Global Manganese Alloys Market is expected to foresee significant growth. APAC to lead the growth!
- Vikas Kumar
- January 14, 2023
- CHEMICAL, NEWS
- Asia Manganese Alloys Market, Europe Manganese Alloys Market, Manganese Alloys, Manganese Alloys Market, Manganese Alloys Market analysis, Manganese Alloys Market forecast, Manganese Alloys Market growth, Manganese Alloys Market size, Manganese Alloys Market trend, Manganese Alloys Marketshare, Middle east Manganese Alloys Market, US Manganese Alloys Market
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Manganese alloy is an alloy steel containing an average of around 13% manganese. Manganese alloys are majorly known for their high-impact strength and resistance to abrasion once in their work-hardened state. In recent years, manganese alloys are used in the production of aluminum and copper alloys, special grades of stainless steel, and other special steels. Manganese alloys are also used for both cast and forged components. In addition, manganese alloy is used as a hardening agent in some steels, mixing manganese with gold, silver, bismuth, etc., to produce alloys that are used for very specific applications, generally related to the electronic industry.
The Manganese Alloys Market is expected to grow at a steady rate of around 6% owing to the increasing demand in the construction sector coupled with the growing adoption of manganese steels in the automotive sector. Major companies in the market offer manganese alloys for mining applications. For instance, by Dec 2021, Maithan Alloy’s spurts after IMFAL starts manufacturing ferro-alloys. The objective of the acquisition was expansion and to increase the production capacity of the company by 49,500 TPA of Silico Manganese (or 70,355 TPA) of Ferro Manganese.
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Based on type, the market is segmented into silicomanganese, high-carbon ferromanganese, medium & low-carbon (MLC) ferromanganese, and others. The silicomanganese category is to witness the highest CAGR during the forecast period owing to the high need for manganese steel production. The addition of silicon manganese during the steel-making process aids in obtaining low-carbon steels, which further increases the purity and strength of such alloy steels. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, Aug 2022, Arab Alloys launched EGP 1bn industrial complexes in SCZone. The company aimed to produce 48,000 tonnes of ferrosilicon and silicon manganese, to use in the iron, aluminum, and steel industries.
On the basis of application, the market is categorized into steel manufacturing, welding accessories, foundry, and others. Among these, steel manufacturing to hold a significant share of the market in 2020. This is because steel possesses some properties such as increased hardenability gains toughness, achieving better wear resistance, and others. Owing to these factors, manganese steel is used in offshore oil rigs, bridges, civil engineering and construction machines, pressure vessels, power plants, and hydroelectric plants. Thus, steel manufacturing is expected to grow during the forecasted period.
For a detailed analysis of the Global Manganese Alloys Market browse through– https://univdatos.com/report/manganese-alloys-market/
For a better understanding of the market adoption of the manganese alloys industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because of the investments in new construction projects, the rising adoption of high-carbon ferromanganese in the steel industry, and rapid urbanization in developing countries such as China, India, and Japan are driving the growth of the market. Moreover, the wide expanse of manufacturing businesses, the constant development of transportation, and other fields along with growth in expanding public-private cooperation for steel-related investments within the region coupled with supportive government initiatives for the ferrous metals industry are accelerating the growth of the market.
Some of the major players operating in the market include Eramet, Ferroglobe PLC, Maithan Alloys Ltd., Monnet Ispat and Energy Limited, South32, Nippon Denko Co. Ltd., Vale S.A., Transalloys (PTY) Ltd., Marubeni Tetsugen Co. Ltd, Pertama Ferroalloys Sdn. Bhd.
Global Manganese Alloys Market Segmentation
Market Insight, by Type
• Silicomanganese
• High-Carbon Ferromanganese
• Medium & Low-Carbon (Mlc) Ferromanganese
• Others
Market Insight, by Application
• Steel Manufacturing
• Welding Accessories
• Foundry
• Others
Market Insight, by Region
- North America
- US
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Eramet
- Ferroglobe PLC
- Maithan Alloys Ltd.
- Monnet Ispat and Energy Limited
- South32
- Nippon Denko Co. Ltd.
- Vale S.A.
- Transalloys (PTY) Ltd.
- Marubeni Tetsugen Co. Ltd
- Pertama Ferroalloys Sdn. Bhd
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