Manganese Market Size (2024 - 2029)

The Manganese Market is projected to experience growth over the forecast period, driven by increasing demand in lithium-ion battery production due to the rising popularity of electric vehicles. Despite challenges posed by restrictive governmental policies and environmental concerns, the market is expected to benefit from opportunities in battery applications. The Asia-Pacific region is anticipated to lead in market dominance and growth rate. The post-pandemic recovery of the construction industry is also expected to contribute to the market's expansion.

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Market Size of Manganese Industry

Manganese Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 3.87 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Manganese Market Major Players

*Disclaimer: Major Players sorted in no particular order

Manganese Market Analysis

The Manganese Market size is estimated at 23.24 Million tons in 2024, and is expected to reach 28.10 Million tons by 2029, growing at a CAGR of 3.87% during the forecast period (2024-2029).

During the pandemic scenario in 2020, construction activities were temporarily stopped during the government-imposed lockdown to curb the spread of new COVID-19 cases, which decreased the demand for steel from the construction industry. However, considering the post-pandemic scenario, the construction industry is picking up the pace which is likely to increase the demand for the market in the coming years.

  • Over the short term, the increasing demand for manganese in lithium-ion battery production, owing to the rising demand for electric vehicles, is expected to drive the market's growth.
  • Conversely, unfavorable conditions arising from restrictive governmental policies and growing environmental concerns are expected to hinder market growth.
  • Nevertheless, the usage of manganese in batteries is likely to create lucrative growth opportunities for the global market.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Manganese Industry Segmentation

The manganese market is segmented by application, end-use sector, and geography. By application, the market is segmented into alloys, electrolytic manganese dioxide, electrolytic manganese metals, and other applications. By end-use sector, the market is segmented into industrial, construction, power storage and electricity, and other end-use sectors. The report also covers the market size and forecasts for the manganese market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (tons).

By Application
Alloys
Electrolytic Manganese Dioxide
Electrolytic Manganese Metals
Other Applications
By End-use Sector
Industrial
Construction
Power Storage and Electricity
Other End-use Sectors
By Geography
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Manganese Market Size Summary

The manganese market is poised for growth, driven by its essential role in steel production and the burgeoning demand from the electric vehicle sector. Manganese enhances the hardenability and tensile strength of steel, making it a critical component in construction and infrastructure projects. The post-pandemic recovery in the construction industry is expected to bolster demand, particularly in the Asia-Pacific region, which is anticipated to lead the market due to rapid urbanization and significant investments in infrastructure. However, the market faces challenges from restrictive governmental policies and environmental concerns, which could impede growth. Despite these challenges, the increasing use of manganese in lithium-ion batteries presents lucrative opportunities for market expansion.

The global construction industry, a major consumer of manganese, is projected to experience substantial growth, with significant contributions from countries like India, China, and the United States. The construction sector's demand for steel, which constitutes a large portion of manganese consumption, is supported by initiatives such as the U.S. infrastructure plan and India's real estate expansion. The market is partially consolidated, with key players like Anglo American PLC and Assore Limited influencing its dynamics. Strategic moves, such as South32 Ltd.'s divestment of its stake in a manganese alloy smelter, highlight ongoing shifts within the industry. As the market evolves, the Asia-Pacific region's dominance is expected to continue, driven by increasing industrial production and infrastructure development.

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Manganese Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand of Electric Vehicles

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Price Trends

    6. 1.6 Production Analysis

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 By Application

      1. 2.1.1 Alloys

      2. 2.1.2 Electrolytic Manganese Dioxide

      3. 2.1.3 Electrolytic Manganese Metals

      4. 2.1.4 Other Applications

    2. 2.2 By End-use Sector

      1. 2.2.1 Industrial

      2. 2.2.2 Construction

      3. 2.2.3 Power Storage and Electricity

      4. 2.2.4 Other End-use Sectors

    3. 2.3 By Geography

      1. 2.3.1 Asia Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Manganese Market Size FAQs

The Manganese Market size is expected to reach 23.24 million tons in 2024 and grow at a CAGR of 3.87% to reach 28.10 million tons by 2029.

In 2024, the Manganese Market size is expected to reach 23.24 million tons.

Manganese Market Report Snapshots

Manganese Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)