Global Electrolytic Managanese Market - Forecast(2024 - 2030)
Global Electrolytic Manganese Market Overview
The global Electrolytic Manganese market size
is forecast to reach US$1.9 billion by 2027, after growing
at a CAGR of 6.4% during 2022-2027. Electrolytic manganese is mainly known for its
deoxidation and desulfurization in steelmaking using metalloproteins and for making additions to various transition metal
alloys that require manganese. It can also be alloyed with other metals such as aluminium alloys, antimony, or copper to form highly ferromagnetic
materials. According to World Steel Production, the total production of crude
steel in December 2021 for the 64 countries reporting to the World Steel
Association was around 158.7 million tonnes (MT). The rise in steel production
will eventually boost the demand for the electrolytic manganese market.
However, due to covid 19 pandemic, the market has declined in 2020 owing to the
shutdown of the manufacturing facilities to reduce the spread of the virus. But
the market is expected to follow an increasing trend due to the growing
consumption from the various end-use sector. Therefore, the rise in the
production of alloys such as steel, copper, and others will increase the demand
for the electrolytic manganese market during the forecast period.
Report Coverage
The report: “Global
Electrolytic Manganese Market Report – Forecast (2022-2027)”, by
IndustryARC, covers an in-depth analysis of the following segments of the electrolytic manganese industry.
By Purity: 99.7%, 99.9%, and Others
By Form: Powder, Flakes, Lumps, and Briquettes
By
Application:
Aluminum Alloy, Steel Alloy, Copper Alloy, Magnetic Material, Additives
and Others
By
End-Use Industry: Transportation
(Automotive, Aerospace, Marine, Railways), Building & Construction (Residential Construction, Commercial Construction,
Infrastructure, and others) Electric & Electronics, Food & Beverages, Metallurgy,
Industrial, Chemical, Energy, Oil & Gas, and Others
By
Geography: North
America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France,
Netherlands, Belgium, Spain, Russia, and the Rest of Europe), Asia-Pacific
(China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia,
Taiwan, Malaysia, and Rest of APAC), and Rest of the World: The Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle
East) and Africa (South Africa, Nigeria, Rest of Africa)
Key Takeaways
- The
Asia Pacific is expected to register a CAGR of 7.6% during
the forecast period (2022-2027). The increasing demand for electrolytic manganese in various sectors such as steel,
aluminum, and chemicals among Asian countries such as China, India, Japan, and
South Korea is driving the electrolytic manganese market.
- The rising application of electrolytic manganese in building materials, metallurgy, and the electronic component industry will help to drive the demand for electrolytic manganese during the forecast period.
- Robust demand for electrolytic manganese in the transportation sector is expected to boost the demand for electrolytic manganese during the forecast period as most of the electronic component is made of aluminum alloy, copper alloy, and others.
Figure: Asia Pacific Electrolytic Manganese Market Revenue, 2021-2027 (US$ Billion)
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Global Electrolytic Manganese Market Segment Analysis – By Purity
The 99.9%
electrolytic manganese segments
accounted for around 56% of the market share in 2021 and are estimated to grow at
a significant CAGR during the forecast period. The 99.9% manganese flakes are widely used as an
additive in the manufacturing of Steel as manganese acts as a deoxidizer or
desulphurize in the production of Steel. The 99.9% electrolytic manganese helps to improve the mechanical properties
and corrosion resistance of aluminum alloys, especially used in the
production of beverage can sheet alloys. According to North Carolina Beer &
Wine Wholesale retailer Association, the total bear market is valued at US$7,254,318
and consumption is around 115,20,388 gallons in North Carolina for March 2022. Therefore,
the rise in the production of the beverages will boost demand for aluminum
alloy, which in turn, will drive electrolytic manganese during the forecast period.
Global Electrolytic Manganese Market Segment Analysis - By End-Use Industry
The transportation segment accounted for
approximately 35% of the market share in 2021 and is
estimated to grow at a significant CAGR during the forecast period. The rising
production in the transportation sector is a growing demand for aluminum and in
turn, is increasing demand for electrolytic manganese globally. Aluminum alloy is the widest
material used in automotive parts owing to many advantages, such as easily
machining, strong, high light-to-weight ratio, aesthetic, durability, as well
as recycling characteristics which make it to be an ideal option for automotive
parts material. According to the China Association of Automobile Manufacturers,
the total production of a new passenger car in April 2022 is around 996,000
units and commercial vehicles are around 210,000 units. Therefore,
the growing consumption of aluminum alloy in the transportation sector will
boost the demand for the global electrolytic manganese market during the forecast period.
