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NEW YORK, Oct. 3, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global manganese mining market size is estimated to grow by USD 10.94 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost
6.78%
during the forecast period. Growing demand for steel
is driving market growth,
with a trend towards
increasing adoption of stainless steel. However,
challenges associated with procurement of manganese ore
poses a challenge. Key market players include 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.
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Technavio has announced its latest market research report titled Global manganese mining market 2024-2028
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
| Manganese Mining Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Decelerate at a CAGR of 6.78% |
| Market growth 2024-2028 |
USD 10940.1 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
6.23 |
| Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
| Performing market contribution |
APAC at 75% |
| Key countries |
China, India, Australia, US, and Brazil |
| Key companies profiled |
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 |
Market Driver
Stainless steel is widely used in various industries due to its superior mechanical properties, formability, and corrosion resistance. The addition of nickel, chromium, and manganese enhances its corrosion resistance and resistance to mechanical damage. In the automotive industry, stainless steel is used to produce axle shafts, steering components, chassis, and seat components, improving vehicle safety. Stainess steel's excellent creep resistance, fatigue resistance, and atmospheric resistance make it suitable for storing and transporting gases and liquids. The automotive sector's focus on minimizing vehicle weight while meeting other requirements drives the demand for high-strength stainless steel. Manganese is a crucial additive in stainless steel production, making the growing use of stainless steel a significant factor in the expansion of the global manganese mining market.
The Manganese mining market is experiencing significant growth due to increasing demand for Manganese alloys in various industries. Silicomanganese and high-carbon ferromanganese are key players in the ferrous alloys segment, used primarily in steel manufacturing for hardness enhancement. Non-ferrous alloys, including aluminum, also utilize Manganese in their production. Manganese is also essential in fertilizers, batteries, and the transport industry. Renewable energy sources, such as wind and solar power, require Manganese for rechargeable batteries. Ferromanganese and Electrolytic Manganese are crucial for the Steel industry. Manganese exposure limits are a concern in the mining sector, with research initiatives focusing on substitute materials and Manganeses. Key Manganese producers include Braunite and Pyrolusite ore types. The manufacturing of steel, building & construction, and energy storage industries are significant consumers of Manganese-based products. Manganese battery manufacturers and research institutions are investing in improving battery performance for Electric vehicles (EVs) and energy storage systems. The mining industry's future lies in meeting the growing demand for these applications while ensuring sustainability and safety.
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Market
Challenges
.
The global manganese mining market faces constraints due to the availability, supply, and price of raw materials, specifically manganese ore. This key mineral source for manganese metal and derivative products is processed using hydrometallurgical and electrolytic processes. South Africa, Ukraine, Brazil, and Australia are significant countries with substantial manganese reserves, enabling them to control the supply and production of manganese at relatively low costs. However, regulatory restrictions and international trade disputes can impact access to these raw materials. The uneven distribution of manganese reserves provides a competitive edge to countries with abundant reserves, potentially affecting pricing and creating a gap between local consumption and exports. Manganese is essential for steelmaking, with no viable substitute, and the declining quality of manganese ore further impacts producer profit margins. These challenges related to the procurement of raw materials, particularly manganese ore, are expected to impede the growth of the global manganese mining market during the forecast period.
.
The Manganese mining industry faces several challenges in meeting the growing demand for Manganese in various sectors. Aluminum alloys and steel production are major consumers, requiring high-quality Manganese for hardness and strength. However, manganese exposure limits are a concern for workers in the mining sector. Renewable energy sources, including wind and solar power, and rechargeable batteries for electric vehicles (EVs) and energy storage systems, are driving demand for Manganese-based products. Ferromanganese and Electrolytic Manganese are essential for steel industry production. Manganese ore is used in various industries, including chemicals, electronics, and steel products. As the market for EVs and renewable energy sources grows, manganese producers must adapt to meet the demand. Substitute materials, such as Manganeses like Braunite, Pyrolusite, Psilomelane, and Rhodochrosite, are being researched to increase efficiency and reduce costs. Manganese battery manufacturers and research institutions are collaborating on research initiatives to improve battery performance and reduce production costs. Lithium-ion batteries, a major consumer of Manganese, are a key focus area. The mining sector must address these challenges to meet the growing demand for Manganese while ensuring worker safety and environmental sustainability.
