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The manganese mining market size is estimated to grow at a CAGR of 6.21% between 2022 and 2027 with the market size forecast to increase by USD 9.38 billion.
This manganese mining market report extensively covers market segmentation by Application (alloys and others), Type (braunite, pyrolusite, psilomelane, and rhodochrosite), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The growth of the market depends on several factors such as the growing demand for steel, the advances in manganese battery technology, and the increasing demand for aluminum in the automotive industry.
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Glycolic Manganese is used extensively in steel production for desulfuration and deoxidation. It enhances the tensile strength, wear resistance, weldability, and hardness of steel. It is also used with aluminum, copper, and other elements to make different alloys. Manganese is generally found as pyrolusite, braunite, psilomelane, and rhodochrosite. Pyrolusite is the most important type of manganese ore.
The alloy segment is estimated to witness significant growth during the forecast period. Manganese is mainly used in the production of various alloys to improve their mechanical properties. Manganese alloys are widely used in steelmaking as a deoxidizer and desulfurizer. The main types of manganese alloys used in steelmaking are classified into three main types, which are high carbon ferromanganese, refined ferromanganese (medium carbon and low carbon), and silicomanganese.
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The alloy segment was the largest segment and was valued at USD 19.23 billion in 2017. Some factors that will increase sales of high-strength steel are the strategic positioning and product portfolio expansion of high-strength steel manufacturers. In addition, stainless steel and galvanized steel are also experiencing significant growth. The growing use of these steel products in automotive, construction, and other sectors is expected to boost demand for steel and other alloy products, which will further boost the growth of the global manganese mining market during the forecast period.
Based on type, the braunite segment holds the largest market share. Braunite, a manganese-rich mineral, holds a significant role in the global manganese mining industry due to its unique composition and properties. It stands out as a sought-after material for metallurgical processes, contributing to the broader steel and alloy sectors. With its rich manganese and iron content, braunite finds applications in various industries, including construction, transportation, and manufacturing, thanks to its durability and suitability for alloys. Despite its limited geographic distribution compared to other manganese minerals, the specialized mining techniques required underscore its value in niche markets. These factors are poised to drive growth in the global manganese mining market during the forecast period.
APAC is estimated to contribute 73% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The manganese mining market in APAC is driven by manganese applications in sectors such as automotive, transportation, and construction. Manganese is used in steel and aluminum alloys used in the automotive and construction industries.
Moreover, the existence of major auto manufacturers in APAC countries such as China, India, Japan, and Korea will grow the demand for steel and aluminum used in the production of various auto components. Additionally, increased automobile production in China, India, Japan, and other auto-producing countries in the region will boost the demand for steel and aluminum and thus the demand for manganese during the forecast period.
Advances in manganese battery technology is the key factor driving the growth of the market. Rapid technical advancements in batteries make manganese even more important as it is used to produce batteries for electric vehicles and other renewable energy applications. Magnesium batteries have a potential advantage because they have a better robust supply chain, are more durable, and may have lower raw material costs than lithium-ion batteries.
Furthermore, manganese is used in nickel-metal hydride batteries, used in hybrid vehicles, such as the Toyota Prius; Manganese is also used in manganese dioxide batteries. Such advancements have led to the growth of the global manganese battery market. Therefore, such factors are expected to drive the growth of the global manganese mining market during the forecast period.
Increasing adoption of stainless steel is the primary trend in the market. The use of stainless steel in industrial applications is standard practice due to its strength, durability, performance, and corrosion resistance. The corrosion resistance of stainless steel is improved by additives such as nickel and chromium, as well as manganese. These additives also provide resistance to mechanical damage.
Moreover, the use of stainless steel enhances the corrosion resistance of steel products. Stainless steel also has excellent creep resistance, fatigue resistance and mechanical properties, raised strength, formability, weldability, and weather resistance. Manganese is widely used in stainless steel production. Therefore, the increasing usage of stainless steel may drive the growth of the global manganese mining market during the forecast period.
Challenges associated with procurement of manganese ore affecting the growth of the market. Manganese ore is the main raw material used to produce manganese. The supply of raw materials largely depends on the availability and exploitation of raw materials. Fluctuating raw material prices and limited raw material (manganese ore) resources make it difficult for manganese producers to maintain stable operating costs and maintain profit margins.
Moreover, manganese plays a key role in steelmaking because of its ability to combine with sulfur. In fact, steel production is indispensable without manganese. There are no manganese substitutes in steel alloys. In addition, the quality of mined manganese ore is decreasing, which further affects the profit margins of manganese producers. Therefore, challenges related to the availability and supply of raw materials, such as manganese ore, are expected to impede the growth of the global manganese mining market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arm.co.za- The company offers manganese mining for high quality manganese ore from black rock mine.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
African Rainbow Minerals Ltd., Anglo American plc, Asia Minerals Ltd., CITIC Ltd., Consolidated Minerals Ltd., Element 25 Ltd., Eramet, Ferroglobe Plc, Giyani Metals Corp., Grupo Buritipar, Guangxi Jinmeng Manganese Industry Co. Ltd., Hickman Williams and Co., Maithan Alloys Ltd., Manganese X Energy Corp, Marubeni Tetsugen Co. Ltd., Mesa Minerals Ltd., MOIL LTD., Nava Ltd., OM Holdings Ltd., and Vale SA
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Manganese Mining Market Customer Landscape
Manganese Mining Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.21% |
Market growth 2023-2027 |
USD 9.38 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.5 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 73% |
Key countries |
US, China, India, Australia, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
African Rainbow Minerals Ltd., Anglo American plc, Asia Minerals Ltd., CITIC Ltd., Consolidated Minerals Ltd., Element 25 Ltd., Eramet, Ferroglobe Plc, Giyani Metals Corp., Grupo Buritipar, Guangxi Jinmeng Manganese Industry Co. Ltd., Hickman Williams and Co., Maithan Alloys Ltd., Manganese X Energy Corp, Marubeni Tetsugen Co. Ltd., Mesa Minerals Ltd., MOIL LTD., Nava Ltd., OM Holdings Ltd., and Vale SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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