Albany - New York, Nov. 5, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled " Manganese Carbonate Market for Agrochemicals, Glaze Colorant, Chemical Intermediates, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015-2023." According to the report, the global manganese carbonate market was valued at US$ 322.2 Mn in 2014 and is projected to reach US$ 464.1 Mn by 2023, expanding at a CAGR of 4.2% between 2015 and 2023.
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Manganese carbonate occurs naturally as mineral rhodochrosite. Rhodochrosite commonly occurs as pink, red, grey, yellow, or brown crystals. Manganese carbonate is insoluble in water. It hydrolyzes upon acid treatment to give water soluble salts. China, South Africa, Ghana, Gabon, and Brazil possess significant reserves of manganese carbonate ore in the world. Rising demand for agricultural micronutrients and increasing demand for ceramics and porcelain products is expected to drive the manganese carbonate market in the near future.
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The agricultural industry is projected to be a major end-user of manganese carbonate in Asia Pacific, followed by ceramic & pottery, chemical, food supplement, and medical industries. Demand for manganese carbonate in the region is likely to be primarily driven by rapid rise in demand for agrochemicals in emerging economies. In terms of volume, Europe is anticipated to be the second-largest market for manganese carbonate, followed by North America, Latin America, and Middle East & Africa. The manganese carbonate market in Europe is estimated to witness moderate growth due to slow yet steady recovery of the region from the economic slowdown. Germany and France are primarily estimated to account for demand for manganese carbonate in Europe due to presence of established end-use industries in these countries. Chemical intermediates is anticipated to be the second-fastest growing application segment in Latin America. Manganese carbonate is used to manufacture chemical compounds such as manganese oxide, which can be employed in the mining industry.
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Asia Pacific is anticipated to continue its strong growth during the forecast period due to high demand for manganese carbonate in end-user industries in the region. Currently, China is the largest market for manganese carbonate in Asia Pacific, followed by India, due to high production of agrochemicals. Manganese carbonate is used as an additive in the treatment of manganese-deficient crops. It is also employed as a raw material to manufacture animal feeds. The agrochemical industry in China is expected to expand significantly in the next few years. Local companies and the Government of China are actively making investments in research and development to manufacture new and improved grades of agrochemical products (including fertilizers).
Major players operating in the manganese carbonate market include All-Chemie, Ltd., Airedale Chemical Company Limited, American Elements, Alfa Aesar, Akshar Chemicals, Sunrise Enterprise, Chemalloy, GFS Chemicals, Inc., Mil-Spec Industries Corporation, and Zncus Chemical Co., Ltd.
The Report Segments the Global Manganese Carbonate Market as:
Manganese Carbonate Market - Application Analysis
- Agrochemicals
- Glaze Colorant
- Chemical Intermediates
- Others (Including Food Supplements and Medical)
Manganese Carbonate Market - Regional Analysis
North America
- U.S.
- Rest of North America
Europe
- Spain
- Italy
- Germany
- U.K.
- France
- Rest of Europe
Asia Pacific
- China
- India
- ASEAN
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa
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