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Segment Overview
This manganese mining market report extensively covers market segmentation by
Application
Type
2.1 Braunite
2.2 Pyrolusite
2.3 Psilomelane
2.4 Rhodochrosite
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 Middle East and Africa
3.5 South America
1.1
Alloys-
The global manganese mining market is primarily driven by the alloys segment, which was the largest segment in 2023 and is expected to continue its dominance during the forecast period. Manganese is predominantly used in manufacturing various types of alloys to enhance their physical and mechanical properties. Approximately 85% to 90% of all manganese consumed globally is used in iron and steel making as an alloying element. Infrastructure and construction are the primary end-users of manganese in the global mining market, accounting for approximately 50% of the total consumption. Manganese is widely used in steel production as a deoxidizing and desulfurizing agent, preventing the formation of ferrous sulfide and surface cracking. The major grades of manganese alloys used in steel making are high-carbon ferromanganese, refined ferromanganese, and silicomanganese. Apart from steel, manganese is also used in other metallurgical alloy applications, including copper, aluminum, zinc, and titanium. In aluminum alloys, manganese provides anti-corrosion properties and is used as an alloying agent in small amounts. The global steel industry is primarily composed of four major end-users: automotive, infrastructure and construction, mechanical machinery, and metal products, electrical equipment, and domestic appliances. The increasing use of high-strength steel, which offers higher fatigue strength and added toughness, is gaining traction in architectural, industrial, and consumer applications. This trend is expected to drive the demand for steel and other alloy products, including manganese, during the forecast period.
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Research Analysis
Manganese is a vital mineral used in various industries for producing manganese alloys, including silicomanganese and high-carbon ferromanganese, essential for ferrous and non-ferrous alloys. Manganese is a key component in steel production, enhancing its strength and durability. In the renewable energy sector, manganese is used in batteries for wind and solar power, making them more efficient and long-lasting. Rechargeable batteries, including those for electric vehicles, also rely on manganese. Manganese minerals like Braunite, Pyrolusite, Psilomelane, and Rhodochrosite are mined for their high manganese content. Manganese is also used in chemicals, electronics, and steel products. The global manganese mining market is growing due to increasing demand for manganese alloys, steel, and renewable energy sources.
Market Research Overview
Manganese is a vital mineral used extensively in various industries due to its unique properties. Manganese alloys, including silicomanganese and high-carbon ferromanganese, play a significant role in manufacturing ferrous alloys and steel. The building & construction industry utilizes manganese in the manufacturing of steel, while the transport industry relies on it for producing strong and lightweight alloys for vehicles. Manganese is also essential in the production of non-ferrous alloys, such as those used in aluminum, and in the manufacturing of batteries, including those used in renewable energy sources like wind and solar power, and rechargeable batteries like lithium-ion. Manganese ore, which comes in various types like Braunite, Pyrolusite, Psilomelane, and Rhodochrosite, is mined and processed to extract the mineral. The mining industry's manganese segment is growing due to the increasing demand for manganese-based products in various industries. Manganese exposure limits are essential to ensure the safety of workers in the mining industry. Research institutions and battery manufacturers are leading research initiatives to improve battery performance and reduce the reliance on manganese as a critical material in batteries. Manganese is also used in the production of chemicals, electronics, and steel products, making it a versatile mineral with wide-ranging applications. Substitute materials are being explored to reduce the environmental impact of manganese mining, and the mining sector is constantly evolving to meet the demands of various industries. Manganese's role in the manufacturing of steel, production of batteries, and its use in the transport industry, among others, make it a critical mineral for the future of industries like electric vehicles and energy storage systems.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Type
Braunite
Pyrolusite
Psilomelane
Rhodochrosite
Geography
APAC
Europe
North America
Middle East And Africa
South America
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
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