Manganese Alloys Market Size, Share, Trends and Future Growth Predictions and Forecast, 2019–2027
Manganese is a brittle, hard, grey-white to silvery metal with the chemical symbol Mn. It is primarily used in the production of steel. According to the International Manganese Institute, the global production of manganese increased to 13.8 million tons in 2018, as compared to that in 2017. This increased the demand for manganese alloys due to the rise in its use in automotive and infrastructure industries. Newly developed state-of-the-art manganese alloys treatments offer superior reliability. Manganese alloys are extensively used in the steel industry.
[UKPRwire, Wed Aug 21 2019] Manganese is a brittle, hard, grey-white to silvery metal with the chemical symbol Mn. It is primarily used in the production of steel. According to the International Manganese Institute, the global production of manganese increased to 13.8 million tons in 2018, as compared to that in 2017. This increased the demand for manganese alloys due to the rise in its use in automotive and infrastructure industries. Newly developed state-of-the-art manganese alloys treatments offer superior reliability. Manganese alloys are extensively used in the steel industry. The steel industry is one of the key consumer of manganese alloys. The global steel production in 2018 was around 1,800 million tons, out of which a majority of it is produced in countries such as India, China, Brazil, Mexico, and Iran.
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Governments of several countries are funding and supporting development and adoption of latest technologies in manufacturing environment friendly manganese alloys. The European Commission has published regulations imposing definitive safeguards on steel imported into the European Union. It aims in the development and deployment of innovative, CO2-mitigating technologies, improving resource efficiency, and fostering sustainable developments in Europe.
Rise in demand for silicomanganese due to its cost effectiveness is expected to drive the global Manganese Alloys Market during the forecast period. Developed and developing countries are investing significantly in offshore drilling. Demand for manganese alloys in Asia Pacific is gaining momentum due to the growth in the automobile industry and steelmaking activities, especially in countries such as China, India, Thailand, and Indonesia.
This report analyzes and forecasts the manganese alloys market at global, regional, and country levels. The market has been forecast based on volume (kilo tons) and value (US$ Mn) from 2019 to 2027, considering 2018 as the base year. The study includes drivers and restraints of the global manganese alloys market. It also covers the impact of these drivers and restraints on the demand for manganese alloys during the forecast period. The report also highlights opportunities in the manganese alloys market at global and regional levels.
The report includes detailed value chain analysis, which provides a comprehensive view of the global manganese alloys market. Porter’s Five Forces model for the manganese alloys market has been included to help understand the competitive landscape. The study encompasses market attractiveness analysis, wherein type, application, and region are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global manganese alloys market by segmenting it in terms of type, application, and region. Based on type, the manganese alloys market has been classified into high carbon ferromanganese, refined ferromanganese, and silicomanganese. In terms of application, the market has been divided into steel, superalloys, and others. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for manganese alloys in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The global manganese alloys market has been provided in terms of volume (Kilo Tons) and value (US$ Mn). Market numbers have been estimated based on type and application of manganese alloys. Market revenue and volume have been provided in terms of global, regional, and country levels.
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The report comprises profiles of major companies operating in the global manganese alloys market. Companies such as Maithan Alloys, Arcelor Mittal, Jindal Stainless Steel, and Pertama Manganese Alloys account for majority share of the market. These players engage in developing new technologies and acquisitions to garner larger share of the market.
The global manganese alloys market has been segmented as follows:
Global Manganese Alloys Market, by Type
- High Carbon Ferromanganese
- Refined Ferromanganese
Global Manganese Alloys Market, by Application
- Others (including Foundry and Welding Electrodes)
Global Manganese Alloys Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- In terms of type, the silicomanganese segment is anticipated to expand at a rapid phase during the forecast period, as it is less costlier than ferromanganese and refined manganese
- Based on application, demand for steelmaking is estimated to increase in the next few years due to rising investments in the infrastructure sector
- In terms of region, Asia Pacific dominated the manganese alloys market due to the growth in the automotive industry and rise in infrastructure development
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