Growing demand for manganese sulfate as fertilizer is one of the significant factors influencing the market growth.
Manganese Sulfate Market Size – USD 235.2 Million in 2018, Growth - CAGR of 7.8%, Trends – Surging demand for manganese sulfate in batteries
The global Manganese Sulfate Market is expected to reach USD 466.3 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing demand for manganese sulfate in end-use applications.
Manganese is a vital mineral necessary for plant nutrition and performs a significant role in various physiological processes, especially photosynthesis. Manganese deficiency is a major problem, often arising in organic soils and sandy soils, with a pH level of more than 6 and tropical soils. Wet and cold conditions usually worsen the issue. The influence of manganese deficiency on crops comprises reduced yield, weaker resistance against pathogens, and a decreased tolerance to heat and drought stress. Furthermore, GMO strains of cash crops often suffer from a manganese deficiency, owing to the drag effect caused by the herbicide on them by depriving them of manganese. Thus, manganese sulfate as a fertilizer is essential for the health of crops. Manganese sulfate also has the benefit of providing sulfur as sulfates that immediately available for plant uptake.
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Top Leasing Players in Market: Aldon Corporation, Hydrite Chemical, ERAMET, Jost Chemical, Boston Bioproducts, Micromix, Lantian Chemical Industry, CITIC Dameng, NOAH Technologies Corporation, and Sam HPRP Chemicals, among others.
Further key findings from the report suggest:
- By grade, industrial grade manganese sulfate contributed to a substantial market share in 2018.
- By distribution channel, online distribution channel is anticipated to witness the fastest growth rate of 10.4% in the forecast period.
- By application, agriculture contributed to the largest market share in 2018 and is expected to grow at a rate of 8.0% in the forecast period. The key application of manganese sulfate in agriculture is as fertilizer, fungicides, and feed additives, among others.
- The market in the Asia Pacific region dominated the market in 2018 and is projected to grow at a rate of 8.5% in the forecast period, owing to a swiftly increasing population resulting in higher demand for a greater quantity of food products from developing countries, including India and China. The increasing consumption of fertilizer in the region to achieve higher crop yield is driving the growth of the market.
Upcoming trends in Manganese Sulfate Market:
Manganese sulfate is an important chemical compound used in various applications, including agriculture, animal feed, and the production of batteries and other chemicals. Here are some upcoming trends in the manganese sulfate market:
- Growing demand in the agriculture industry: Manganese sulfate is used as a fertilizer to improve the growth and yield of crops. With the growing demand for food and the need to increase agricultural productivity, the demand for manganese sulfate in the agriculture industry is expected to grow.
- Increasing demand in the animal feed industry: Manganese sulfate is an essential trace element in animal nutrition and is used as a feed supplement. The demand for manganese sulfate in the animal feed industry is expected to increase due to the growing demand for meat and dairy products.
- Growing demand for batteries: Manganese sulfate is a key raw material in the production of lithium-ion batteries. With the increasing demand for electric vehicles and energy storage systems, the demand for manganese sulfate in the battery industry is expected to grow.
- Advancements in production technology: Advances in production technology, such as the use of bio-based raw materials and energy-efficient processes, are expected to drive the growth of the manganese sulfate market. These advancements are expected to reduce production costs and improve the sustainability of the industry.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Manganese Sulfate market is segmented into:
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Agriculture Grade
- Industrial Grade
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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