Manganese Alloys - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Manganese Alloys Market is accounted for $12.26 billion in 2019 and is expected to reach $21.23 billion by 2027 growing at a CAGR of 7.1% during the forecast period. Rising demand from the automotive industry and growing usage of steel are the major factors propelling market growth. However, high production cost and market volatility are hampering the market growth.
Manganese is an important alloying agent. Many different types of manganese alloys are used in the present times. Manganese is one of the most flexible elements that can be added to copper alloys. Small amounts of manganese are used to deoxidize the alloy and enhance its mechanical strength and castability. In antimony and aluminium, the addition of manganese produces highly ferromagnetic compounds. In steels, manganese boosts toughness, hardenability, stiffness, strength, hardness, wear resistance as well as forging and rolling qualities. High-manganese alloys provide a constructive combination and balance of properties like formability, strain hardening, ductility, and strength level parameters, which enables a weight reduction of vehicles and at the same time, mitigates the effect of automobile accidents.
Based on the application, the steel segment is going to have a lucrative growth during the forecast period owing to the increasing demand from the automotive industry which includes passenger cars, trucks, and heavy-duty vehicles. Global sales of cars and commercial vehicles increased in the forecast period. This factor increases the demand for steel alloys which in turn drives the manganese alloys market.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the presence of two of the largest steel producers in the region. India and China are the two countries in the region which are the largest consumers of manganese alloys worldwide. Besides this, the rapid development of the manufacturing sector will also drive the market in the region.
Some of the key players profiled in the Manganese Alloys Market include ArcelorMittal, Eramet, Ferroglobe, Georgian American Alloys, Godawari Power and Ispat Ltd (GPIL), Jindal Steel and Power Ltd, Maithan Alloys Limited, Mortex Group, Nikopol Ferroalloy Plant, Pertama Ferroalloys Sdn. Bhd., Sakura Ferroalloys, and South32.
• Ferro-Manganese FeMn
• Metallic Manganese Mn
• Nickel-Manganese Alloy (Ni-Mn)
• Nitrided Manganese Alloy
• Silico-Manganese SiMn
• Iron-Manganese Alloys
• Welding Electrodes
End Users Covered:
• Mining Industry
• Chemical Industry
• Machinery Manufacturing Industry
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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