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Ultra-High Purity Manganese Sulfate Market By Types (Battery Grade, Other Grade) By Application (Battery Cathode Materials, Food, Nutrients and Pharmacy, Others (Scientific Research) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The global ultra-high purity manganese sulphate market report explores the critical analysis of theultra-high purity manganese sulfateindustry using key parameters. The report consists of investment strategies, the need for investments in the ultra-high purity manganese sulphate industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the ultra-high purity manganese sulphate industry and how economic and non-economic barriers are helping the industry grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis.Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

ultra-high-purity-manganese-sulfate-market

Key Highlights of the report

How are the major segments performing in the ultra-high purity manganese sulphate market?

In 2021, the battery grade segment accounted for the largest share of the market as it is widely utilized in manufacturing batteries.

In 2021, the tire segment was anticipated to hold a prominent share in the global ultra-high purity manganese sulfate due to the increasing demand for electric vehicles.

Which region dominated the ultra-high purity manganese sulfate market?

In 2021, the Asia Pacific region was anticipated to hold a prominent share in the global ultra-high purity manganese sulfate market during the forecast period owing to China, Japan, and South Korea, which represent the majority of the global production capacity for EV batteries. Further, European electric cars mostly utilize batteries produced in Japan and South Korea due to the similarity of their electric grid to the European average. Besides, most of the EV batteries produced in China are used by the domestic market in China.

What is the competitive environment of the ultra-high purity manganese sulphate market?

The ultra-high purity manganese sulfate industry's competitive environment offers information on the total economic profit made by suppliers and businesses, the sales and revenues produced in this sector, the ultra-high purity manganese sulfate market share globally, the business organization overview, the launch of new products, and the opportunities for the industrial ultra-high purity manganese sulfate market. For instance, in July 2022, Proposal launched a Chinese domestic battery-grade manganese sulfate price. Battery-grade manganese sulfate is the manganese chemical used in lithium-ion batteries, particularly those using nickel-manganese-cobalt (NMC) cathode. The NMC cathode is significant in the electric vehicle (EV) market. Furthermore, in May 2022, Manganese X Energy Announced Positive PEA for its Battery Hill Project After-Tax NPV of 10% of $486M US and IRR of 25%. Manganese X Energy Corp. announced positive results from the independent Preliminary Economic Assessment for its wholly owned Battery Hill project near Woodstock, New Brunswick. 

Executive Summary

How was invention related to battery grade high-purity manganese sulfate monohydrate market?

The invention relates to battery-grade high-purity manganese sulfate monohydrate and a preparation method. The manganese range is more than 32% in the cell-grade high purity manganese sulfate monohydrate supplied by the invention, the range of sodium, potassium, calcium, and magnesium addition is all below 50ppm, the range of heavy metal impurity is below 10ppm, and the range of iron contamination is below 5ppm, and the content of fluorine pollutant is below 100ppm. 

Which are the key investments by players in the ultra-high purity manganese sulphate industry market?

These players are immersed in platform expansion and strategic collaborations to extend their portfolios and acquire a robust footing in the global ultra-high purity manganese sulphate market. In December 2019, Jost Chemical opened a new manufacturing facility in Poland. The 4,600-square-meter building is strategically located in Kościan, Poland. The opening marks the first step in the company’s global expansion strategy. The new plant supplements the existing production facility in St. Louis and will help contribute to Jost’s responsiveness to its growing global market. The factory's opening will deliver more than 40 jobs over the next five years, with plans for expansions.

Some of the major players in the ultra-high purity manganese sulphate market are Guizhou Dalong Huicheng New Material, CITIC Dameng Mining Industries, GuizhouRedstar Developing, ISKY Chemicals, Prince (ERACHEM Comilog), Lantian Chemical, Guizhou Manganese Mineral Group, Jost Chemical, American Elements, Merck (Sigma-Aldrich), Thermo Fisher Scientific, and Xiangtan Electrochemical Scientific.           

What are the Major Driving Factors for the Ultra-High Purity Manganese Sulfate Market?

The increased demand for electric vehicles in recent years is anticipated to propel market growth. At present, the primary source of power for electric vehicles is lithium-ion batteries. According to a study issued by the U.S. International Trade Commission in 2018, Li-ion batteries are anticipated for more than 70 percent of the rechargeable battery market. In addition, the battery costs per kilowatt-hour (kWh) have declined to less than 200 USD in 2019 from around 1000 USD in 2010. Furthermore, due to the improvement in cell chemistry and battery pack manufacturing techniques, battery prices are predicted to drop below 100 USD/kWh in the coming years. Therefore, a reduction in battery packs accountable for around 35% to 45% of electric vehicle manufacturing costs is expected to propel the ultra-high purity manganese sulfate market growth during the forecast period.

