Ferro-Manganese Market

The article explores the increasing demand for ferro-manganese worldwide, with projections for market performance, consumption trends, volume, and value over the next eight years. Consumption patterns, market shares, and production statistics are analyzed, providing valuable insights into the global ferro-manganese market.

Market Forecast

Driven by increasing demand for ferro-manganese worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 8.5M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market value to $11.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ferro-Manganese

In 2022, the amount of ferro-manganese consumed worldwide stood at 7.5M tons, almost unchanged from 2021 figures. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak volume of 7.7M tons. From 2020 to 2022, the growth of the global consumption remained at a lower figure.

The global ferro-manganese market revenue totaled $9.4B in 2022, almost unchanged from 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, consumption recorded a relatively flat trend pattern. Global consumption peaked in 2022 and is likely to continue growth in years to come.

Consumption By Country

The country with the largest volume of ferro-manganese consumption was China (2.2M tons), comprising approx. 29% of total volume. Moreover, ferro-manganese consumption in China exceeded the figures recorded by the second-largest consumer, India (1M tons), twofold. The third position in this ranking was held by Norway (732K tons), with a 9.8% share.

In China, ferro-manganese consumption shrank by an average annual rate of -3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+12.9% per year) and Norway (+3.9% per year).

In value terms, China ($3.3B) led the market, alone. The second position in the ranking was held by Japan ($663M). It was followed by the United States.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at -3.8%. In the other countries, the average annual rates were as follows: Japan (-2.7% per year) and the United States (+2.6% per year).

In 2022, the highest levels of ferro-manganese per capita consumption was registered in Norway (134 kg per person), followed by the United Arab Emirates (17 kg per person), Australia (5.5 kg per person) and Japan (4.5 kg per person), while the world average per capita consumption of ferro-manganese was estimated at 0.9 kg per person.

From 2012 to 2022, the average annual rate of growth in terms of the ferro-manganese per capita consumption in Norway amounted to +3.0%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United Arab Emirates (+31.7% per year) and Australia (-1.0% per year).

Production

World Production of Ferro-Manganese

In 2022, global ferro-manganese production shrank to 7.3M tons, almost unchanged from 2021 figures. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 17%. As a result, production attained the peak volume of 7.5M tons. From 2020 to 2022, global production growth failed to regain momentum.

In value terms, ferro-manganese production shrank to $7.9B in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 51% against the previous year. Global production peaked at $8.8B in 2021, and then fell in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (2.2M tons), India (1.6M tons) and Norway (994K tons), with a combined 65% share of global production. Japan, South Korea, Malaysia, Russia, South Africa, Ukraine, Brazil, Australia and Spain lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Malaysia (with a CAGR of +30.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Ferro-Manganese

In 2022, global imports of ferro-manganese totaled 2.2M tons, remaining relatively unchanged against 2021. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 27%. Global imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, ferro-manganese imports soared to $4B in 2022. Over the period under review, imports posted noticeable growth. The most prominent rate of growth was recorded in 2017 with an increase of 93% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the United States (385K tons), distantly followed by the United Arab Emirates (187K tons), Germany (183K tons), the Netherlands (171K tons), Italy (116K tons) and Turkey (107K tons) represented the largest importers of ferro-manganese, together comprising 52% of total imports. The following importers - Japan (98K tons), Iran (92K tons), Brazil (77K tons), Canada (74K tons), Taiwan (Chinese) (74K tons), Poland (45K tons) and India (43K tons) - together made up 23% of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of ferro-manganese. At the same time, the United Arab Emirates (+19.9%), Iran (+8.9%), Turkey (+7.1%), the Netherlands (+7.0%), Poland (+3.8%), Brazil (+3.5%) and Italy (+3.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the world, with a CAGR of +19.9% from 2012-2022. Canada, India and Germany experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.1%) and Japan (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, the Netherlands, Iran and Turkey increased by +7, +3.5, +2.2 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($733M) constitutes the largest market for imported ferro-manganese worldwide, comprising 18% of global imports. The second position in the ranking was taken by the United Arab Emirates ($349M), with an 8.6% share of global imports. It was followed by the Netherlands, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +3.7%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+27.2% per year) and the Netherlands (+9.9% per year).

