Market.biz announces 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. 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 includes Electric Vehicles, Energy Storage Systems (ESS, renewable sources electricity storage, or grid-electricity storage,) and consumer electronics. Thus, it is expected that demand from batteries for electric vehicles (EVs) will dramatically increase in the coming years.

Emerging applications of UHPMSM, such as portable devices, e-bikes, automated guided vehicles, energy storage systems, etc. is a major factor anticipated to fuel 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 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 growth of the EV industry, thereby affecting the market for ultra-high purity manganese sulphate favorably.

Currently, no companies produce ultra-high purity manganese sulphate. While majority of companies claim they do provide the 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 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: