Global Manganese Alloys Market
Global Manganese Alloys Market was valued US$ 11.45 Bn in 2018 and is expected to reach US$ 17.93 Bn by 2026, at a CAGR of 5.11 % during a forecast period.
Demand for steel is anticipated to rise rapidly because of rise in capacity expansion in the automotive industry. The global automotive industry, which includes passenger cars, trucks, and heavy duty vehicles, is projected to grow at a significant pace during the forecast period. Around 90.9 million units of passenger cars and commercial vehicles were manufactured in 2018. Global sales of cars and commercial vehicles greater than before in the last few years. This, in sequence, drives the demand for manganese alloys.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The production cost of manganese alloys depends on key variables such as cost of power, cost of raw materials, cost of labor, and cost of transport. The production process power intensive as it requires high temperatures and high power, thus, the production cost is high. Thus, the high production cost and market volatility are expected to hinder the manganese alloys market. Several governments have imposed strict mining regulations for the extraction of manganese. It ultimately obstructs the production cost of manganese alloys.
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Last Update : 28 July 2020
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