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Ferromanganese Market Size, Share and Forecast 2026-2036

The global ferromanganese market is worth USD 8.5 bn in 2026 and is forecast to reach USD 11.6 bn by 2036, growing at a 3.2% CAGR. China is the largest country market and High-carbon ferromanganese is the largest by grade segment.

USD 8.5 bnMarket size 2026
USD 11.6 bnForecast 2036
3.2%CAGR 2026-2036
ChinaLargest country

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5 segmentation views25 countries2026 to 2036 yearly forecast

Market overview

The global ferromanganese market is worth USD 8.5 bn in 2026 and is forecast to reach USD 11.6 bn by 2036, growing at a 3.2% CAGR. China is the largest country market and High-carbon ferromanganese is the largest by grade segment.

ScopeFerromanganese alloys (high-carbon, medium-carbon and low-carbon) used mainly as a deoxidiser and alloying addition in steelmaking.
IndustryChemicals and Materials
Value 2025USD 8.2 bn
Value 2026USD 8.5 bn
Value 2036USD 11.6 bn
CAGR 2026-20363.2%
Volume 20266,353 thousand tonnes
Volume 20367,881 thousand tonnes
Average price 2026USD 1,336 per tonne
Report priceStarts from USD 1,999
PublishedNovember 2026

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Ferromanganese market size and forecast, 2026-2036

Exhibit 1The global ferromanganese market is forecast to grow from USD 8.5 bn in 2026 to USD 11.6 bn by 2036, a rise of 37%Global market value in USD: 2025 base year, 2026 estimate and forecast to 2036. CAGR 2026 to 2036: 3.2%
Ferromanganese market value, 2025 to 2036Market value by year. 2025: USD 8.2 bn; 2026: USD 8.5 bn; 2027: USD 8.8 bn; 2028: USD 9.0 bn; 2029: USD 9.3 bn; 2030: USD 9.6 bn; 2031: USD 9.9 bn; 2032: USD 10.3 bn; 2033: USD 10.6 bn; 2034: USD 10.9 bn; 2035: USD 11.3 bn; 2036: USD 11.6 bn. Compound annual growth rate 2026 to 2036: 3.2%.20258.5 bn20269.9 bn203111.6 bn20363.2% CAGR

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

YearMarket value
2026USD 8.5 bn
2027USD 8.8 bn
2028USD 9.0 bn
2029USD 9.3 bn
2030USD 9.6 bn
2031USD 9.9 bn
2032USD 10.3 bn
2033USD 10.6 bn
2034USD 10.9 bn
2035USD 11.3 bn
2036USD 11.6 bn

Ferromanganese market segmentation

By grade

Exhibit 2High-carbon ferromanganese is the largest segment by grade, with 78.0% of 2026 revenueEstimated share of 2026 global revenue, by grade
Ferromanganese market share by grade, 2026Share of 2026 revenue by grade. High-carbon ferromanganese: 78.0%; Medium-carbon ferromanganese: 14.0%; Low-carbon ferromanganese: 8.0%.High-carbon ferromanganese78.0%Medium-carbon ferromanganese14.0%Low-carbon ferromanganese8.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
High-carbon ferromanganese78.0%76.2%USD 6.6 bn3.0%
Medium-carbon ferromanganese14.0%14.8%USD 1.2 bn3.8%
Low-carbon ferromanganese8.0%9.0%USD 679 mn4.5%

By end use

Exhibit 3Carbon steel adds the most revenue by end use, growing from USD 6.1 bn in 2026 to USD 8.3 bn by 2036Estimated revenue in USD by end use, 2026 and 2036 forecast
Ferromanganese market by end use, 2026 and 2036Revenue by end use in 2026 and 2036. Carbon steel: USD 6.1 bn in 2026, USD 8.3 bn in 2036, change +35%; Alloy steel: USD 1.2 bn in 2026, USD 1.7 bn in 2036, change +46%; Stainless steel: USD 679 mn in 2026, USD 965 mn in 2036, change +42%; Cast iron and others: USD 509 mn in 2026, USD 656 mn in 2036, change +29%.20262036 forecastChangeCarbon steel+35%6.1 bn8.3 bnAlloy steel+46%1.2 bn1.7 bnStainless steel+42%679 mn965 mnCast iron and others+29%509 mn656 mn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Carbon steel72.0%71.1%USD 6.1 bn3.1%
Alloy steel14.0%14.9%USD 1.2 bn3.9%
Stainless steel8.0%8.3%USD 679 mn3.6%
Cast iron and others6.0%5.6%USD 509 mn2.6%

