Manganese Mining Market Analysis APAC, Europe, North America, Middle East and Africa, South America - China, India, Australia, US, Brazil - Size and Forecast 2024-2028

Manganese Mining Market Size 2024-2028 

The manganese mining market size is projected to increase by USD 10.94 billion, at a CAGR of 6.78% between 2023 and 2028. The market witnesses growth driven by pivotal factors reshaping the mining industry. With the growing demand for steel in the construction and manufacturing sectors, there's an increased need for manganese, a key alloying element. Furthermore, advancements in manganese battery technology drive the demand for high-purity manganese, essential for battery production. Additionally, the rising demand for aluminum in the automotive industry underscores its importance as a crucial component in aluminum alloys, further fueling market growth. This dynamic market landscape emphasizes the significant role of manganese mining in supporting various industrial sectors worldwide. This market research and growth report includes an in-depth analysis of the key market drivers, trends, and challenges. 

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

This 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) and geography APAC, Europe, North America, Middle East and Africa, and South America. 

Application Insights

The alloys segment is estimated to witness significant growth during the forecast period. It 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 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 alloys segment was the largest segment and was valued at USD 19.23 billion in 2018. 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 market during the forecast period.

Regional Analysis

APAC is estimated to contribute 75% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.

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The market in APAC is driven by its applications in sectors such as automotive, transportation, and construction. It 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 automobile manufacturing countries in the region will boost the demand for steel and aluminum and, thus, the lead to market growth during the forecast period.

Market Dynamics and Customer Landscape

The market plays a pivotal role in various industries, including construction, infrastructure, transport, automotive, aerospace, marine, locomotive, food, textile, and steel production, supplying ferrous and non-ferrous alloys essential for residential, commercial, and industrial applications. Manganese alloys like silicomanganese and high-carbon ferromanganese contribute significantly to battery production, while the mining sector supports revenue generation and metric ton production, extracting ores such as pyrolusite, psilomelane, and manganite, essential for building and construction projects worldwide. Research initiatives are enhancing the efficiency and performance of manganese in the transport industry and steel manufacturing, particularly in the electrolytic manganese sector, vital for metals and ore type considerations in the manganese mining industry.

Key Market Driver

Advances in manganese battery technology are the key factor driving the growth of the market. The rapid evolution in battery technology underscores the increasing significance, particularly in the production of batteries for electric vehicles and various renewable energy applications. Notably, these batteries offer a distinct advantage, leveraging a more robust supply chain, enhanced durability, and potentially lower raw material costs compared to lithium-ion counterparts.

Moreover, it finds extensive application in nickel-metal hydride batteries utilized in hybrid vehicles like the Toyota Prius, alongside its role in manganese dioxide batteries. Such technological strides have spurred growth within the global market, fostering innovation and market development. Consequently, these dynamics are poised to fuel the growth trajectory of the market in the foreseeable future, especially in sectors such as automotive, infrastructure, and manufacturing, where these alloys and other derivatives are integral components.

Significant Market Trends

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. 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. it is widely used in stainless steel production. Therefore, its increasing usage may drive the growth of the global market during the forecast period.

Major Market Challenges

Challenges associated with procurement of manganese ore are affecting the growth of the market. The 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 the producers to maintain stable operating costs and maintain profit margins.

Moreover, it 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 substitutes in steel alloys. In addition, the quality of mined manganese ore is decreasing, which further affects the profit margins of the 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 market during the forecast period.

Key Companies & Market Insights

Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and resulting of market growth analysis.

Armco za- The company offers manganese-mining for high-quality manganese-ore from black rock mine.

The  market  growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

African Rainbow Minerals Ltd., Anglo American plc, Asia Minerals Ltd., BHP Group plc, CITIC Ltd., Consolidated Minerals Ltd., Element 25 Ltd., Eramet, Ferroglobe Plc, 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

The market analysis and report of 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.

Exclusive Customer Landscape

The market forecasting 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 market growth and forecasting growth strategies.

Global Market Customer Landscape

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Market Analyst Overview

The market is crucial for the production of high-carbon ferromanganese and various ferrous alloys, essential in numerous industries. Additionally, it plays a vital role in supplying non-ferrous alloys required for different applications. Despite facing challenges such as revenue losses due to market fluctuations, the market continues to thrive, with production measured in metric tons. Manganese ores like pyrolusite, psilomelane, and manganite are mined extensively to meet demand in sectors such as building & construction, infrastructure, passenger vehicles (PV), and aerospace. Furthermore, manganese is essential for marine and locomotive industries, as well as in the food and textile sectors, highlighting its diverse applications and significance in global trade.

Further, the market is indispensable in the production of fertilizers and is vital for various sectors, including residential and commercial construction. Additionally, it plays a crucial role in the manufacture of light commercial vehicles (LCV) and heavy commercial vehicles (HCV), contributing to the robustness of the transport segment. With the World Steel Association recognizing its significance, manganese is extensively used in the production of cast iron and ferrous alloys, essential for diverse manufacturing of steel industry. As demand surges, new mining projects are underway to ensure a stable supply of iron ore for steel production, mitigating concerns such as steel brittleness. Moreover, with the rising adoption of renewable energy sources like wind power and solar power, it is increasingly sought after for its application in rechargeable batteries, particularly in lithium-ion battery facilities producing NMC (nickel manganese cobalt) cathode materials. Despite its significance, the market faces challenges such as price volatility, particularly impacting infrastructure projects in emerging economies.

Moreover, the market encompasses various ore types and caters to the ferrous alloys segment, vital for industrial applications. As manganese exposure limits rise, the industry focuses on maintaining manganese-based products' quality while adhering to regulations. Manganeses, crucial for lithium-ion batteries in the electronics and energy storage industries, enhances battery performance. Research initiative by research institutions and manganese battery manufacturers aim to optimize manganese usage in electric vehicles (EVs) and energy storage systems. Manganese producers play a pivotal role in meeting the demand for efficient and performance-driven materials, despite challenges posed by substitute materials and the hardness of steel. The market also involves chemicals essential for mining processes and product development.

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What are the Key Data Covered in this Manganese Mining Market Research Report?

• CAGR of the market forecast during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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