According to Mordor Intelligence, the global manganese market is projected to increase from 24.14 million tons in 2025 to 29.19 million tons in 2030, with a compound annual growth rate (CAGR) of 3.87%. The steel industry remains the main end-user of manganese (approximately 85-90%), but the growing demand in the battery and power storage sectors will drive market expansion.
Asia-Pacific region: Accounts for over 60% of the global manganese market. China, India and Southeast Asia are the main consumer markets. India's manganese production is expected to reach 800,000 tons in 2024, and is projected to increase by 10-15% by 2030 due to the growth in demand from the steel and battery industries.
Africa: South Africa and Gabon are the core suppliers of global manganese ore. In 2024, they produced 7.4 million tons and 4.5 million tons respectively. Projects such as the Tshipi mine in South Africa will continue to expand capacity, with an estimated annual growth rate of 2-3% from 2025 to 2030.
North America and Europe: Manganese consumption in North America mainly relies on imports, but local HPMSM projects (such as the plan of the Manganese Metal Company in the United States) will gradually change this situation. Due to the expansion of the electric vehicle industry in Europe, the demand for manganese is expected to grow at a compound annual growth rate of 5-6%.
