Manganese Alloy Market Size, Share, Trends, Growth 2030

The global manganese alloy market size was worth around USD 25.80 billion in 2022 and is predicted to grow to around USD 47.02 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.79% between 2023 and 2030.

Request Free Sample

Global Manganese Alloy Market: Overview

Manganese (Mn) alloy is a mixture of manganese metals with other metalloids and metals such as copper, silicon, zinc, aluminum, zirconium, and rare earth. They have a lower density as compared to aluminum alloys and stand greater column loading per unit weight. Manganese alloys are generally used when higher stiffness or light, thick form is desired rather than a requirement of great strength. Nitride-manganese, Ferromanganese, and Silicomanganese are some of the major categories of manganese alloys.

Global Manganese Alloy Market: Growth Factors

The global manganese alloy market is growing at a speedy rate. Factors that are majorly contributing to the growth of the global market include the rise in application of manganese in the steel industry, growing demand for manganese alloys in the automotive industry, and an increase in the use of silicomanganese in the process of steel manufacture. Further, manganese alloys are renowned for the lightest structural alloys. In addition to this, it has a high strength to weight ratio and low specific gravity which makes the material suitable for a wide range of applications including commercial, biomedical, electronic, industrial, aerospace, and automotive applications. Also, as compared to pure aluminum, it has higher wear resistance and corrosion resistance.

In addition to this, using manganese as an alloying element also provides key benefits such as it acts as an active deoxidizer, are less likely to separate than other alloying elements, enhances yield at the steel mill by integrating with the sulfur in the steel, and lowers the iron pyrite formation during high temperature rolling processes which can make the steel vulnerable to crack & tear, and it boosts the tensile strength & hardenability. Owing to all such factors there is a rise in the use of manganese alloys which in turn is fostering the growth of the global manganese alloy market. Moreover, industrialization growing at a rapid pace and the growing use of manganese alloys in the construction industry owing to the rise in residential & commercial projects in developing countries are also the factors that are fueling the growth of the global market.

Furthermore, the growing consumption of manganese in several industries across the world will have ample opportunities for the growth of the global manganese alloy market over the forecast period. However, stricter regulations, rising environmental awareness, and safety of workers during the production process of Mn metal are some of the factors that may impede the growth of the global manganese alloy market.

COVID-19 pandemic conditions severely affected the overall manganese alloy market. Strict lockdowns, restrictions on the manufacturing units and personnel movements affected the manufacturing process. Further, disruption of the supply chain, raw material shortage, and disruption of distributor network have also affected the growth of the market in 2020. However, the high demand for manganese alloys in various industries is expected to boost the market growth over the forecast period.

Manganese Alloy Market : Report Scope

Global Manganese Alloy Market: Segmentation

The global manganese alloy market is bifurcated based on type, application, end-user, and region. Based on the type, the global manganese alloy market is segregated based on silico-manganese, nickel-manganese alloy, metallic manganese, Ferro-manganese, and others. The application segment consists of welding electrodes, superalloys, steel, and foundry. Based on the end-user, the global market is split into the machinery manufacturing industry, chemical industry, mining industry, and medical.

Request Free Sample

Global Manganese Alloy Market: Regional Analysis

Asia Pacific is expected to dominate and hold a significant share in the global manganese alloy market over the forecast period. Some of the major factors contributing to the growth of the market in this region include increasing espousal of high carbon ferromanganese in the steel-making industry and large steel manufacturers. China and India are expected to contribute a major share in the global manganese alloy market. North America and Europe are also expected to contribute healthy revenue in the global manganese alloy market over the forecast period. Factors such as high demand for manganese alloy in several industries are supporting the growth of the market in these regions.

Global Manganese Alloy Market: Competitive Players

The global manganese alloy market is led by players like:

• ArcelorMittal
• Pertama Ferroalloys Sdn. Bhd
• Nikopol Ferroalloy Plant
• Maithan Alloys Limited
• Jindal Steel and Power Ltd
• Godawari Power and Ispat Ltd (GPIL)
• Georgian American Alloys
• Ferroglobe
• Eramet
• Mortex Group

The global manganese alloy market is segmented as follows:

By Type

• Silico-Manganese
• Nickel-Manganese Alloy
• Metallic Manganese
• Ferro-Manganese
• Others

By Application

• Welding Electrodes
• Superalloys
• Steel
• Foundry

By End-User

• Machinery Manufacturing Industry
• Chemical Industry
• Mining Industry
• Medical

Global Manganese Alloy Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.