Global Manganese Market to Reach 39.3 Million Metric Tons by 2030

The global market for Manganese estimated at 27.4 Million Metric Tons in the year 2023, is expected to reach 39.3 Million Metric Tons by 2030, growing at a CAGR of 5.3% over the analysis period 2023-2030. SiMn, one of the segments analyzed in the report, is expected to record a 5.5% CAGR and reach 26.2 Million Metric Tons by the end of the analysis period. Growth in the FeMn segment is estimated at 4.4% CAGR over the analysis period.

The U.S. Market is Estimated at 7.2 Million Metric Tons While China is Forecast to Grow at 8.0% CAGR

The Manganese market in the U.S. is estimated at 7.2 Million Metric Tons in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 8.8 Million Metric Tons by the year 2030 trailing a CAGR of 8.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

Manganese is a hard and brittle metal often found in combination with iron and other minerals. Manganese is crucial for steel production, serving as an essential alloying agent which enhances the steel`s strength, durability, and resistance to wear. Apart from its critical role in steelmaking, manganese is also used in the manufacture of aluminum alloys and is essential in the chemical reactions necessary for the production of batteries, particularly in the rapidly expanding sector of lithium-ion batteries used in electric vehicles (EVs). Manganese is widely use in the global steel industry. As urbanization and industrialization continue to advance, particularly in developing regions such as Asia and Africa, the demand for steel continues to rise. This demand directly influences the market for manganese, given its efficacy in improving the hardness and durability of steel. Furthermore, infrastructure projects worldwide, including the construction of skyscrapers, bridges, and railways, as well as increasing automotive production, necessitate robust steel supplies, thereby bolstering the demand for manganese.

Additionally, the battery industry represents a significant and growing market for manganese. The shift towards renewable energy and the increasing adoption of electric vehicles are driving the demand for high-efficiency batteries. Manganese is used in the cathodes of lithium-ion batteries, which are essential for EVs due to their ability to improve energy density and battery life. The ongoing development and improvement of battery technology to increase the driving range and reduce the cost of EVs continue to enhance manganese`s relevance in this sector. Moreover, as global efforts to reduce carbon emissions intensify, the push for greener technologies and the subsequent demand for manganese are expected to grow. The adoption of high-manganese cathode technologies in batteries is promising, driven by the benefits of supply security, cost, and environmental considerations.

Trends influencing the manganese market include technological advancements in mining and refining processes, which have increased efficiency and reduced environmental impacts. The development of more sustainable mining practices is crucial for meeting the growing demand while addressing environmental and social governance (ESG) concerns. Additionally, the potential for manganese recycling processes to evolve could create a more sustainable lifecycle for manganese, further aligning with global sustainability goals. As the market for manganese adjusts to these dynamics, its role in both traditional industries such as steel and burgeoning ones like battery production continues to expand, promising a robust future for this essential mineral.