September 12, 2022 12:30 ET | Source: Transparency Market Research Transparency Market Research

Albany, New York, UNITED STATES

Wilmington, Delaware, United States, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The market demand for manganese alloys stems from use of manganese in a wide range of alloys notably to impart high resistance and tactile strength to the final materials. An assessment of trends in the manganese alloys market underscores that there is an enormous consumption of the products in the manufacture of steel. The global market is projected to expand at a CAGR of 5.9% during 2022–2031.

Extensive utilization of manganese in form of ferroalloys during the production of steel is steering revenue generation in manganese alloys market. Demand for steel is likely to rise steadily from building & construction industry, thus shaping future of manganese alloys market. The alloys are stridently gathering traction for the manufacture of high-performance steel products, which key vendors in manganese alloys market are capitalizing on.

Over the years, the use of manganese alloys in steel production has gained significant fillip on the back of need for higher-quality steel with lower concentration of impurities. This is important for commercial producers in the manganese alloys market, since impurities degrades corrosion performance and ductility. The study found that of all the product types silicomanganese is widely used, and the segment led the global market in 2021.

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Key Findings of Manganese Alloys Market Study

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Manganese Alloys Market: Regional Dynamics

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Manganese Alloys Market Competition Landscape

The manganese alloys market is intensely competitive with several companies vying for a sizable share of the global market. Top players are leaning vertical integration of the value chain in a bid to consolidate their shares

Some of the key players in the Marubeni Tetsugen Co., Ltd., Transalloys (PTY) Ltd., Vale, Nippon Denko, South32, Monnet Group, Ferroglobe, Eramet S.A, and Maithan Alloys Ltd.

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