The high purity manganese sulphate is produced by the method of acquiring primarily leach out of manganese solution. Manganese is the twelfth most plentiful element in the earth’s crust by the bulk commercial production upcoming from key geographies such as South Africa, China, Australia, Brazil, India and Gabon. The geographies like Europe, North America, Japan, Korea and many other countries impartial most 100% of their annual manganese supplies. Manganese is considered to be a critical raw material for many of key industries, and the large portions of the global economy depending on the continued supply. The Manganese is traded globally as ore, slag, ferromanganese, silico-manganese and in several other variety of forms, such as manganese salts, oxides and various purities of refined metal. The high purity manganese sulphateis used as the cathode structure of lithium-ion batteries and with other minerals such as lithium, nickel or cobalt. One the key application associated to use of manganese is in metallurgical sector and for producing metal and steel alloys. Moreover, the high purity manganese sulphate market is considered to be a key end-use in batteries, including both rechargeable lithium-ion batteries and non-rechargeable alkaline cells. The requirement of battery storage now witnessing an increasingly important portion of the global energy solution, and thus manganese demand is rapidly increasing over a period time. The manganese based batteries also have safe storage features with high energy capacities which can be recharged from the renewable energy sources as well.
According to study, “Global High-Purity Manganese Sulphate Market Size study, by Type (Battery Grade, Other Grade), by Application (Batteries, Industrials) and Regional Forecasts 2018-2025” some of the key companies operating in high purity manganese sulphate market globally include Syniverse Technologies LLC, Prince (ERACHEM Comilog), Hunan Huitong Science & Technology, Guangxi Yuanchen Manganese Industry, Haolin Chemical, Guizhou Redstar Developing, Fujian Liancheng Managnese, Guangxi Menghua Technology, Hunan Yueyang Sanxiang Chemical, Xiangtan Electrochemical Scientific, Guangxi Jingxi County Yizhou Manganese Industry
Based on type, high-purity manganese sulphate market is segmented into battery grade and others. In addition, based on application, market is segmented into industrials and batteries. The market is driven by increase in electric vehicle production and grid storage devices, followed by higher demand from end user industries. However, volatile prices of raw material may impact the market. Moreover, growth in demand from diverse developing economies is a key opportunity for market.
Based on geography, the North-American region holds major share in high-purity manganese sulphate market owing to rise in demand of high-purity manganese sulphate and favorable government support in the region. Whereas, the European region is anticipated to grow at higher rate due to increase in demand of fertilizers and growth in adoption of electric vehicles over the forecast period. Furthermore, the Asian-Pacific region is also anticipated to exhibit stable growth rate as a result of rise in production of lead acid batteries over the forecast period. It is estimated that the market will be reached at US $198.98 million by 2025.
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Ankur Gupta, Head Marketing & Communications