Global Manganese Alloys Market
Global Manganese Alloys Market was valued US$ 11.45 Bn in 2018 and is expected to reach US$ 17.93 Bn by 2026, at a CAGR of 5.11 % during a forecast period.
Demand for steel is anticipated to rise rapidly because of rise in capacity expansion in the automotive industry. The global automotive industry, which includes passenger cars, trucks, and heavy duty vehicles, is projected to grow at a significant pace during the forecast period. Around 90.9 million units of passenger cars and commercial vehicles were manufactured in 2018. Global sales of cars and commercial vehicles greater than before in the last few years. This, in sequence, drives the demand for manganese alloys.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The production cost of manganese alloys depends on key variables such as cost of power, cost of raw materials, cost of labor, and cost of transport. The production process power intensive as it requires high temperatures and high power, thus, the production cost is high. Thus, the high production cost and market volatility are expected to hinder the manganese alloys market. Several governments have imposed strict mining regulations for the extraction of manganese. It ultimately obstructs the production cost of manganese alloys.
Demand for manganese-based steel alloys is rising in automotive applications because of high demand for weight saving to reduce fuel consumption. Manganese and steel are alloyed together to decrease the weight of the component. The addition of manganese alloys to steel creates favorable properties such as high thermal conductivity, good castability, high corrosion resistance, and machinability.
The report covers profiles of major companies operating in global manganese alloys market. These players participate in developing new technologies and acquisitions to garner larger share of the market.
Geographically, Asia Pacific dominated the global market in 2018, as the region is an automotive and industrial hub. Furthermore, the market in Asia Pacific is expected to increase at a significant pace during the forecast period because of the rise in demand for automobiles in the region, mainly in emerging countries such as China and India.
The global manganese alloys market has been provided in terms of value (US$ Bn) and volume (Kilo Tons). The report contains in depth value chain analysis, which provides a comprehensive view of global manganese alloys market. The study includes market attractiveness analysis, in which type, application, and region are benchmarked based on their market size, growth rate, and general attractiveness.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global manganese alloys market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global manganese alloys market.
Scope of Global Manganese Alloys Market
Global Manganese Alloys Market, By Type
• High Carbon Ferromanganese
• Refined Ferromanganese
• Silicomanganese
Global Manganese Alloys Market, By Application
• Steel
• Superalloys
• Others (including Foundry and Welding Electrodes)
Global Manganese Alloys Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Manganese Alloys Market
• ERAMET S.A.
• South32
• Ferroglobe
• ArcelorMittal
• Jindal Stainless Ltd
• Sakura Ferroalloys Sdn. Bhd.
• Pertama Ferroalloys Sdn. Bhd.
• Mortex Group
• Georgian American Alloys
• Nikopol Ferroalloy Plant
• Maithan Alloys Ltd.
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