Manganese Market Share

Global Manganese Market Overview

The manganese market size was valued at USD 24.37 billion in 2023. The manganese industry is projected to grow from USD 25.59 billion in 2024 to USD 37.87 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.02% during the forecast period (2024 - 2032). Growing demand for steel products in the construction & infrastructure industry and using it in batteries are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Manganese Market Trends

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  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.

Manganese Market Segment Insights

Manganese Type Insights

The manganese market segmentation, based on type, includes high-carbon ferromanganese, medium-carbon ferromanganese, low-carbon ferromanganese, silico-manganese, electrolyte manganese metal, and electrolyte manganese dioxide. The silico-manganese held the major share 2021 to the manganese market revenue due to rising production and consumption of steel. Silico manganese is utilized in steel manufacturing to improve its properties, such as strength, flexibility, and corrosion resistance. However, electrolyte manganese metal is the fastest-growing category due to the growing usage of electrolyte manganese metal in batteries both for lithium-ion rechargeable batteries and non-rechargeable alkaline cells. The manganese market is growing quickly when battery storage becomes an extremely important part of the energy source. However, a few companies offer a lower grade, which goes best with battery materials.

September 2021: Vinay Alloy Steels Pvt. Ltd., a producer of ferroalloys, decided to invest USD 270 million to set up a high-carbon ferro manganese production project in Nagpur, Maharashtra, India. The project involves the installation of a submerged arc furnace with a 2*6 mega volt ampere capacity to produce pig iron, and ferrosilicon.

Manganese Application Insights

The manganese market data has been bifurcated by application into coloring agents, oxidizing agents, alloying additives, polarizers, and others. The alloying additive segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. It is primarily used for strengthening the alloys of aluminum and copper. However, the coloring agent is the fastest-growing category over the forecast period due to the growing demand for coloring agents in the automotive industry. Hence, positively impacts market growth.

Figure 1:  Manganese Market, by Application, 2021 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Manganese Regional Insights

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, MRFR 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.

Manganese Key Market Players & Competitive Insights

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.

Key Companies in the Manganese market include

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  Transalloy India Pvt Ltd (India)

  
  


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  Mesa Minerals Limited (Australia)

  
  


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  Autlán (Mexico)

  
  


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  Eramet (France)

  
  


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  MOIL Limited (India)

  
  


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  Ferro Alloys Corporation Limited (FACOR) (India)

  
  


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  OM Holdings Ltd (Singapore)

  
  


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  Sakura Ferroalloys (Malaysia)

  
  


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  Nippon Denko Co. Ltd (Japan)

  
  


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  Mizushima Ferroalloy Co. Ltd (Japan)

  
  


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  Metals and Alloys Corporation (India)

  
  


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  Accura Weldrods Kovai Pvt Ltd (India)

  
  


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  African Rainbow Minerals Ltd (South Africa)

  
  


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  Afarak Group Plc (Finland)

  
  


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  Transalloys (South Africa), among others

  
  

Manganese Industry Developments

August 2020: South32 Ltd. declared that it would sell its entire stake in the manganese alloy smelter, Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance and thereby expanding the business of GFG Alliance.

Manganese Market Segmentation

Manganese Type Outlook

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  High Carbon Ferromanganese

  
  


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  Medium Carbon Ferromanganese

  
  


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  Low Carbon Ferromanganese

  
  


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  Silico-Manganese

  
  


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  Electrolyte Manganese Metal

  
  


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  Electrolyte Manganese Dioxide

  
  

Manganese Application Outlook

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  Coloring Agent

  
  


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  Oxidizing Agent

  
  


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  Alloying Additive

  
  


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  Polarizer

  
  


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  Others

  
  

Manganese Regional Outlook

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  North America

  
  

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    US

    
    
  
  
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    Canada

    
    
  
  
  
  

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  Europe

  
  

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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America