The ‘Global Electrolytic Manganese Metal Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global electrolytic manganese metal market growth, assessing the market on the basis of its segments like form, application, and major regions.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 5.70%
The increasing adoption of electric vehicles is accelerating the growth of the global electrolytic manganese metal market. The major factors that are catalysing this market include the transition from cobalt as a metal component in batteries to manganese and the electrification strategies adopted by automotive industries. The increased demand for production of steel and aluminium is further aiding the growth of this market. When alloyed with other metals like antimony, copper and aluminium, manganese metal is used to form highly ferromagnetic materials, which is likely to spur the growth of the market for electrolytic manganese metal.
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The flake form of electrolytic manganese metal is expected to register a steady growth in the forecast timeline owing to its ability to increase the abrasive resistance, corrosion resistance, and high strength tenacity of steel. Meanwhile, powder form of electrolytic manganese metal is forecasted to create a boom in the market due to its integral role in deoxidation and desulphurisation in making steel. Electrolytic manganese metal is widely being applied in the chemical industry due to continuous developments in technology and its additional benefits like low impurity characteristics, which is likely to bolster the global electrolytic manganese metal market.
Electrolytic Manganese Metal Industry Definition and Major Segments
Electrolytic manganese metal is a type of metal that is formed by the electrolysis of ammonium sulphate solution and manganese and is the pure form of the metallic element manganese. Generated by leaching, electrowinning, and purification of manganese carbonate precipitate, it has a high purity of 99.9% without using selenium in its manufacturing process.
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On the basis of form, the market is segmented into:
- Flake
- Powder
Based on application, the market is classified into:
- Steel
- Aluminium Alloy
- Magnetic Material
- Chemical
- Others
On the basis of region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Electrolytic Manganese Metal Market Trends
Rising infrastructure development is fuelling the growth of the electrolytic manganese metal market by increasing the demand for steel and other applications of electrolytic manganese metal. The growing research and development activities in the automotive industry and rising applications in defence and aerospace are the key trends observed in the market. The increasing initiatives and rising investments in battery-grade production is likely to surge the demand for electrolytic manganese metal, aiding the growth of the electrolytic manganese metal market.
Rapid advancements in electrolytical cell technology and effectiveness of production processes have led to improvements in product yields and increased the overall growth potential for the market for electrolytic manganese metal. The high prices of alternative battery metals like cobalt are encouraging the use of manganese battery metal and triggering its usage in the automotive industry. This coupled with robust industrialisation is widening the scope for growth of the market for electrolytic manganese metal.
The development of smart manufacturing systems including the use of sensors and real time monitoring, in order to reduce waste, has further accelerated the growth of the market for electrolytic manganese metal. The growing penetration of electronic devices like laptops and smartphones has surged the demand for electrolytic manganese metal for the creation of lithium-ion batteries. The stringent regulations of various governments to minimise carbon footprints and improve environment sustainability is propelling the growth of the electrolytic manganese metal market.
Key Market Players
The major players in the global electrolytic manganese metal market report are Ningxia Tianyuan manganese industry (Group) Co., Ltd., NIPPON DENKO CO., LTD., Belmont Metals Inc., Mesa Minerals Limited, Jayesh Industries Limited, Guangxi Start Manganese Materials Co., Ltd., and Manganese Metal Company (Pty) Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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