Market Research Future (MRFR) expects the Manganese Market to be worth USD 32,586.9 Million by 2030.
Manganese is a silvery-white metal that is fragile when combined with iron. Manganese has similar physical and chemical properties to iron. Manganese, on the other hand, is more brittle and tougher.
Because of the increase in demand for lithium-ion batteries, the market is anticipated to develop significantly in the near future. Furthermore, increased infrastructure development project investments, increased automotive industry manufacturing, and continuous urbanisation in emerging and developing economies all direct product demand. Other manganese industry-supplementing aspects include cost recovery for manganese ore and manganese ferroalloy, as well as the evolution of modern application markets. Even so, a slowing in steel demand is projected to stifle market growth.
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The market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa on the basis of geography.
From 2021 to 2030, the manganese market in North America is anticipated to remain the most significant regional market. During the projection period, the Europe area is expected to grow at a CAGR of about 4%, and this trend is related to rising demand for steel products across a variety of industries, including chemicals, consumer durables, automotive, and construction.
Due to the high future prospects for the automotive sector and the rising requirement for steel products, the Asia Pacific market is predicted to expand rapidly by more than 4% during the forecast period.It is also anticipated that increased investments from different sectors will massively improve manganese consumption in countries like China and India. It is projected that manganese usage in Latin America will continue to grow as a result of rising regional output and rising demand from new sectors, including mining and petroleum items.
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Basis of application, metallurgical application, end-user industry, and location, the worldwide manganese industry is fragmented into subgroups. The sector is split into alloys and other products according to their application. The market is divided into high-carbon ferromanganese, refined ferromanganese, and silicomanganese based on metallurgical application. The market is divided into steel, batteries, and some other categories according on the end-user market.
The major players in the industry are Transalloy India Pvt Ltd (India), Mesa Minerals Limited (Australia), Autlán (Mexico), Eramet (France), MOIL Limited (India), Ferro Alloys Corporation Limited (FACOR) (India), OM Holdings Ltd (Singapore), Sakura Ferroalloys (Malaysia), Nippon Denko Co. Ltd (Japan), Mizushima Ferroalloy Co. Ltd (Japan), Metals and Alloys Corporation (India),Accura Weldrods Kovai Pvt Ltd (India), African Rainbow Minerals Ltd (South Africa),Afarak Group Plc (Finland), Transalloys (South Africa)
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