Global Ultra-High Purity Manganese Sulphate Market By Product Type (Uhpmsm And Hpmsm ), By Application (Battery Use And Other Uses), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2031
- Published date: Apr 2022
- Report ID: 68354
- Number of Pages: 228
- Format:
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Market.us announces the publication of its most recently generated research report titled, “Global Ultra-High Purity Manganese Sulphate Market by Product Type (UHPMSM and HPMSM ), By Application (Battery Use and Other Uses), and by Region – Global Forecast to 2029.”, which offers a holistic view of the Global Ultra-High Purity Manganese Sulphate Market through systematic segmentation that covers every aspect of the target market.
The Global Ultra-High Purity Manganese Sulphate Market is projected to be US$ 237.9 Mn in 2019 to reach US$ 1,886.7 Mn by 2029 at a CAGR of 23.7%.
Manganese is an abundant natural resource available on the earth’s surface, and it has various applications relevant to several key industries. The primary application of manganese is in the metallurgy sector used for the production of metal and steel alloy, in which manganese content improves the strength and various other properties of metals. More than 90% of manganese consumed is for steelmaking as an alloying element. The second most critical market for manganese is rechargeable and primary lithium-ion batteries. Manganese used in these Li-ion batteries also offers various applications including Electric Vehicles, Energy Storage Systems (ESS, renewable sources electricity storage, or grid-electricity storage,) and consumer electronics. Thus, it is expected that demand for batteries for electric vehicles (EVs) will dramatically increase in the coming years.
trending_up Total Revenue in 2018$ 237.9 Mn
trending_up Market CAGR of the Next Ten Years23.7%
no_encryption Market Value (US$ Mn), Share (%) and Growth Rate (%) Comparison 2012-2028Purchase this report or a membership to unlock the market value (US$ Mn), share (%) and growth rate (%) comparison for this industry.- By Type
- By Region
- By Application
no_encryption Leading Companies Financial HighlightsPurchase this report or a membership to unlock the leading companies financial highlights for this industry.trending_up Market Revenue of the Next Ten Years$ 1,886.7 Mn
Emerging applications of UHPMSM, such as portable devices, e-bikes, automated guided vehicles, energy storage systems, etc. are a major factor anticipated to fuel the growth of the target market. Fluctuating and volatility in prices of battery materials such as nickel and cobalt and their unreliable and limited supply results in high prices of batteries. On the other hand, manganese is abundantly available and comparatively much cheaper than nickel and cobalt. Abundant availability and low price of manganese are expected to positively affect the demand for the ultra-high-purity manganese sulphate market in the coming years.
Global Ultra-High Purity Manganese Sulphate Market Revenue (US$ Mn), 2019–2029
Growing government initiatives and regulations across various countries such as fiscal incentives, subsidies, fuel economy standards, ZEV mandate, etc. is another key factor driving the growth of the EV industry, thereby affecting the market for ultra-high-purity manganese sulphate favourably.
Currently, no companies produce ultra-high purity manganese sulphate. While the majority of companies claim they do provide superior battery-grade MnSO4. While there are very few companies that do not produce the highest grade, which is compatible with battery materials. This is expected to stagnate the current demand for the market. High preference for non-manganese batteries may also hamper the growth of the global ultra-high purity manganese sulphate market to some level in the coming years.
However, increasing efforts towards production of battery-grade ultra-high purity manganese sulphate, coupled with strong uptake by major battery and battery material producers is expected to provide lucrative growth opportunities to the target market
Global Ultra-High Purity Manganese Sulphate market is segmented based on product type, application, and region. Based on product type, the market is segmented into UHPMSM and HPMSM. The UHPMSM segment accounts for the majority share and is expected to register the highest growth over the forecast period, followed by HPMSM type. Emerging applications of ultra-high-purity manganese sulphate as a raw material for Chemical Manganese Dioxide (CMD) to replace Electrolytic Manganese Dioxide which is a critical component of the cathode material in modern alkaline, lithium, sodium and other batteries is also another factor that is expected to propel the growth of UHPMSM significantly in the coming years. Based on application, the market is segmented into battery use and other applications. The battery segment accounts for a majority share in the global ultra-high purity manganese sulphate market.
Global Ultra-High Purity Manganese Sulphate Market Attractiveness Analysis by Product Type, 2019
Based on the region, the market is segmented into North America, Europe, APAC, and other regions. The APAC owns the majority share in the global Ultra-High Purity Manganese Sulphate market, followed by North America, owing to the robust industrialization in these regions.
The research report on the global Ultra-High Purity Manganese Sulphate market includes profiles of some of the major companies such as PT Stern, Euro Manganese Inc., ISKY Chemicals Co., Ltd., Manganese X Energy Corp., Pilbara Metals Group (PMG), Element 25 Ltd. (Element 25), Keras Resources PLC and others.
Key Market Segments
Type
- UHPMSM
- HPMSM
Application
- Battery Use And Other Applications
Key Market Players included in the report:
- PT Stern
- Euro Manganese Inc.
- ISKY Chemicals Co.Ltd.
- Manganese X Energy Corp.
- Pilbara Metals Group (PMG)
- Element 25 Ltd. (Element 25)
- Keras Resources PLC
For the Ultra-High Purity Manganese Sulphate Market research study, the following years have been considered to estimate the market size:
Attribute Report Details Historical Years
2016-2020
Base Year
2021
Estimated Year
2022
Short Term Projection Year
2028
Projected Year
2023
Long Term Projection Year
2032
Report Coverage
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
Regional Scope
North America, Europe, Asia-Pacific, South America, Middle East & Africa
Country Scope
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Ultra-High Purity Manganese Sulphate MarketPublished date: Apr 2022add_shopping_cartBuy Now get_appDownload Sample - PT Stern
- Euro Manganese Inc.
- ISKY Chemicals Co.Ltd.
- Manganese X Energy Corp.
- Pilbara Metals Group (PMG)
- Element 25 Ltd. (Element 25)
- Keras Resources PLC
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