The global market for Manganese is poised for significant growth according to a recent report by ResearchAndMarkets.com. The report estimates that the market, which currently stands at 27.4 Million Metric Tons in 2023, is projected to reach 39.3 Million Metric Tons by 2030, with a compound annual growth rate of 5.3%.
One of the key trends driving the growth of the manganese market is technological advancements in mining and refining processes, which have not only increased efficiency but also reduced environmental impacts. The report also highlights the importance of developing sustainable mining practices to meet the growing demand for manganese while addressing environmental and social governance concerns.
Another factor contributing to the growth of the manganese market is the potential for recycling processes to evolve, creating a more sustainable lifecycle for the mineral. This aligns with global sustainability goals and could further expand the role of manganese in industries such as steel and battery production.
The report provides key insights into market growth trends, with the SiMn segment expected to reach 26.2 Million Metric Tons by 2030 and the FeMn segment set to grow at a 4.4% CAGR. Regional analysis highlights the growth potential in key markets such as the U.S. and China.
With comprehensive market data, in-depth regional analysis, and company profiles of major players in the industry, the report offers valuable information for businesses looking to make informed decisions in the manganese market. Furthermore, complimentary updates for one year ensure that users stay informed of the latest market developments.
