Manganese Alloy Market to Reach $42,004.4 Million by 2027; Gulf Mining Group Opens New Manganese Concentration Plant in Oman

The global manganese alloy market size is projected to reach USD 42,004.4 million by 2027. The increasing number of mining sites in Australia and Africa set to affect growth positively. Apart from this, the rising initiatives by regulatory bodies of Brazil, India, China, and South Africa to develop dwellings and infrastructure for the growing population are set to aid growth.  Fortune Business Insights™ presented this information in a new study, titled, “Manganese Alloy Market Size, Share & COVID-19 Impact Analysis, By Type (Silicomanganese, High Carbon – Ferromanganese, Medium & Low Carbon – Ferromanganese, and Others), Application (Steel Manufacturing, Welding Accessories, Foundry, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 25,615.7 million in 2019. But, it is set to exhibit a noteworthy CAGR of 7.4% during the forecast period between 2020 to 2027.

Maithan Alloy Acquires Salanpur Sinters and Anjaney Minerals to Expand its Portfolio

In June 2018, Maithan Alloy, a manufacturer of Ferro and manganese alloys headquartered in India successfully acquired Salanpur Sinters and Anjaney Minerals. The company’s alloys are utilized for producing various grades of steel. It is currently looking for both inorganic and organic opportunities to expand its business. This acquisition would help Maithan Alloys to broaden its existing product portfolio of manganese alloys.

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https://www.fortunebusinessinsights.com/industry-reports/manganese-alloy-market-101569

Rising Demand for Commercial Vehicles to Augment Growth

The automobile industry is the largest consumer of steel as the material provides excellent impact resistance and has a high strength-to-weight ratio. It helps in enhancing the strength of the body structures of vehicles. Also, the demand for commercial vehicles is surging for heavy works, as well as logistics. This factor is likely to propel the manganese alloy market growth in the near future. However, manganese alloy can be harmful to human health and lead to cognitive disorders and impairment of motor skills. It may hamper growth.

Key Players Aim to Gain Competitive Edge through Acquisition Strategy

The global market for manganese alloys contains many reputed manufacturers. Eramet is one of the companies because of their constant involvement in metallurgical and mining activities. It also delivers manganese alloy all over the world. Some of the other companies are aiming to expand their portfolios and gain a competitive edge by adopting the acquisition strategy.

Fortune Business Insights™ presents a list of the renowned manganese alloy manufacturers operating in the global market. They are as follows:

• Eramet (France)
• FerroGlobe (United Kingdom)
• Maithan Alloys Ltd. (India)
• NavaBharat (India)
• ROHIT FERRO-TECH LIMITED (India)
• Vale (Brazil)
• OM Holdings Ltd. (Singapore)
• Hickman, Williams & Company (United States)
• Marubeni Tetsugen Co., Ltd. (Japan)
• Guangxi Jinmeng Manganese Industry Co., Ltd. (China)
• Citic Dameng Mining Industries Limited (China)
• Inner Mongolia Yao Kui Special Ferroalloy Co. Ltd. (China)
• Gulf Manganese (Australia)
• Tata Steel (India)
• Transalloys (south Africa)
• Simpac (South Korea)
• MOIL (India)
• Other Key Players

A Notable Industry Development-

• September 2019: Gulf Mining Group, a renowned mining company based in Oman opened its manganese concentration plant in the country. It will help in improving Oman’s exports of manganese. The product is extensively used in a wide range of applications, such as plastics, alloys, glass, batteries, textiles, fertilizers, and more. It would produce approximately 15,000 tons of manganese per month.

Further Report Findings-

• In 2019, Asia Pacific stood at USD 18,084.9 million in terms of revenue. This growth is attributable to the increasing demand for high-carbon ferromanganese in the steel industry.
• Europe would also exhibit high growth backed by the rising initiatives by automakers to reduce the weight of trucks and cars.
• Based on type, the silicomanganese segment earned 70.4% in terms of manganese alloy market share in 2019 in China. It occurred because of the high demand for the manufacturing of manganese steel.
• The foundry segment under application generated 2.8% in terms of share in 2019.

The global market for manganese alloy can be segmented in the following way: