India: Ferro-Manganese Market 2025

Ferro-Manganese Market Size in India

The Indian ferro-manganese market declined modestly to $X in 2022, with a decrease of -2.3% against the previous year. Overall, consumption, however, recorded resilient growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Ferro-Manganese Production in India

In value terms, ferro-manganese production declined to $X in 2022 estimated in export price. In general, production continues to indicate a strong expansion. The growth pace was the most rapid in 2019 with an increase of 130% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Ferro-Manganese Exports

Exports from India

In 2022, approx. X tons of ferro-manganese were exported from India; remaining relatively unchanged against 2021. Overall, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 463%. As a result, the exports reached the peak of X tons, and then reduced modestly in the following year.

In value terms, ferro-manganese exports reached $X in 2022. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 699% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Italy (X tons), Brazil (X tons) and Canada (X tons) were the main destinations of ferro-manganese exports from India, with a combined 31% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +120.6%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Brazil ($X) were the largest markets for ferro-manganese exported from India worldwide, together comprising 32% of total exports. Canada, Turkey, Egypt, Germany, Japan, the Netherlands, Serbia, Morocco and the UK lagged somewhat behind, together accounting for a further 34%.

Canada, with a CAGR of +122.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ferro-manganese export price amounted to $X per ton, increasing by 1.7% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-manganese export price increased by +81.5% against 2016 indices. The growth pace was the most rapid in 2014 when the average export price increased by 88%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Manganese Imports

Imports into India

In 2022, overseas purchases of ferro-manganese decreased by -12.4% to X tons, falling for the fifth year in a row after two years of growth. Overall, imports, however, recorded a slight expansion. The growth pace was the most rapid in 2014 with an increase of 81%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, ferro-manganese imports surged to $X in 2022. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 115% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of ferro-manganese to India, accounting for a 40% share of total imports. Moreover, ferro-manganese imports from South Korea exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The third position in this ranking was held by South Africa (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+20.1% per year) and South Africa (-13.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of ferro-manganese to India, comprising 55% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by South Africa, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+92.9% per year) and South Africa (-7.0% per year).

Import Prices by Country

In 2022, the average ferro-manganese import price amounted to $X per ton, increasing by 50% against the previous year. Over the period under review, the import price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 59% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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