"Manganese Mining Market: Global Demand Analysis & Opportunity Outlook 2024"
The global manganese mining market is segmented into application such as alloys, electrolytic manganese dioxide and electrolytic manganese metals. Among these segments, alloys segment is expected to occupy the top position in global manganese mining market. Further, rapid industrialization and urbanization is impelling the demand for steel which in turn, is increasing the consumption of manganese in steel production. These factors are anticipated to exponentially increase the demand for manganese for alloy industry.
Global manganese mining market is expected to flourish at a significant CAGR of 3.6% over the forecast period. Growing rate of infrastructure in developing nations such as China and India is expected to fuel the demand for the manganese during the forecast period. Additionally, increasing demand for alkaline batteries is believed to increase the market size of the manganese during the forecast period.
Asia Pacific captured the highest percentage of market share in overall manganese mining market in 2016. Further, Asia Pacific is expected to continue its dominance over the forecast period. This can be attributed to substantial volume growth of automotive production in the region. Further, presence of large producers in India, China, Malaysia and Indonesia is anticipated to strengthen the growth of the market during the forecast period. North America market is projected to showcase substantial growth during the forecast period. Increasing construction activities in the region such as renovation and others are favorably impacting the growth of the market.
Increasing Consumption of Steel
Manganese minerals are heavily used in the production of alloys such as stainless steel. Further, growing construction activities and increasing automobile production is boosting the demand for steel which further, is likely to increase the demand for manganese during the forecast period.
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Positive Outlook of Electric Vehicle Industry
Rising sale of electric vehicles in the world is increasing the demand for alkaline batteries. According to International Energy Agency, in 2016, 750 thousand new electric vehicles were registered across the globe. Further, electric and hybrid vehicles are expected to witness exponential growth in the upcoming years owing to favorable government initiatives. This factor is anticipated to create robust opportunities for the growth of the manganese mining market in the upcoming years.
Although, lack of investment and declining manganese content in the ores are some of the factors which are expected to hamper the growth of the global manganese mining market in the near future.
The report titled "Manganese Mining Market: Global Demand Analysis & Opportunity Outlook 2024" delivers detailed overview of the global manganese mining market in terms of market segmentation by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
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This report also provides the existing competitive scenario of some of the key players of the global manganese mining market which includes company profiling of Vale, Consolidated Minerals, ERAMET, BHP Billiton, Tata Steel, Assmang, Sibelco, MOIL, S.K. Sarawangi & Co. Pvt. Ltd. and Consolidated Minerals Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global manganese mining market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.