The global manganese carbonate market currently
demonstrates the presence of numerous small and medium-scale
companies. As per a new Transparency Market Research (TMR) report,
intense competition exists among these enterprises engaged in the
manufacturing different grades of manganese carbonate. In order to
gain a stronger hold in the market, companies such as American
Elements, Alfa Aesar, Zncus Chemical Co., Ltd., and GFS Chemicals,
Inc. are investing in the research and development of novel grades of
manganese carbonate. These companies are working closely with
consumers to develop products that cater to their dynamic
preferences.
Besides these, the leading companies in the market
are also looking to expand their production capacities by
capitalizing on untapped opportunities in emerging markets. Due to
the prevalence of these factors, the degree of competition in the
market is expected to remain high through the forecast period from
2015 to 2023.
This 120 page report gives readers a comprehensive
overview of the Manganese Carbonate market.Browse Market Research
Report @
Rising Use of Manganese Carbonate as Micronutrient
in Agriculture to Fuel its Demand
The rising use of manganese carbonate as an essential
agriculture micronutrient will considerably fuel their sales. This
chemical is often added to plant fertilizers as a treatment for crops
with manganese-deficiency. Agricultural sector still holds dominance
across several emerging economies in Asia Pacific and Latin America.
Hence, these regions are projected to provide lucrative opportunities
for manganese carbonate manufacturers, as they exhibit high demand
for micronutrient fertilizers.
“Since, manganese carbonate is used as a colorant
in ceramics and porcelain products, their increasing use in the
homeware industry will fuel demand from the manganese carbonate
market,” observed the author of the TMR study. The homeware market
witnesses lucrative opportunities in Asia Pacific and the Middle East
and Africa. Demand for porcelain and ceramics is thus high across
these regions, which translates into increased opportunities for
manganese carbonate sales.
Region-specific Concentration of Reserves to Limit
Scope for Expansion
One of the key factors favoring growth of the
manganese carbonate market in emerging regions such as Latin America,
Africa, and Asia Pacific is that a majority of manganese reserves are
concentrated in these regions. However, “Region-specific
concentration of manganese reserves have resulted in lesser global
opportunities for manufacturers,” states the TMR analyst. This
limits the market’s expansion in developed economies. Furthermore,
the majority of manufacturers have signed agreements with mining
companies located in close vicinity. This in turn hinders the entry
of new players in the market in the absence of favorable agreements.
Nevertheless, the potential applications of manganese
carbonate in concrete staining will boost its sales in the near
future. Concrete staining is slowly emerging as popular technique to
create decorate, durable, and easy to maintain home surfaces. The
rising use of manganese carbonate to stain concrete surfaces will
bolster its sales opportunities in the forthcoming years.
Based on volume, the agrochemicals segment reported
the highest demand for manganese carbonate in 2014. The segment held
over 68% of the manganese carbonate market in the year. Regionally,
Asia Pacific dominated the global manganese carbonate market, holding
a share of 75.5% in terms of volume in 2014.
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By revenue, the global manganese carbonate market
stood at US$322.2 mn in 2014. Exhibiting a CAGR of 4.2% between 2015
and 2023, the market is expected to reach US$464.1 mn by the end of
2023.
The review is based on findings of a TMR report,
titled “Manganese Carbonate Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Key Takeaway:
- Rising use of manganese carbonate as a micronutrient in agriculture to keep revenue growth steady.
- Accounting for 68% of the market in 2014, agrochemicals segment exhibited highest demand for manganese carbonate.
- Asia Pacific accounted for 75.5% of global demand for manganese carbonate in 2014.
The report segments the global manganese carbonate
market as:
Manganese Carbonate Market – Application
Analysis
- Agrochemicals
- Glaze Colorant
- Chemical Intermediates
- Others (Including Food Supplements and Medical)
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