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Insights from Future Market Research
Manganese Market size was 23.21 billion in 2022 and is projected to reach USD 32.70 billion in 2030, the manganese industry is anticipated to expand at a compound annual growth rate (CAGR) of 5.02%. (2022 – 2030).
The use of steel in batteries and rising demand for steel products in the building and infrastructure sector are the main factors boosting market expansion.
Due to rising demand from nations like India, China, and Japan, the Asia-Pacific region holds the second-largest market share for manganese.
Recent building projects have seen an increase in spending due to the increased urbanisation, particularly in developing nations. Because to the increase in investments in China, India, Japan, and other nations, the Asia Pacific region accounts for a significant portion of investments in the construction sector. In addition, the India manganese market had the highest rate of growth in the Asia-Pacific region, while China’s manganese market had the greatest market share.
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Regional Analysis:
The analysis offers market information for North America, Europe, Asia-Pacific, and the rest of the world, organised by region. Over the research period, the North American manganese market, which had a value of $9.53 billion in 2021, is anticipated to develop at a substantial CAGR.
This is due to the expanding usage of steel in the construction of petrochemical facilities, which would increase regional product demand. The increased usage of high- and low-carbon ferromanganese in the production of foundries is another factor contributing to the region’s growth. In addition, the US manganese market had the highest market share, while the fastest-growing market in the European area was the one in Canada.
Moreover, the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, Australia, South Korea, and Brazil are among the important nations examined in the market analysis.
Due to rising demand from nations like India, China, and Japan, the Asia-Pacific region holds the second-largest market share for manganese.
Recent building projects have seen an increase in spending due to the increased urbanisation, particularly in developing nations. Because to the increase in investments in China, India, Japan, and other nations, the Asia Pacific region accounts for a significant portion of investments in the construction sector. In addition, the India manganese market had the highest rate of growth in the Asia-Pacific region, while China’s manganese market had the greatest market share.
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Market Segmentation:
market segmentation according to type and application.
According to type, the manganese market is divided into electrolytic manganese metal, electrolytic manganese dioxide, high carbon ferromanganese, medium carbon ferromanganese, low carbon ferromanganese, and silico-manganese. Silico-manganese was the most popular of these in the global market in 2018 and is expected to continue to hold the top spot throughout the review period. With the expanding construction sector and its expanding applications in it, silico-manganese’s demand is expected to increase in the future. It is used in the production of steel and other alloys.
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Key Players:
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), and Sakura Ferroalloys (Malaysia).
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