Global Silico Manganese Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Silico Manganese Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Silico Manganese is an alloy with 65% to 68% manganese, 16% to 21% silicon, and 1.5% to 2% carbon. It is produced by smelting of slag from high-carbon Ferro Manganese or of Manganese ore with coke and a quartz flux. Smelting temperatures are high and greater energy is needed to reduce the quartz to silicon.

Market Overview:

The latest research study on the global Silico Manganese market finds that the global Silico Manganese market reached a value of USD 16750.48 million in 2022. It’s expected that the market will achieve USD 23786.48 million by 2028, exhibiting a CAGR of 6.02% during the forecast period.

Due to the spread of COVID-19, the mining of manganese ore is restricted to inhibit growth

The spread of COVID-19 has severely affected the mining industry. The transportation and logistics industry has been affected, and it has also caused the interruption of the product supply chain. The top 5 manganese producers in South Africa, Australia, China, Gabon and Brazil will be in a period of complete lock-up for a long time. This restriction not only affects mining activities in these countries, but also severely affects import and export activities. This led to the interruption of manganese ore supply and silico manganese production. In addition, by 2020, production activities in the steel industry in many countries have ceased. This has led to a significant reduction in the absorption of these silico manganese in the steel industry.

Policy-oriented opportunities

The silico manganese industry is one of the important industries in many countries. The development of this industry is relatively heavily influenced by national policies. The so-called policy orientation refers to the relevant policies formulated by the government to restrict the industry in order to coordinate the development of the industry. The policy orientation also has a certain impact on the development of the silico manganese industry. In addition, the increasing environmental protection efforts have led to high profits for steel mills, but the release of concentrated production may be small. In addition to the implementation of new steel standards, the demand for silico manganese can be expected to increase in the future. This factor may bring more development opportunities to the silico manganese market.

Fluctuations in production costs

The analysis of the two important resources of silicon and manganese in the silico manganese industry shows that in the specific production process, its costs need to be controlled, and thus the specific profit model of the industry is displayed. In the Silico Manganese production process, the cost requirements for electricity are more of a manifestation, and the cost of electricity will be directly reflected in the product price of the Silico Manganese industry. If the cost of silico manganese is too high, there will be a significant loss of interest in the entire production and sales process, which is not conducive to the benefit of the enterprise. Such factors may hinder the development of the silico manganese market.

Region Overview:

In 2022, the share of the Silico Manganese market in Asia Pacific stood at 82.71%.

Company Overview:

Eurasian Resources Group is one of the major players operating in the Silico Manganese market, holding a share of 4.17% in 2023.

Eurasian Resources Group

Eurasian Resources Group (ERG) is a leading diversified natural resources producer. It has a portfolio of production assets and development projects in 14 countries crossing four continents, and is represented by more than 80,000 people globally, being a major employer in the industry.

PJSC Nikopol

PJSC Nikopol is the world's leading producer of ferromanganese alloys. The plant is currently increasing its output and is still one of the leading, efficient and advanced companies in the ferromanganese alloy industry, focusing on meeting the needs of the modern market.

Segmentation Overview:

Among different product types, Silicomanganese with 10-26% Si segment is anticipated to contribute the largest market share in 2028.

Application Overview:

The market's largest segment by application is the segment Deoxidizers, with a market share of 75.57% in 2022.

Deoxidizers

Silico Manganese is used as a deoxidizer and an alloying element in steel. Both silicon and manganese have an important influence on the properties of steel, depending on the amount added and the combined effect with other alloying elements. Silicon and manganese have a strong affinity for oxygen, and will act as deoxidizers.

Desulfurizers

Silico-manganese is a reducing agent for smelting low-carbon ferromanganese and metallic manganese, and also as a desulfurizing agent in steelmaking production. Silicon-manganese can enable steel to be hot-rolled, forged and other processes without breaking.

Key Companies in the global Silico Manganese market covered in Chapter 3:

Henan Xibao Metallurgy Metarials Group
Tata
PJSC Nikopol
Fengzhen Fengyu Company
Sheng Yan Group
Inner Mongolia Pu Yuan
PJSC Zaporozhye
Erdos Group
Ningxia Dadi Circular Development Corp
Eurasian Resources Group
Guangxi Ferroalloy
Ningxia Jiyuan Metallurgical Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Silico Manganese market from 2018 to 2029 is primarily split into:

Silicomanganese with 10-26% Si
Silicomanganese with 28-30% Si

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Silico Manganese market from 2018 to 2029 covers:

Deoxidizers
Desulfurizers
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)