1 Global Manganese Market Outlook
The global Manganese market is projected to exhibit substantial growth in the coming years, with a CAGR of 2.31% from 2024 to 2033, reaching a total market size of $30181 million USD in 2024. Manganese, a critical element in the production of iron and steel, is also used in various other industries such as batteries, chemicals, and electronics. Its unique properties, including its ability to act as a deoxidizer, desulfurizer, and alloying agent, make it indispensable in steelmaking. The market’s growth is driven by the continuous expansion of the steel industry and the increasing demand for manganese in emerging applications such as electric vehicle batteries.
Figure Global Manganese Market Size and Growth Rate (2024-2033)
2 Manganese Market Growth Drivers and Constraints
The growth of the manganese market is influenced by several key factors. On the positive side, the increasing demand from the steel industry, which accounts for over 90% of manganese consumption, is a significant driver. The global steel production has been on an upward trend, with China being the largest producer, contributing to a substantial portion of the world’s steel output. Additionally, the growth of the battery industry, particularly for lithium-ion batteries used in electric vehicles, is creating new opportunities for manganese, as it is used as a cathode material in some battery chemistries.
However, there are also limiting factors that challenge the market’s growth. Environmental regulations pose a significant challenge, as manganese mining and processing can lead to environmental issues such as water pollution and habitat destruction. This has led to stricter regulations in many countries, increasing the cost of compliance for manganese producers. Furthermore, the market is characterized by a low concentration ratio, with the top three companies holding only a small share of the market. This fragmented market structure leads to intense competition, which can limit price increases and profit margins.
In conclusion, the global manganese industry market is navigating a path of growth amidst various challenges and opportunities. While the increasing demand from traditional and emerging sectors provides a robust foundation for expansion, companies must also address environmental concerns and competitive pressures. Technological advancements and strategic corporate actions will play a crucial role in shaping the future of this vital industry
3 Manganese Market Innovations and M&A Activities
Technological innovation in the manganese industry is focused on improving extraction and processing efficiencies, reducing environmental impacts, and developing new applications. For instance, advancements in mining technologies are enabling companies to access lower-grade ores more economically, while new processing techniques are aimed at reducing energy consumption and waste generation. In terms of corporate mergers and acquisitions, the industry has seen several strategic moves aimed at consolidating market positions and expanding product portfolios. For example, Eramet SA’s acquisition of a controlling interest in Mineral Deposits Limited in 2018 was a significant development aimed at strengthening its position in the manganese market.
4 Global Manganese Market Analysis by Type
In 2024, the global manganese market is forecasted to have a total value of 30,181 million USD. Specifically, the value of alloys (FeMn, SiMn, Refined FeMn, & Others) is projected to be 26,411 million USD, accounting for 87.51% of the market share. Meanwhile, the value of electrolytic manganese is expected to reach 3,770 million USD, holding a market share of 12.49%. This distribution reflects the continued dominance of alloys in the manganese market, with electrolytic manganese also maintaining a significant presence.
Table Global Manganese Market Size and Share by Type in 2024
|
Type |
Market Size in 2024 (M USD) |
Market Share in 2024 (%) |
|---|---|---|
|
Alloys (FeMn, SiMn, Refined FeMn, & Others) |
26411 |
87.51% |
|
Electrolytic Manganese |
3770 |
12.49% |
5 Global Manganese Market Analysis by Application
In 2024, the global manganese market is forecasted to have a total value of 30,181 million USD. The application in the steel industry is expected to account for the largest share, with a value of 24,776 million USD, representing 82.10% of the total market value. The battery sector is projected to have a value of 3,233 million USD, holding a market share of 10.71%. Other applications are anticipated to contribute a value of 2,171 million USD, making up 7.19% of the market. This distribution highlights the significant role of the steel industry in driving the demand for manganese, while the growth in the battery sector also indicates its increasing importance in the market.