What are the Major Risks forthe Ultra-High Purity Manganese Sulfate Market?

Insufficient material supply and the absence of charging infrastructure limited the adoption of electric vehicles, which indirectly hampers the global ultra-high purity manganese sulfate market during the forecast period. The scarcity of charging infrastructure is also a hindrance to the widespread adoption of electric vehicles, predominantly in emerging countries such as India. In addition, the installation cost is high, and the cost-efficiency for consumers to charge their vehicles is also not at the required level. Therefore, the lack of charging stations and supply chain risks are expected to restrain the market growth.

Which is the key application in the ultra-high purity manganese sulfate market?

During the forecast period, the battery grade segment is anticipated to maintain a prominent market share in the global ultra-high purity manganese sulfate. Governments worldwide are promoting the adoption of vehicles utilizing alternative fuels due to the rising concerns regarding the environmental impact of conventional automobiles. EVS are zero-emission cars that are becoming increasingly popular for eco-friendly public transportation worldwide. Various national governments deliver financial incentives such as tax exemptions and rebates, subsidies, reduced parking/toll rates for EVs, and free charging to promote the usage of EVs. As a result, the market for EV batteries is increasing quickly across the board, increasing the battery grade market. 

How is the ultra-high purity manganese sulfatemarket performing in regions?

In the ultra-high purity manganese sulfate market, the Asia Pacific region is anticipated to dominate during the forecast period due to augmented EV demand. The existence of top manufacturers in the region has facilitated the huge production of electric vehicles and ultra-high purity manganese sulfate batteries. The countries like China and India offer cheap labor and other factors of production, and the pro-industrial government policies attract huge investments from the top MNCs. The giant consumer base in the region, growing demand for electric passenger and commercial vehicles, rising investments in the development of charging infrastructure, and growing government initiatives to promote the adoption of electric vehicles are the major drivers of the Asia Pacific EV battery market.

The North American region is the highest consumer of batteries, and the integration of renewables with energy storage systems is offering a market growth opportunity for the ultra-high purity manganese sulfate market. Moreover, the U.S.-based OEMs are concentrating on eliminating the supply chain risks and the concerns regarding battery sourcing from a single region such as China. 

What is the regulatory landscape for the ultra-high purity manganese sulphate market?

Transposable elements (TEs) are no longer considered "junk" DNA. Tes encode various regulatory elements that enable them to regulate gene expression. RJ Britten and EH Davidson hypothesized that TEs could integrate the function of various transcriptional regulators into gene regulatory networks. Uniquely TEs can deposit regulatory sites across the genome when they transpose, thereby bringing multiple genes under the control of the same regulatory logic. Several studies have robustly established that TEs participate in embryonic development and oncogenesis. 

What is the Market Size of Ultra-High Purity Manganese Sulfate regarding value?

The global ultra-high purity manganese sulfatemarket is anticipated to grow at a substantial CAGR of 24.10% in the upcoming years. The global Ultra-High Purity Manganese Sulfateindustry was estimated to be worth USD 261.4 million in 2021 and was expected to be worth USD 954.85 million by 2028.

What are the major players planning for the future of the ultra-high purity manganese sulphate market?

Growing regional existence and investment in downstream applications are anticipated to deliver a competitive edge in the market. Presentation of high-value outcomes, such as solvents and ultra-high purity manganese sulphate utilized in applications other than battery manufacturing.

Segmentation of Global Ultra-High Purity Manganese Sulfate Market-

Global Ultra-High Purity Manganese Sulfate Market – By Types

  • Battery Grade
  • Other Grade

Global Ultra-High Purity Manganese Sulfate Market – By Application

  • Battery Cathode Materials
  • Food, Nutrients and Pharmacy
  • Others (Scientific Research)

Global Ultra-High Purity Manganese Sulfate Market – By Region

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global Ultra-High Purity Manganese Sulfate market.

COVID-19 has had a significant impact on the market during the first wave, with countries across the globe implementing total lockdowns and restricting the movement of people and goods.

the Asia Pacific accounted for the most heightened share in the global ultra-high purity manganese sulfate market.

Increase in demand for electric vehicle increases the usage of ultra-high purity manganese sulfate.

The battery gradesegment had a major share in the global ultra-high purity manganese sulfate market in 2021.

The Battery Cathode Materials segment had a major share in the global market in 2021and is anticipated to continue during the forecast period.

Ultra-High Purity Manganese Sulfate Market Scope

Report Attribute Details
Market Value in 2021 USD 261.4 million
Market Value in 2028 USD 954.85 million
CAGR 24.10%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Oct 2022
Category:  Chemicals
Report ID:   60694
Report Format:   PDF
Pages:   130
Rating:    4.6 (40)
Delivery Time: 24 Hours to 48 Hours   
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