APAC’s Increasing Steel Consumption Boosting Manganese Mining Market

Manganese ranks fifth among the most abundant metals found in the crust of the earth. It is reactive in nature and due to its advantageous traits like being chemically active with air, water and numerous acids, it has found an enormous range of industrial applications. Globally expanding sectors such as iron and steel are the dominant, rapidly growing end-use industries of the magnesium mining market. Other areas of application affecting the market growth are alloys, transportation, oil and gas refineries, construction sector, and others. Manganese ore acquired are mostly used as an alloying element in these industries.

Apart from these application segments, an in-depth analysis of the market states some pivotal factors which are affecting the market growth such as the evolution of primitive mining methods to advanced remote technology and enhancement of transportation networks to make the operations more economical.

Global manganese mining market: disruptive trends

v  The rapidly flourishing steel sector is fueling the manganese market growth. Manganese is applied in every type of steel to increase its tensile strength, wear resistance, and deplete its corrosion tendency. Growing automotive sector consequence the increment of steel consumption which automatically reflects positively on the manganese mining market.

v  Flourishing trends of electrical automotive is likely to foster manganese demand. Such vehicles require alkaline batteries to operate, which are manufactured by the use of manganese.

v  Increasing urban population and surge in disposable income has ensured substantial investment in infrastructures, particularly across emerging economies. Steel structures are taking over the primitive concrete counterparts and boosting the global demand for steel and thereby having a direct impact on the manganese mining market.

Expanding Indian and Chinese Industrial Base Makes APAC a Fruitful Region:

China, India, and Japan are the dominant countries across the globe in terms of crude steel producing capacity. This factor makes the APAC region the most significant buyer of manganese production output. The aspects influencing such trade are the flourishing steel consuming enormous sectors such as automotive and construction aided by the urban populace. Other segments of applications include manufacturing of alloys by reacting with elements like aluminum and copper. It enhances the industrial performance of the later elements and supplements it with versatility and flexibility for multipurpose.

Manganese mining market: Competitive landscape:

As per the IndustryARC’s business intelligence insights, around 80% of manganese resources are found in South Africa but are also mined in other countries including Australia, China, India, Ukraine, Brazil, and Gabon. Some of the companies listed in this report are Assmang, BHP Billiton, Consolidated Minerals, ERAMET, and Vale. All these key players, in a bid to stay ahead of the curve, are consistently adapting latest mining technologies. Transport terminal is rewarding investments done by the companies to make the process from mines to processing plants time efficient.

Conclusion:

The application of manganese in the steel and iron industries for various processes like smelting, deoxidization, desulfuration, and manufacturing are the major market growth drivers. According to the future outlook, the automotive sector’s leap from fuel to battery operated vehicles is forecasted to boost the market in the coming years.