Table Global Manganese Market Size and Share by Application in 2024
|
Application |
Market Size in 2024 (M USD) |
Market Share in 2024 (%) |
|---|---|---|
|
Steel |
24776 |
82.10% |
|
Batteries |
3233 |
10.71% |
|
Others |
2171 |
7.19% |
6 Global Manganese Market Analysis by Region
In 2024, the global manganese market is forecasted to have a total value of 30,181 million USD, with a diverse regional distribution. North America is expected to contribute 1,098 million USD, accounting for 3.64% of the global market value. Europe is projected to have a market value of 3,231 million USD, representing 10.71% of the total. China, being a major player, is anticipated to contribute 18,748 million USD, which is 62.13% of the global market. Japan is forecasted to have a market value of 710 million USD, holding a 2.35% share. The Middle East and Africa are expected to contribute 964 million USD, making up 3.20% of the market. India is projected to have a market value of 3,406 million USD, accounting for 11.29%. Lastly, South America is expected to contribute 890 million USD, which is 2.95% of the global market value. This forecast underscores the significant role of China in the global manganese market, along with substantial contributions from Europe, India, and other regions.
Figure Global Manganese Market Share by Region in 2024
7 Top 3 Companies of Global Manganese Market
7.1 Eramet SA
Company Introduction and Business Overview:
Eramet SA, established in 1880, is a global mining and metallurgy group headquartered in France. The company is a key player in the extraction and recovery of metals such as manganese, nickel, and mineral sands. Eramet is also involved in the development and processing of high-value alloys, including high-speed steels, high-performance steels, superalloys, and aluminum and titanium alloys. With a strong presence in Europe and a global sales network, Eramet has established itself as a leader in the manganese industry.
Products Offered:
Eramet offers a range of manganese products, primarily focusing on manganese alloys. These include ferro-manganese (FeMn) and silico-manganese (SiMn), which are essential in steelmaking. The company’s products are used to improve the mechanical properties of steel, such as strength and toughness, and to remove impurities like sulfur and oxygen. Eramet’s manganese alloys are used in various applications, from basic steel production to the manufacturing of high-strength industrial manganese steels.
Sales Revenue in the Latest Year:
In the latest year, Eramet reported a production of 681 thousand tons of manganese, with a price of 1,159 USD per ton. The total value of manganese sales was 789 million USD. The company maintained a gross margin of 9.49%, reflecting its efficiency in managing production costs and maintaining competitive pricing in the market.
7.2 Sheng Yan Group
Company Introduction and Business Overview:
Sheng Yan Group, founded in 2000 and based in China, is a leading player in the manganese industry. The company is engaged in mining, processing, and production of manganese ore and alloys. With a strong focus on the domestic market and a growing international presence, Sheng Yan Group has expanded its operations to meet the increasing demand for manganese products globally.
Products Offered:
Sheng Yan Group produces a variety of manganese products, including silicomanganese, carbon ferromanganese, and manganese slag and iron. The company’s silicomanganese alloy is particularly notable, with specifications such as a minimum manganese content of 65.5%, a Mn/Fe ratio of at least 4.67, and a P/Mn ratio of less than or equal to 0.003. These products are used in steelmaking and foundry activities, contributing to the quality and performance of the final steel products.
Sales Revenue in the Latest Year:
In the latest year, Sheng Yan Group produced 419 thousand tons of manganese, priced at 1,024 USD per ton. The total sales revenue from manganese operations was 429 million USD, with a gross margin of 10.04%. The company’s focus on quality and innovation has helped it maintain a competitive edge in the market, despite the challenges posed by the global economic environment.
7.3 Ferroglobe
Company Introduction and Business Overview:
Ferroglobe, established in 2015, is one of the world’s largest producers of silicon metal and its alloys, as well as manganese alloys. The company operates in France, Spain, South Africa, and Venezuela, with a global sales network. Ferroglobe uses state-of-the-art technology in its production processes, supplying critical ingredients for various industrial and consumer products, from silicones to solar power cells, and from steel to aluminum foundry components.
Products Offered:
Ferroglobe offers a range of manganese alloys, including ferromanganese, which is used as a deoxidizer, desulfurizer, and degasser in steel production. The company’s products are categorized into different grades such as FeMn MC, FeMn LC, and FeMn HC, each designed to meet specific industrial requirements. These alloys are crucial in improving the mechanical properties of steel and enhancing its performance in various applications.
Sales Revenue in the Latest Year:
In the latest year, Ferroglobe produced 380 thousand tons of manganese, with a price of 1,058 USD per ton. The total value of manganese sales was 402 million USD, and the company achieved a gross margin of 8.25%. Ferroglobe’s ability to adapt to market changes and maintain operational efficiency has been instrumental in its continued success in the manganese industry.