Imports By Type

Ferro-alloys; ferro-manganese, containing by weight more than 2% of carbon represented the largest imported product with an import of around 1.4M tons, which resulted at 65% of total imports. It was distantly followed by ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon (759K tons), creating a 35% share of total imports.

From 2012 to 2022, the biggest increases were recorded for ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon (with a CAGR of +1.9%).

In value terms, the largest types of imported ferro-manganese were ferro-alloys; ferro-manganese, containing by weight more than 2% of carbon ($2.1B) and ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon ($1.9B).

Among the main imported products, ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon, with a CAGR of +6.5%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices By Type

In 2022, the average ferro-manganese import price amounted to $1,847 per ton, with an increase of 22% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-manganese import price increased by +70.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 54% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon ($2,506 per ton), while the price for ferro-alloys; ferro-manganese, containing by weight more than 2% of carbon amounted to $1,498 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon (+4.6%).

Import Prices By Country

In 2022, the average ferro-manganese import price amounted to $1,847 per ton, picking up by 22% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-manganese import price increased by +70.3% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 54% against the previous year. Global import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($2,559 per ton), while Iran ($1,179 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+6.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ferro-Manganese

In 2022, the amount of ferro-manganese exported worldwide dropped to 2M tons, which is down by -5.3% against the previous year. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. The global exports peaked at 2.2M tons in 2021, and then declined in the following year.

In value terms, ferro-manganese exports expanded markedly to $3.7B in 2022. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 110%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

In 2022, India (575K tons), distantly followed by Malaysia (272K tons), Norway (266K tons), South Korea (172K tons), South Africa (144K tons) and the Netherlands (143K tons) represented the major exporters of ferro-manganese, together achieving 77% of total exports. France (86K tons), the United Arab Emirates (64K tons), Italy (60K tons), Russia (40K tons), China (35K tons) and Germany (35K tons) held a minor share of total exports.

Exports from India increased at an average annual rate of +14.6% from 2012 to 2022. At the same time, Malaysia (+115.6%), France (+48.0%), Italy (+17.7%), the United Arab Emirates (+11.9%), Germany (+11.4%), the Netherlands (+9.6%) and China (+5.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +115.6% from 2012-2022. By contrast, Norway (-3.3%), South Korea (-4.2%), Russia (-5.7%) and South Africa (-14.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Malaysia, France, the Netherlands, Italy and the United Arab Emirates increased by +21, +13, +4.1, +4.1, +2.3 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ferro-manganese supplying countries worldwide were India ($858M), Norway ($599M) and Malaysia ($461M), with a combined 51% share of global exports.

Among the main exporting countries, Malaysia, with a CAGR of +122.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

In 2022, ferro-alloys; ferro-manganese, containing by weight more than 2% of carbon (1.3M tons) represented the major type of ferro-manganese, creating 62% of total exports. It was distantly followed by ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon (771K tons), mixing up a 38% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exported products, was attained by ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon (with a CAGR of +0.5%).

In value terms, ferro-alloys; ferro-manganese, containing by weight more than 2% of carbon ($1.9B) and ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon ($1.9B) appeared to be the products with the highest levels of exports in 2022.

In terms of the main exported products, ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon, with a CAGR of +5.6%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices By Type

In 2022, the average ferro-manganese export price amounted to $1,831 per ton, picking up by 17% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-manganese export price increased by +69.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 50% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon ($2,411 per ton), while the average price for exports of ferro-alloys; ferro-manganese, containing by weight more than 2% of carbon amounted to $1,478 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by ferro-alloys; ferro-manganese, containing by weight 2% or less of carbon (+5.0%).

Export Prices By Country

In 2022, the average ferro-manganese export price amounted to $1,831 per ton, picking up by 17% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-manganese export price increased by +69.8% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 50%. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($2,366 per ton), while France ($1,464 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+6.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform