The manganese ore market is anticipated to grow with a CAGR of 6.25% over the forecast period, i.e., 2024-2036. Key factors contributing to the growth of the market include the rising production of automobiles and the growing focus on mining. The adoption of new technology for mining manganese mines and rising construction activities is also another factor for the market growth. The market is estimated to garner a revenue of USD 822.4 million by the end of 2036 up from a revenue of about USD 374.2 million in the year 2023.
The manganese ore market is segmented into various segments, which include segmentation by grade, finished products, end user, and region. By finished products, the market is segmented into high carbon ferromanganese (HCFeMn), medium carbon ferromanganese (MCFeMn), low carbon ferromanganese (LCFeMn), silico-manganese (SiMn), electrolyte manganese metal, electrolyte manganese dioxide (EMD), sintered manganese, manganese (II) sulphate (MnSO4), manganese (II) chloride (MnCL2), and manganese (II) carbonate (MnCO3). The high carbon ferromanganese (HCFeMn) category is predicted to grow at a CAGR of 6.09% during the forecast period, bringing in the most revenue of USD 245.1 million in 2036. Furthermore, the segment was responsible for USD 113.7 million in revenue generation in 2022. The growth of the segment is majorly expected on the account of rising development of infrastructures.
On the basis of region, the manganese ore market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Manganese ore's market share in Asia Pacific, among all other regions, is expected to grow at a CAGR of 6.48% throughout the forecast period, generating the highest market revenue of USD 722.7 million by the end of 2036. In 2022, the market revenue was USD 319.6 million. The growth of the market in the region is attributed to the presence of one of the largest steel and iron production infrastructures.
Some of the prominent industry leaders in the manganese ore market that are included in our report are Eramet Group, Consolidated Minerals Limited, Moil Limited, South32, OM Holdings Ltd., Northern Ray Pte Ltd., Autlan SAB de C.V., Mesa Minerals Limited, Anglo American, and Vale.
Companies Mentioned
- Eramet Group
- Consolidated Minerals Limited
- Moil Limited
- South32
- OM Holdings Ltd.
- Northern Ray Pte Ltd.
- Autlan SAB de C.V.
- Mesa Minerals Limited
- Anglo American
- Vale
