Manganese Mining Market to Record an Exponential CAGR by 2024
Manganese
is a very hard, brittle, pinking grey metal. It is reactive in nature
and becomes chemically active with air, water, and many acids.
Manganese is used extensively in the production of steel for
deoxidization and desulfuration. It improves the weldability, wear
resistance, tensile strength, and hardness of steel. Manganese is
also used with copper, aluminum, and other elements to manufacture
different types of alloys. The rapid progress of infrastructural and
industrial activities in Asia Pacific is a key driver of the
manganese mining market. China, South Korea, and India require a
great deal of steel to cater to their swift pace of development.
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The
growing urbanization in these emerging economies is likely to fuel
the demand for manganese mining over the forecast period. Growth in
the transportation, oil & gas refineries, and construction
sectors facilitated the expansion of the global manganese mining
market. Additionally, the rise in the usage of Li-ion and NiMH
batteries in electric vehicles, storage, and consumer applications
and the emerging non-metallurgical application of chemicals in
textiles, bricks, glass, tiles, and in animal feed are likely to
enhance the demand for magnesium, thereby drive this market over the
forecast period.
Advancements
in the green energy sector are anticipated to boost the need for
electrolytic manganese dioxide and electrolytic manganese metal, thus
creating growth opportunities for the manganese mining market. The
procedure of automated remote technology has been one of the rising
trends in this market. Mining of manganese has evolved from primitive
methods to highly advanced technology based processes. It is the
fifth largest metal found on the earth’s crust. Most of the
manganese mining occurs in open pit, although they can be mined in
ocean floor. Once the process of mining is complete, the manganese is
transferred to a processing plant for smelting and electrolyte
processing. Advanced technology and compact mining equipment allows
the manganese miners to produce far more valuable manganese ore as
compared to ores derived from primitive mining methods.
The
global manganese mining market has been segregated by application
into the following groups: alloys, electrolytic manganese dioxides,
and electrolytic manganese metals. Alloys accounted for the leading
share in the manganese mining market in 2016 and are predicted to
retain their dominance over the forecast period. The manganese ore
obtained is mostly used as an alloying element. Steel holds the
dominant market share among these alloys, because of which the rising
demand for it owing to rapid urbanization and industrialization has
been a key propellant of the manganese mining market. Based on
end-user, the market is divided into the industrial, construction,
energy, and others categories. Construction constituted a
considerable market share in 2016 and is projected to retain its
position over the forecast period.
Geographically,
the manganese mining market can be distributed over North America,
Europe, Asia Pacific, Middle East & Africa, and Latin America.
Asia Pacific held the dominant share in the market in 2016 and is
expected to maintain its position during the forecast period. There
has been a surge in the demand for manganese mining owing to the
expansion of the construction and automobile sectors and the rising
need for aluminum alloys and steel in this region. China is expected
to retain a considerable market share over the forecast period. North
America accounted for a substantial share in the manganese mining
market in 2016 due to the well-established construction and
automobile sectors in the region. The U.S. constituted a major market
share in this region. Middle East & Africa is an emerging region
for this market.
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Key
players operating in the magnesium mining market include Vale, BHP
Billiton, ERAMET, Consolidated Minerals, Assmang, Tata Steel,
Sibelco, and MOIL.
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