Manganese Alloys Market Trends and Forecast, 2022-2031

Manganese Alloys Market Outlook 2031
• The global manganese alloys market was valued at US$ 23.1 Bn in 2021
• It is estimated to expand at a CAGR of 5.9% from 2022 to 2031
• The global manganese alloys market is expected to reach US$ 40.9 Bn by the end of 2031

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Global Manganese Alloys Market Introduction

Manganese is utilized in diverse industries including manufacturing, construction, machinery, transportation, textiles, medicine, and agriculture. Presently, 85% to 90% of total manganese demand is in the steelmaking industry. Ferromanganese and silicomanganese are the two types of ferroalloys used in the production of steel. Common manganese alloy applications include creation of structural alloys, oxidizing agent, welding, and glazes & varnishes. Manganese is primarily utilized in the steel industry, where manganese is added majorly in the form of ferroalloys. Several types of manganese alloys have been developed and they can be classified into high carbon ferromanganese, refined ferromanganese (medium and low-carbon), and silicomanganese SiMn/ (or Ferro silicomanganese, FeSiMn).

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The global manganese alloys market is projected to grow at decent growth rate from 2022 to 2031, due to its heavy use in manufacturing steel that is used for fast-paced development in infrastructure industry and the automotive industry.
Rising Demand for Sustainable Materials in Energy-efficient Buildings
Rapid urbanization, ever-increasing population, increase in capital availability in developing countries, and increasing construction activities in emerging economies are expected to propel the growth of the construction and infrastructure market in the next few years. Demand for infrastructure support is massive owing to the migration of people from rural to urban areas in search of employment. Increase in spending capacity of people in the developing countries propels the demand for infrastructure accordingly.

Building construction companies are increasingly using green construction techniques to build energy-efficient buildings and reduce construction costs. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. Therefore, construction companies are looking to source construction material in a sustainable manner and replace traditional material with high-performance, lightweight, durable and high strength in order to reduce installation and material cost.

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Increased Usage of Lightweight Materials in Automotive Industry
Investments in the automotive industry across the globe have been increasing for the last few years. Increased spending and purchasing power has fueled demand in the automotive sector. The automotive industry is looking to manufacture vehicles that are lightweight due to the increased need for vehicles to be energy efficient. Therefore, the automotive industry is emphasizing on the adoption of lightweight materials in order to achieve energy saving, safety, and reduced material consumption in the manufacturing of automotive. Manganese steel addresses this need effectively.

The use of manganese steel as the major component for automobile manufacturing can contribute to reduction in the body thickness and weight and improve the safety performance of automobiles.
Increase in Usage of Silicomanganese Alloy to Boost Market
Based on type, the manganese alloys market has been split into high carbon ferromanganese, refined ferromanganese, and silicomanganese. The silicomanganese segment held major share of the global manganese alloys market in 2021. Silicomanganese is primarily used as an alloying agent for manufacturing steel. Silicomanganese is among the several superalloys used in the manufacture of steel, as it offers necessary strength, toughness, and hardness as required by the steel.

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Silicomanganese is a stronger de-oxidant as compared to high carbon. It enhances the natural properties of steel, providing increased strength and function, as well as improved esthetic appeal. Moreover, silicomanganese alloys can be used in applications beyond those associated with standard steel products.

Increase in Usage of Manganese Alloys in Steel Industry: Application Segmentation

Steel is widely used all around the world in construction and infrastructure sectors because of its strength. Moreover, it can be recycled repeatedly without loss of its properties. Steel is crucial in the development of the infrastructure of any economy. Rapid growth in the production of steel worldwide due to expansion in construction industry significantly boosts the demand for manganese alloys worldwide.

The addition of manganese makes the steel harder and more resistant to wear. This makes it an ideal choice for construction projects that require durability and strength. Contractors often choose manganese steel over other metals because it does not need a coating or any other form of surface treatment. Consumption of refined alloys with reduced carbon content is increasing due to rise in production of low carbon steels. Use of low carbon silico manganese in stainless steels and alloy steels provides a more cost-effective production route, where a combination of manganese and silicon is required in a low carbon steel product.

High-carbon ferro manganese is the traditional form of manganese added to steels; however, its application is mostly limited to unalloyed and low-alloyed carbon steels. Medium and low carbon ferromanganese is used where the carbon content needs to be controlled and cannot be reduced after the addition of the ferroalloy. High carbon content provides desirable manganese alloy properties such as ductility, formability, strain hardening, and strength level parameters, which enables reducing the weight of vehicles and improvement in resistance against the effects of automobile accidents.

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