Market Size of Manganese Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 23.24 Million tons |
| Market Volume (2029) | 28.10 Million tons |
| CAGR (2024 - 2029) | 3.87 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Manganese Market Analysis
The Manganese Market size is estimated at 23.24 Million tons in 2024, and is expected to reach 28.10 Million tons by 2029, growing at a CAGR of 3.87% during the forecast period (2024-2029).
During the pandemic scenario in 2020, construction activities were temporarily stopped during the government-imposed lockdown to curb the spread of new COVID-19 cases, which decreased the demand for steel from the construction industry. However, considering the post-pandemic scenario, the construction industry is picking up the pace which is likely to increase the demand for the market in the coming years.
- Over the short term, the increasing demand for manganese in lithium-ion battery production, owing to the rising demand for electric vehicles, is expected to drive the market's growth.
- Conversely, unfavorable conditions arising from restrictive governmental policies and growing environmental concerns are expected to hinder market growth.
- Nevertheless, the usage of manganese in batteries is likely to create lucrative growth opportunities for the global market.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
