The Global Market for Manganese is Projected to Reach 28 Million Metric Tons by 2024
Growing Use of Manganese in
Next-Generation Lithium-Ion Batteries for Powering Eco-Friendly Electric
Vehicles Drives Global Market Growth, According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Manganese market. The
global market for Manganese is projected to reach 28 million metric tons by 2024,
driven by growing use of Manganese for developing powerful, longer lasting
lithium-ion batteries for electric vehicles, and positive outlook for infrastructure
development projects and automobile production.
Manganese
(Mn), a hard and brittle chemical element is the 4th most consumed metal in the
world, behind only aluminum, iron, and copper, and is also the 5th most
abundant metal in the world. Generally found in combination with iron,
manganese is the 12th most abundant element found in the earth's crust and also
the 2nd most abundant heavy metal in the world. The steel industry represents
the largest consumer of manganese with more than 90% of global manganese used
in manufacturing all kinds of steel as well as cast iron. There is no known
perfect substitute for manganese, particularly with respect to its critical
applications in steelmaking. Various attributes of the metal that transform
steel into a highly useful engineering material and are driving its widespread
adoption in steelmaking over the years include regular conditioning;
deoxidizing and desulphurising effects; qualities of strength; impact resistance;
wear resistance, hardness as well as hardenability, stiffness and toughness.
Future
growth in the market will be driven by growing usage of NiMH and Li-ion batteries in
storage battery applications, electric vehicles and consumer applications. With
electric vehicles forecast to constitute more than 33% of the total new cars
sold globally by 2040, the demand for electrolytic manganese dioxide (EMD)
batteries from North American, Japanese and European markets is forecast to
surge in the near term. Lithium-
Manganese Dioxide (Li/MnO2) batteries account for a major share of the
primary Lithium batteries market, given their low cost and safe operations
compared to other types of batteries. Another market opportunity for Manganese emerges
from non-metallurgical applications including micronutrients in animal feed,
and chemicals used as colorant for bricks, textiles, car undercoat paints,
glass, and tiles. Growing demand for stainless steel in aesthetic construction
is also spurring opportunities for ferromanganese. Recent innovations in the
green energy sector are boosting demand for electrolytic manganese metal (EMM)
and electrolytic manganese dioxide (EMD).
As
stated by the new market research report on Manganese,
Asia-Pacific represents the largest and the fastest growing market worldwide
with a CAGR of 4.6% over the analysis period. Emergence of Asia as the
manufacturing hub for automobiles is the primary factor benefiting growth in
the region. Steady pace of economic development, industrialization, rapid
urbanization, steady rise in construction activity and robust demand for
automobiles among others will help boost demand for steel in the region over
the next few years. Although currently witnessing a decline, China remains the
largest regional market for finished steel products, owing to the huge
construction and industrial activity in the region, which generates high demand
for a range of steel products.
Key
players in the market include African Rainbow Minerals Limited, Anglo American
plc, Assmang Proprietary Limited, Compania Minera Autlan, S.A.B. De C.V.,
ERACHEM Comilog Inc., Eramet SA, Eurasian Natural Resources Corporation
Limited, Gulf Manganese Corporation Limited, Manganese Metal Company (Pty)
Ltd., MaxTech Ventures Inc., MOIL
Limited, Ningxia Tianyuan Manganese Industry Co. Ltd., Consolidated Minerals
Limited, Nippon Denko Company Ltd., OM Holdings Limited, South32 Limited, Tosoh
Corporation, Tronox Limited, and Vale S.A., among others.
The
research report titled “Manganese: A
Global Strategic Business Report” announced by Global Industry Analysts
Inc., provides a comprehensive
review of market trends, drivers, mergers, acquisitions and other strategic
industry activities of major companies. The report provides market estimates
and projections in Metric Tons for all major geographic markets including the US,
Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of
Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America
(Brazil, Mexico, and Rest of Latin America), and Rest of World. The global and
regional markets for Manganese are analyzed by the product segments, including
Alloys (Ferro Manganese Alloy, Silico Manganese Alloy, Refined Ferro Manganese
Alloy, and Other Alloys), and Electrolytic Manganese. The report also analyzes
the global and regional markets for Manganese by the following end use segments:
Steel, Batteries and Others.
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enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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