Global Electrolytic Manganese Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the global electrolytic manganese market in 2021 up to 38%, owing to the growing industrial, automotive, residential, commercial, and large infrastructure projects, in developing countries like China, India, Indonesia, and others. The major factor responsible for the growth of electrolytic manganese is its availability in a pure form of the metallic element manganese. Also, the growing production of crude steel is boosting the demand for electrolytic manganese in various end-use industries. According to India Brand Equity Foundation, India is the world's second-largest producer of crude steel, with an output of 9.8 MT as of October 2021. In FY22 (till January), the production of crude steel and finished steel stood at 98.39 MT and 92.82 MT, respectively. Therefore, the growing production of aluminum, steel, and others which are widely used in the various end-use sector such as transportation, electronics, building material, and food & beverages sectors are boosting the demand for the global electrolytic manganese market during the forecast period.
Global Electrolytic Manganese Market Drivers:
The demand for Advanced high Strength Steel in Automotive
The growing demand for lightweight vehicles and electric vehicles is driving the electrolytic manganese market. The usage of new grades of advanced high-strength steel enables to reduce of vehicle component weight by 25%-39% and total weight by 8%-10% as compared to conventional steel reducing the overall weight of the vehicle by 100-150 kg. According to World Steel Organization, the total weight of the electric vehicle is reduced by 188 kg for a five-seater using advanced high-strength steel and also reducing the emission of greenhouse gases by 70% of the total life cycle. Therefore, the growing demand for electric vehicles and lightweight vehicles will increase the demand for advanced high-strength steel, which in turn, will boost the electrolytic manganese market during the forecast period.
Increasing demand for Stainless steel in Appliances
Stainless
steel is widely used in home appliances for the manufacturing of different
products like cookware, kitchen appliances,
sinks, fixtures, and others owing to its high durability, modern look, and high
resistance to rust, fire, and heat. According to the Retailers Association of
India (RAI), the sales of consumer electronics and appliances goods in the
third quarter of 2021 have increased by 23.5% compared with the same period in
2020. Electronics hardware production in India increased from US$ 72.38 billion
in 2019 to US$ 89.38 billion in 2020 and is estimated to reach US$ 400 billion
by 2024. Therefore, the increasing demand for home appliances will
increase the demand for stainless steel, which in turn, will boost the demand
for electrolytic manganese during the forecast
period.
Global Electrolytic Manganese Market Challenges:
The volatile price of Manganese
The volatile price of manganese may hamper the
electrolytic manganese during the forecast period. Due to uncertainty in the prices, the price
for the electrolytic manganese-based products may affect eventually them. For instance, as
of 19 April 2022, the price of electrolytic manganese was US$ 2,400 metric tons
and it was recorded as US$2,221 by May 19, 2022. Therefore, the volatile price of is likely to manganese
may hamper the market growth.
Global Electrolytic Manganese Market Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Global Electrolytic Manganese Market.
Global Electrolytic Manganese’s top 10 companies include
1. Nippon Denko Co., Ltd.
2. Belmont Metals
3. Ningxia Darshan Silicon Industry Co., Ltd
4. Huicheng International Trading Pte. Ltd.
5. Xiangtan Electrochemical Scientific
6. Euro Manganese Inc
7. Umicore
8. Erachem Comilog
9. Delta EMD
10. Mesa Minerals Limited
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LIST OF TABLES
1.Global Electrolytic Managanese Market, by Type Market 2023-2030 ($M)2.Global Electrolytic Managanese Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Electrolytic Managanese Market, by Type Market 2023-2030 (Volume/Units)
4.Global Electrolytic Managanese Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Electrolytic Managanese Market, by Type Market 2023-2030 ($M)
6.North America Electrolytic Managanese Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Electrolytic Managanese Market, by Type Market 2023-2030 ($M)
8.South America Electrolytic Managanese Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Electrolytic Managanese Market, by Type Market 2023-2030 ($M)
10.Europe Electrolytic Managanese Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Electrolytic Managanese Market, by Type Market 2023-2030 ($M)
12.APAC Electrolytic Managanese Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Electrolytic Managanese Market, by Type Market 2023-2030 ($M)
14.MENA Electrolytic Managanese Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
LIST OF FIGURES
1.US Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)2.Canada Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
3.Mexico Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
4.Brazil Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
5.Argentina Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
6.Peru Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
7.Colombia Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
8.Chile Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
10.UK Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
11.Germany Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
12.France Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
13.Italy Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
14.Spain Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
16.China Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
17.India Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
18.Japan Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
19.South Korea Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
20.South Africa Global Electrolytic Managanese Industry Market Revenue, 2023-2030 ($M)
21.North America Global Electrolytic Managanese Industry By Application
22.South America Global Electrolytic Managanese Industry By Application
23.Europe Global Electrolytic Managanese Industry By Application
24.APAC Global Electrolytic Managanese Industry By Application
25.MENA Global Electrolytic Managanese Industry By Application