Manganese is a chemical element that is commonly found in the Earth's crust. It is typically extracted from Manganese Ore and is used for a variety of purposes. This silver-gray metal is known for its unique properties such as its high melting point and ability to resist corrosion. Manganese is a crucial element for the human body, as it helps with bone formation and acts as a cofactor in various enzyme reactions. It is also used in the manufacturing of steel and other alloys, making it an essential component in various industries.
The production of Manganese from Manganese Ore is done through a series of processes, which typically involve crushing, washing, and purification. The end result is a high-purity Manganese product that is ready for use in various applications.
Benefits and Applications of Manganese
ü Steel Production: Manganese is essential in the production of virtually all types of steel. It improves the workability of the steel at high temperatures because it forms a high melting sulfide and therefore prevents the formation of a liquid iron sulfide at the grain boundaries. Manganese also acts as a deoxidizer and combines with sulfur, thereby improving the hot-working properties of the steel.
ü Aluminum Alloys: Manganese is used as an alloying element in aluminum, where it adds corrosion resistance, hardness, and strength without increasing the weight of the materials too much.
ü Batteries: Manganese dioxide is used in dry cell batteries, such as the alkaline battery and the zinc-carbon battery.
ü Chemical Applications: In the chemical industry, manganese dioxide is used for the production of potassium permanganate, which is used in water treatment, disinfectants, deodorizers, and as an antidote for certain poisonings.
ü Other Uses: It's also used in other industries for creating bricks, ceramics, and glass, and even in the oil industry where it's a component in unleaded gasoline.
Indian Market Outlook
Manganese is a crucial element in many industries, and India is no exception. India has been steadily increasing its production and consumption of Manganese in recent years, primarily due to the growth of its steel industry. India is the third-largest producer of steel globally, and Manganese is a key ingredient in steel production. Therefore, as the demand for steel increases in the country, so does the demand for Manganese. The Indian Manganese market is primarily driven by the domestic steel industry, which accounts for around 90% of the country's total Manganese consumption. Moreover, India has vast Manganese ore reserves and ranks among the top five producers globally. In the fiscal year 2020-21, India produced 2.39 million tons of Manganese, an increase of 5.94% from the previous fiscal year.
The Indian government has been focusing on boosting the country's steel industry and has announced various schemes and policies to support the sector's growth. The "Make in India" campaign, launched in 2014, aims to promote domestic manufacturing and attract foreign investments. It has helped to boost the steel industry and, consequently, the Manganese industry in India.
Furthermore, the Indian government's National Steel Policy 2017 aims to increase the country's steel production capacity to 300 million tons by 2030. This target would significantly increase the demand for Manganese in the country.
Global Market Outlook
The manganese market size was valued at USD 22.1 billion in 2021. The manganese industry is projected to grow from USD 23.21 billion in 2022 to USD 32.70 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.02% during the forecast period (2022 - 2030). It is primarily used for strengthening the alloys of aluminum and copper. However, the coloring agent is the fastest-growing category over the forecast period due to the growing demand for coloring agents in the automotive industry. Hence, positively impacts market growth. The Asia-Pacific manganese market accounts for the second-largest market share due to growing demand from the countries such as India, China, and Japan. With rapid urbanization, especially in developing economies, investments in recent construction projects have been growing over recent years. Asia Pacific has a prominent share in the construction sector investments due to the growth in investments in China, India, Japan, and other countries. Moreover, China manganese market held the largest market share, and the India manganese market was the fastest-growing market in the Asia-Pacific region.
Conclusion
The future of the Manganese business is quite bright, and it is one of the fastest-growing markets globally. The demand for Manganese is continually increasing, and it is essential in many industries, including steel, batteries, and agriculture. Manganese is an essential component of rechargeable lithium-ion batteries, which are used in electric cars and other electronic devices. With the rapid growth of the electric vehicle market, the demand for Manganese will increase exponentially, creating new business opportunities for entrepreneurs.
Key Players
· Anglo American PLC (UK)
· Assore Limited (Assmang Proprietary Limited) (South Africa)
· Autlán (Mexico)
· BHP (Australia)
· Carus Group Inc. (US)
· Eramet (France)
· Jupiter Mines Limited (South Africa)
· Mesa Minerals Limited (Australia)
· MOIL LIMITED (India)
