders in the industry should remain vigilant to capitalize on these growth opportunities.

The burgeoning electric vehicle (EV) market plays a pivotal role in shaping the Global Global Manganese Market Industry. Manganese is increasingly utilized in lithium-ion batteries, which are essential for EVs. As governments worldwide implement stricter emissions regulations and promote green technologies, the demand for EVs is expected to rise significantly. This shift towards electrification may lead to a substantial increase in manganese consumption, further driving market growth. The integration of manganese in battery technology not only enhances performance but also contributes to the overall sustainability of the EV sector.

The Global Global Manganese Market Industry is influenced by various market dynamics and trade policies that shape supply and demand. Changes in tariffs, trade agreements, and export restrictions can significantly impact manganese availability and pricing. For instance, countries rich in manganese resources may impose export quotas to ensure domestic supply, affecting global market dynamics. Additionally, geopolitical tensions can lead to uncertainties in trade flows, prompting industries to seek alternative sources. Understanding these dynamics is crucial for stakeholders to navigate the complexities of the manganese market effectively.

The Global Global Manganese Market Industry experiences a robust demand surge primarily driven by the steel production sector. Manganese is a crucial alloying element in steel manufacturing, enhancing strength and durability. As global infrastructure projects expand, the need for high-quality steel rises, contributing to the market's growth. In 2024, the market is valued at approximately 25.6 USD Billion, reflecting the increasing reliance on manganese in steelmaking. This trend is expected to continue, with projections indicating a market value of 43.9 USD Billion by 2035, suggesting a compound annual growth rate of 5.02% from 2025 to 2035.

Technological innovations in mining processes significantly impact the Global Global Manganese Market Industry. Enhanced extraction techniques and automation improve efficiency and reduce operational costs, making manganese production more viable. For instance, the adoption of advanced geological modeling and automated drilling systems allows for more precise mining operations. These advancements not only increase manganese yield but also minimize environmental impact, aligning with global sustainability goals. As mining operations become more efficient, the overall supply of manganese is likely to stabilize, supporting the industry's growth trajectory.

The Global Global Manganese Market Industry benefits from the expanding applications of manganese in various alloys and chemical processes. Manganese is a vital component in producing aluminum alloys, which are widely used in the aerospace and automotive industries. Additionally, manganese compounds are essential in manufacturing fertilizers and other chemicals, reflecting its versatility. As industries seek to enhance product performance and sustainability, the demand for manganese in these applications is likely to grow. This diversification of manganese usage may contribute to the industry's resilience against market fluctuations.

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America manganese market accounted for USD 9.53 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the increasing use of steel for setting up petrochemical plants, which will boost product consumption in this region. The growth in this region is further attributed to the rising use of high & low-carbon ferromanganese in the manufacturing of foundries.

Further, the US manganese market held the largest market share, and the Canada manganese market was the fastest-growing market in the European region.

Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  MANGANESE MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

The Asia-Pacific manganese market accounts for the second-largest market share due to growing demand from the countries such as India, China, and Japan. With rapid urbanization, especially in developing economies, investments in recent construction projects have been growing over recent years. Asia Pacific has a prominent share in the construction sector investments ly due to the growth in investments in China, India, Japan, and other countries. Moreover, China manganese market held the largest market share, and the India manganese market was the fastest-growing market in the Asia-Pacific region.

The Europe manganese Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the rapid growth in the automobile industry has surged the demand for steel in Europe. This growth is attributable to the rising advancements in cars and trucks to make them lightweight. Further, the Germany manganese market held the largest market share, and the UK manganese market was the fastest-growing market in the European region.

Major market players are investing much money in R&D to increase their product lines, which will help the Manganese market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as recent product establishment, product development, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other enterprises. Competitors in the manganese industry must offer cost-effective items to enhance and survive in an increasingly competitive and growing market environment.

One of the primary business strategies manufacturers adopts in the manganese industry to benefit clients and enhance the market sector is manufacturing locally to decrease operating costs. In recent years, the manganese industry has provided significant benefits to the market. The manganese markets major players, such as Transalloy India Pvt Ltd (India), Mesa Minerals Limited (Australia), Autlán (Mexico), and others, are working to enhance the market demand by investing in research and development activities.

Milwaukee Tool has led the company in developing innovative solutions that deliver increased productivity and unmatched durability for professional construction users. Over the past few years, the enterprise has invested heavily in technology and innovation across our power tool, power tool accessories, and hand tool businesses. In April 2021, Milwaukee Tool, a U.S.-based manufacturer, developer, and seller of power tools, announced a plan to expand its presence in the country by opening a manufacturing facility in Grenada, Mississippi, in the US, and it started its operations by late 2022.

Also, Rabisons Alloys Private Limited was incorporated on 20 January 2022. It is classified as a Non-govt firm and is registered at the Registrar of Companies, Cuttack. Its authorized share capital is Rs. 1,500,000, and its paid-up capital is Rs. 100,000. It is involved in the Casting of metals [This group includes casting finished or semi-finished products producing various goods, all characteristic of other activity classes. In May 2022, Rabisons Alloys planned to set up a silico manganese manufacturing unit in the Visakhapatnam district of Andhra Pradesh. The unit will have a capacity of 1.2 lakh tpa.