Manganese Ore

Manganese demand is stable due to its role in steel production. The increasing use of manganese in batteries, particularly for electric vehicles (lithium-ion batteries), is boosting its demand. Additionally, the demand for highgrade steel in infrastructure projects globally supports the manganese ore market.

Global Demand

The global manganese market size was estimated at $24.17 billion in 2022 and is expected to reach $36.56 billion by 2030, growing at a CAGR of 5.4% during 2023-2030. Manganese is critical in steel production, and with global crude steel production growing, especially in China and India, the demand for manganese ore remains high. Around 90% of the world's manganese production is consumed by the steel industry. In addition, manganese’s increasing use in lithiumion batteries (for electric vehicles) is driving new demand streams.

National Demand

India produced around 2.6 million metric tons of manganese ore in 2022, making it one of the leading producers. With the Indian government pushing for electric vehicle adoption under its FAME II policy, the demand for manganese, especially in battery technology, is expected to surge.

Reserves in India

India is one of the largest producers of manganese ore, with major reserves located in Odisha, Karnataka, and Madhya Pradesh. India's reserves are estimated at around 300 million tons, making it a key player in the global market.