Global Manganese Carbonate Market – Key Trends
The global manganese carbonate market currently witnesses the most lucrative prospects in emerging regions such as Asia Pacific, Latin America, and Africa. The high concentration of manganese reserves has catapulted these regions at the fore of the manganese carbonate market. As per Transparency Market Research (TMR), the increasing use of manganese carbonate as a micronutrient in the agricultural sector will considerably fuel its demand. The market is also expected to gain from its rising application in porcelain and ceramics used in the homeware market.
Despite the overall prospects for the market being quite promising, the region-specific concentration of manganese reserves limits the scope for the market in developed regions. Nevertheless, TMR expects manganese carbonate manufacturers to significantly gain from the chemical’s potential applications in concrete staining, which is the latest trend in the interior designing industry.
As per TMR’s forecast, the global manganese carbonate market, which stood at US$322.2 mn in 2014, is expected to reach US$464.1 mn by the end of 2023. The market will exhibit a CAGR of 4.2% between 2015 and 2023.
Booming Agriculture Sector in Asia Pacific to Fuel Application of Manganese Carbonate
Regionally, Asia Pacific accounted for the highest demand for manganese carbonate in 2014. As per TMR, the region held over 75.5% of the global manganese carbonate market in 2014, based on volume. Demand for manganese carbonate stood at 264,677.6 tons in 2014. China and India were among the highest contributors to the Asia Pacific manganese carbonate market. The rapid growth in the region’s agricultural sector is expected to seal Asia Pacific’s dominance in the global manganese carbonate market.
Besides this, Latin America also offers rising opportunities for manganese carbonate producers. In this region as well, the expansion of the agricultural industry boosts demand for manganese carbonate. In the Middle East rising demand for glaze colorant in agrochemical applications will bolster opportunities for the manganese carbonate market. However, in developed regions such as North America and Europe the market is expected to witness only meager growth.
Agrochemicals to Remain the Largest Application Segment through Forecast Period
Demand for manganese carbonate is expected to surge exponentially in agrochemicals applications. The high consumption of manganese carbonate-based agrochemicals across emerging economies of Asia Pacific is considerably fuelling the demand for manganese carbonate from the market. Being an essential micronutrient, manganese carbonate is used extensively in animal feed applications, which also contributes to the expansion of the application segment. As per TMR, the agrochemicals segment in the manganese carbonate market is expected to report a CAGR of 3.2% based on volume, between 2015 and 2023. Accounting for a share of over 68%, the agrochemicals industry emerged as the leading application segment in the market in 2015. It is expected to remain the largest application through the forecast period
Besides this the use of manganese carbonate in the glaze colorant application is expected to spike in the forthcoming years. Its use in the chemical intermediate segment is also projected to rise gradually over the forecast period.
Some of the most prominent companies operating in the global manganese carbonate market include Alfa Aesar, All-Chemie, Ltd., American Elements, Airedale Chemical Company Limited, Mil-Spec Industries Corporation, Sunrise Enterprise, and Zncus Chemical Co., Ltd.
Manganese carbonate is a water-insoluble source of manganese that can be converted into other manganese compounds such as manganese oxide by calcination. Manganese carbonate occurs naturally as mineral rhodochrosite. It is available in variety of colors such as pink, red, grey, yellow, and brown. In terms of demand, agrochemicals accounts for major share of the global manganese carbonate market. Additionally, manganese carbonate can be used in other value-added applications such as glaze colorants. It can also be employed as a chemical intermediate for synthesis of other chemical compounds. Furthermore, manganese carbonate can be used as a hematinic in the medical industry and as supplement in the food industry.
Manganese carbonate ore deposits are commonly found in South Africa, China, Gabon, Ghana, and Brazil. Obtained through underground excavation, these deposits are subjected to the beneficiation technology in order to remove undesirable impurities. The Xialei manganese mine at Daxin, Guangxi, China; and Nsuta manganese mine, Tarkwa, Western Region, Ghana are two of the largest deposits of manganese carbonate ore in the world. The Nsuta manganese mine is owned and operated by Ghana Manganese Company Ltd. (GMC). Majority of manganese carbonate ore from the Nsuta manganese mine is exported to Ukraine, China, and Norway. CITIC Dameng Holdings Limited, an investment holding company, owns and operates the Xialei manganese mine.
This study analyzes, estimates, and forecasts the global manganese carbonate market in terms of volume (Tons) and revenue (US$ Thousand) from 2014 to 2023. Market numbers given in the report describe the global demand for manganese carbonate, but not the production or supply. The manganese carbonate report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
The report provides detailed analysis of the manganese carbonate market by key applications. It segments the market into the following key applications: agrochemicals, glaze colorant, chemical intermediates, and others (food supplement, medical, etc.). The report also segments the market based on major geographies into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It further provides volume and revenue for each application segment for each region. This includes 12 unique country-specific analysis.
Based on the application, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain from raw material manufacturers to end-users. Additionally, the study analyzes market competition through Porter’s Five Forces analysis.
Key market participants profiled in the study include All-Chemie, Ltd, Airedale Chemical Company Limited, American Elements, Alfa Aesar, Akshar Chemicals, Sunrise Enterprise, Chemalloy, GFS Chemicals, Inc., Mil-Spec Industries Corporation, and Zncus Chemical Co., Ltd. Profiles of key participants comprise important parameters such as company overview, financial overview, business strategy, and recent developments.
Primary research represents the majority of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of technical writing, recent trade, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and fruitful approach for procuring precise market data, recognizing business opportunities, and capturing industry participants’ insights.
Secondary research sources that are referred to include external proprietary databases, company websites, textbooks, financial reports, commentaries, broker reports, annual reports, investor presentations, and relevant patent and regulatory databases, statistical databases, and market reports, news articles, press releases and webcasts specific to the companies operating in the market. Secondary sources referred for this study include the European Union (EU), The International Manganese Institute (IMnI), The United States Geological Survey (USGS), ICIS, and company presentations.
The report segments the global manganese carbonate market as:
Manganese Carbonate Market - Application Analysis
- Glaze Colorant
- Chemical Intermediates
- Others (Including Food Supplements and Medical)
Manganese Carbonate Market - Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa