Manganese Ore and Concentrate Market

The global market for manganese ores and concentrates is projected to increase in both volume and value over the next eight years, with China leading the way as the largest consumer and importer. South Africa stands out as the largest producer and exporter of manganese ore and concentrate. The market has seen some fluctuations in consumption, production, imports, and exports over the analyzed period, with noticeable growth rates in certain countries. Overall, the market is showing steady growth in various regions around the world.

Market Forecast

Driven by increasing demand for manganese ores and concentrates worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 94M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $20.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Manganese Ores and Concentrates

Global manganese ore and concentrate consumption shrank slightly to 74M tons in 2022, waning by -2.2% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption hit record highs at 76M tons in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global manganese ore and concentrate market value expanded rapidly to $14.5B in 2022, surging by 9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +20.8% against 2020 indices. Over the period under review, the global market hit record highs at $14.8B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

China (36M tons) constituted the country with the largest volume of manganese ore and concentrate consumption, accounting for 49% of total volume. Moreover, manganese ore and concentrate consumption in China exceeded the figures recorded by the second-largest consumer, India (8M tons), fivefold. The third position in this ranking was taken by Australia (6.4M tons), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +3.1%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+5.5% per year) and Australia (+29.3% per year).

In value terms, China ($7B) led the market, alone. The second position in the ranking was held by India ($1.7B). It was followed by Australia.

From 2012 to 2022, the average annual growth rate of value in China totaled +3.9%. In the other countries, the average annual rates were as follows: India (+6.2% per year) and Australia (+27.2% per year).

The countries with the highest levels of manganese ore and concentrate per capita consumption in 2022 were Australia (244 kg per person), Norway (228 kg per person) and Ghana (174 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Australia (with a CAGR of +27.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Manganese Ores and Concentrates

In 2022, approx. 65M tons of manganese ores and concentrates were produced worldwide; which is down by -1.8% compared with the year before. The total output volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 10% against the previous year. Over the period under review, global production attained the maximum volume at 66M tons in 2021, and then reduced modestly in the following year.

In value terms, manganese ore and concentrate production fell to $9.4B in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. Over the period under review, global production reached the maximum level at $11B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

South Africa (22M tons) remains the largest manganese ore and concentrate producing country worldwide, accounting for 34% of total volume. Moreover, manganese ore and concentrate production in South Africa exceeded the figures recorded by the second-largest producer, Gabon (9M tons), twofold. The third position in this ranking was taken by Australia (6.3M tons), with a 9.7% share.

In South Africa, manganese ore and concentrate production expanded at an average annual rate of +9.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Gabon (+10.3% per year) and Australia (-1.3% per year).

Imports

World Imports of Manganese Ores and Concentrates

Global manganese ore and concentrate imports dropped modestly to 43M tons in 2022, waning by -4.6% on the year before. Overall, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 58% against the previous year. Over the period under review, global imports attained the maximum at 46M tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, manganese ore and concentrate imports totaled $8.9B in 2022. Over the period under review, imports, however, showed a resilient increase. The growth pace was the most rapid in 2017 with an increase of 103% against the previous year. Over the period under review, global imports reached the maximum at $9.1B in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, China (30M tons) represented the key importer of manganese ores and concentrates, committing 71% of total imports. It was distantly followed by India (5.2M tons), committing a 12% share of total imports. Norway (1.3M tons), South Korea (1.1M tons), Malaysia (1M tons) and Japan (0.9M tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to manganese ore and concentrate imports into China stood at +9.4%. At the same time, Malaysia (+121.7%), India (+8.0%) and Norway (+1.6%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +121.7% from 2012-2022. By contrast, South Korea (-1.5%) and Japan (-2.8%) illustrated a downward trend over the same period. While the share of China (+17 p.p.), Malaysia (+2.4 p.p.) and India (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Norway (-1.7 p.p.), South Korea (-3 p.p.) and Japan (-3 p.p.) displayed negative dynamics.

In value terms, China ($5.9B) constitutes the largest market for imported manganese ores and concentrates worldwide, comprising 66% of global imports. The second position in the ranking was taken by India ($1.2B), with a 13% share of global imports. It was followed by Norway, with a 3.6% share.

In China, manganese ore and concentrate imports increased at an average annual rate of +10.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (+9.3% per year) and Norway (+4.1% per year).

Import Prices By Country

The average manganese ore and concentrate import price stood at $208 per ton in 2022, growing by 19% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 28%. Global import price peaked at $229 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($279 per ton) and South Korea ($261 per ton), while China ($194 per ton) and India ($228 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+2.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Manganese Ores and Concentrates

In 2022, the amount of manganese ores and concentrates exported worldwide contracted to 34M tons, shrinking by -4.6% against the year before. Overall, total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -4.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 23% against the previous year. As a result, the exports reached the peak of 35M tons. From 2020 to 2022, the growth of the global exports remained at a lower figure.

In value terms, manganese ore and concentrate exports stood at $6.1B in 2022. In general, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +21.8% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 54%. The global exports peaked at $6.1B in 2018; afterwards, it flattened through to 2022.

Exports By Country

South Africa was the main exporting country with an export of around 21M tons, which accounted for 61% of total exports. It was distantly followed by Gabon (8M tons), generating a 24% share of total exports. Brazil (1,121K tons), Cote d'Ivoire (986K tons), Malaysia (740K tons), the United Arab Emirates (584K tons) and Myanmar (540K tons) followed a long way behind the leaders.

Exports from South Africa increased at an average annual rate of +10.0% from 2012 to 2022. At the same time, Cote d'Ivoire (+24.0%), the United Arab Emirates (+22.5%), Gabon (+11.2%) and Myanmar (+6.5%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in the world, with a CAGR of +24.0% from 2012-2022. By contrast, Brazil (-3.2%) and Malaysia (-3.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa, Gabon and Cote d'Ivoire increased by +25, +11 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest manganese ore and concentrate supplying countries worldwide were South Africa ($2.9B), Gabon ($2B) and Brazil ($128M), with a combined 83% share of global exports. The United Arab Emirates, Cote d'Ivoire, Myanmar and Malaysia lagged somewhat behind, together comprising a further 4.7%.

The United Arab Emirates, with a CAGR of +20.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average manganese ore and concentrate export price stood at $179 per ton in 2022, picking up by 18% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 35% against the previous year. The global export price peaked at $212 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Gabon ($255 per ton), while Malaysia ($48 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+1.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform