The global manganese alloy market was valued at $24.7 billion in 2021, and is projected to reach $44.0 billion by 2031, growing at a CAGR of 6% from 2022 to 2031.
Manganese alloys are metals that contain some percentage of magnesium, carbon, sulfur, and other trace elements. They are strong, ductile, and extremely corrosion resistant. They serve as a deoxidizer of molten steel and controls its sulfur content. In addition, they enhance strength and hardness of the alloy and its resistance to corrosion. They are used in high-temperature, stainless, & manganese steels and in nickel, chromium, & aluminum alloys. They are also used as a catalyst during preparation of oxygen from potassium chlorate.
Factors such as increase in disposable income, technological upgrades, and spurring rise in number of original equipment manufacturers (OEMs) have led the automotive & transportation sector to witness a significant growth. For instance, according to a report published by India Brands Equity Foundation, the domestic automobile production increased by a CAGR of 2.36% from 2016-20 with 26.36 million vehicles being manufactured in India in 2020. The surge in fuel processing has led the key automotive manufacturers such as Maruti Suzuki and Hyundai others to produce lightweight vehicles to enhance fuel mileage.
High manganese alloys provide a favorable combination and balance of properties such as ductility, formability, strain hardening, and strength level parameters. These significant properties enable reducing the weight of vehicles and at the same time improves resistance against the effects of automobile accidents. This factor has led the auto makers to increasingly use manganese alloy for producing lightweight vehicles to enhance mileage. This is expected to fuel the demand for manganese alloy in the growing automotive sector during the forecast period.
Furthermore, both developed and developing economies, such as the U.S., China, India, and others have put more emphasis on producing high tech aircrafts equipped with modern armor facilities wherein high carbon ferromanganese is widely used in conjunction with steel for building various aircraft and fighter jet’s components. This factor may act as one of the key drivers responsible for the growth of the manganese alloy market. Furthermore, the increase in demand for consumer goods surged the shipment activities which in turn has surged the manufacturing of cargo ships where high carbon ferromanganese is widely used for manufacturing lightweight ship components. This may augment the growth of the manganese alloy market during the forecast period. However, health hazards associated with the production of manganese alloys may restrain the growth of the manganese alloy market during the forecast period.
On the contrary, factors such as rise in awareness for eco-friendly activities coupled with rise in disposable income has surged the demand for electric vehicles where medium carbon ferromanganese is widely used to produce electrodes that is used in lithium-ion batteries. This factor may create remunerative opportunities for the manganese alloy market in the coming future. Furthermore, the rise in demand for high quality refined steel has led the steel fabricating sectors to use low carbon ferromanganese used for removing excess sulfur content and producing high-strength steel. This factor may fuel the demand for low carbon ferromanganese in the growing steel fabrication sector; thus, creating lucrative opportunities for the manganese alloy market.
The manganese alloy market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into silicomanganese, high carbon ferromanganese, medium & low carbon ferromanganese, and others. On the basis of application, it is divided into steel, welding, foundry, superalloys, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global manganese alloy market profiles leading players that include Ferroglobe, Maithan Alloys Ltd., Nava Limited, Eramet, Vale, Tata Steel, Hickman Williams and Company, SIMPAC Inc., Gulf Manganese Corporation Limited, and MOIL. The global manganese alloy market report provides in-depth competitive analysis as well as profiles of these major players.
Manganese alloys are metals that contain some percentage of magnesium, carbon, sulfur, and other trace elements. They are strong, ductile, and extremely corrosion resistant. They serve as a deoxidizer of molten steel and controls its sulfur content. In addition, they enhance strength and hardness of the alloy and its resistance to corrosion. They are used in high-temperature, stainless, & manganese steels and in nickel, chromium, & aluminum alloys. They are also used as a catalyst during preparation of oxygen from potassium chlorate.
Factors such as increase in disposable income, technological upgrades, and spurring rise in number of original equipment manufacturers (OEMs) have led the automotive & transportation sector to witness a significant growth. For instance, according to a report published by India Brands Equity Foundation, the domestic automobile production increased by a CAGR of 2.36% from 2016-20 with 26.36 million vehicles being manufactured in India in 2020. The surge in fuel processing has led the key automotive manufacturers such as Maruti Suzuki and Hyundai others to produce lightweight vehicles to enhance fuel mileage.
High manganese alloys provide a favorable combination and balance of properties such as ductility, formability, strain hardening, and strength level parameters. These significant properties enable reducing the weight of vehicles and at the same time improves resistance against the effects of automobile accidents. This factor has led the auto makers to increasingly use manganese alloy for producing lightweight vehicles to enhance mileage. This is expected to fuel the demand for manganese alloy in the growing automotive sector during the forecast period.
Furthermore, both developed and developing economies, such as the U.S., China, India, and others have put more emphasis on producing high tech aircrafts equipped with modern armor facilities wherein high carbon ferromanganese is widely used in conjunction with steel for building various aircraft and fighter jet’s components. This factor may act as one of the key drivers responsible for the growth of the manganese alloy market. Furthermore, the increase in demand for consumer goods surged the shipment activities which in turn has surged the manufacturing of cargo ships where high carbon ferromanganese is widely used for manufacturing lightweight ship components. This may augment the growth of the manganese alloy market during the forecast period. However, health hazards associated with the production of manganese alloys may restrain the growth of the manganese alloy market during the forecast period.
On the contrary, factors such as rise in awareness for eco-friendly activities coupled with rise in disposable income has surged the demand for electric vehicles where medium carbon ferromanganese is widely used to produce electrodes that is used in lithium-ion batteries. This factor may create remunerative opportunities for the manganese alloy market in the coming future. Furthermore, the rise in demand for high quality refined steel has led the steel fabricating sectors to use low carbon ferromanganese used for removing excess sulfur content and producing high-strength steel. This factor may fuel the demand for low carbon ferromanganese in the growing steel fabrication sector; thus, creating lucrative opportunities for the manganese alloy market.
The manganese alloy market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into silicomanganese, high carbon ferromanganese, medium & low carbon ferromanganese, and others. On the basis of application, it is divided into steel, welding, foundry, superalloys, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global manganese alloy market profiles leading players that include Ferroglobe, Maithan Alloys Ltd., Nava Limited, Eramet, Vale, Tata Steel, Hickman Williams and Company, SIMPAC Inc., Gulf Manganese Corporation Limited, and MOIL. The global manganese alloy market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the manganese alloy market analysis from 2021 to 2031 to identify the prevailing manganese alloy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the manganese alloy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global manganese alloy market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Silicomanganese
- High Carbon Ferromanganese
- Medium and Low Carbon Ferromanganese
- Others
By Application
- Steel
- Welding
- Foundry
- Superalloys
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Ferroglobe
- Maithan Alloys Ltd.
- Nava Limited
- Eramet
- Vale
- Tata Steel
- Hickman Williams & Company
- SIMPAC Inc.
- Gulf Manganese Corporation Limited
- MOIL
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MANGANESE ALLOY MARKET, BY TYPE
CHAPTER 5: MANGANESE ALLOY MARKET, BY APPLICATION
CHAPTER 6: MANGANESE ALLOY MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Ferroglobe
- Maithan Alloys Ltd.
- Nava Limited
- Eramet
- Vale
- Tata Steel
- Hickman Williams & Company
- SIMPAC Inc.
- Gulf Manganese Corporation Limited
- MOIL
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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