By production process

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Submerged arc furnace68.0%70.0%USD 5.8 bn3.5%
Blast furnace20.0%16.0%USD 1.7 bn0.9%
Slag recovery and briquette12.0%14.0%USD 1.0 bn4.8%

By product form

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Lump58.0%54.0%USD 4.9 bn2.5%
Granules18.0%18.0%USD 1.5 bn3.2%
Powder12.0%13.0%USD 1.0 bn4.0%
Briquettes12.0%15.0%USD 1.0 bn5.5%

By ore origin

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
South African ore34.0%32.0%USD 2.9 bn2.6%
Australian ore20.0%18.0%USD 1.7 bn2.1%
Gabonese ore18.0%20.0%USD 1.5 bn4.3%
Chinese domestic ore14.0%13.0%USD 1.2 bn2.4%
Ghana, India and other ore14.0%17.0%USD 1.2 bn5.2%

Top 25 countries for ferromanganese by revenue

Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 83.5% of 2026 revenue and the 25 countries below together hold 96.3%.

Exhibit 4China is the largest country market at USD 3.2 bn in 2026, and the three largest countries hold 57.0% of global revenueEstimated 2026 revenue in USD and share of the global market, ten largest countries
Ferromanganese market, ten largest countries in 2026Ten largest countries by 2026 revenue. China: USD 3.2 bn, 38.0%; India: USD 1.2 bn, 14.0%; Russia: USD 424 mn, 5.0%; Japan: USD 424 mn, 5.0%; South Korea: USD 382 mn, 4.5%; Turkey: USD 339 mn, 4.0%; United States: USD 339 mn, 4.0%; Vietnam: USD 297 mn, 3.5%; Ukraine: USD 255 mn, 3.0%; Germany: USD 212 mn, 2.5%.China3.2 bn 38.0%India1.2 bn 14.0%Russia424 mn 5.0%Japan424 mn 5.0%South Korea382 mn 4.5%Turkey339 mn 4.0%United States339 mn 4.0%Vietnam297 mn 3.5%Ukraine255 mn 3.0%Germany212 mn 2.5%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

#CountryValue 2026Share 2026Value 2036CAGR 2026-36
1ChinaUSD 3.2 bn38.0%USD 4.3 bn3.0%
2IndiaUSD 1.2 bn14.0%USD 1.9 bn5.0%
3RussiaUSD 424 mn5.0%USD 523 mn2.1%
4JapanUSD 424 mn5.0%USD 488 mn1.4%
5South KoreaUSD 382 mn4.5%USD 465 mn2.0%
6TurkeyUSD 339 mn4.0%USD 477 mn3.5%
7United StatesUSD 339 mn4.0%USD 430 mn2.4%
8VietnamUSD 297 mn3.5%USD 488 mn5.1%
9UkraineUSD 255 mn3.0%USD 314 mn2.1%
10GermanyUSD 212 mn2.5%USD 244 mn1.4%
11EgyptUSD 165 mn1.9%USD 244 mn4.0%
12IranUSD 118 mn1.4%USD 152 mn2.6%
13MexicoUSD 97 mn1.1%USD 138 mn3.6%
14CanadaUSD 85 mn1.0%USD 104 mn2.0%
15PolandUSD 76 mn0.9%USD 104 mn3.1%
16SpainUSD 70 mn0.8%USD 85 mn2.0%
17Czech RepublicUSD 64 mn0.8%USD 81 mn2.4%
18ThailandUSD 60 mn0.7%USD 83 mn3.2%
19IndonesiaUSD 58 mn0.7%USD 85 mn3.9%
20South AfricaUSD 54 mn0.6%USD 71 mn2.7%
21Saudi ArabiaUSD 52 mn0.6%USD 76 mn3.9%
22ArgentinaUSD 50 mn0.6%USD 67 mn3.0%
23SlovakiaUSD 48 mn0.6%USD 62 mn2.5%
24RomaniaUSD 47 mn0.6%USD 62 mn2.8%
25KazakhstanUSD 45 mn0.5%USD 63 mn3.4%
Rest of worldUSD 311 mn3.7%USD 443 mn3.6%
Exhibit 5China and India account for 59% of the USD 3.1 bn the market is forecast to add by 2036Forecast revenue added between 2026 and 2036 by country, in USD
Ferromanganese market, where the growth to 2036 comes fromRevenue added between 2026 and 2036. Market value 2026: USD 8.5 bn. China: +USD 1.1 bn; India: +USD 754 mn; Vietnam: +USD 191 mn; Turkey: +USD 137 mn; Russia: +USD 99 mn; 20 other countries: +USD 716 mn; Rest of world: +USD 132 mn. Market value 2036: USD 11.6 bn.Market value 20268.5 bnChina+1.1 bnIndia+754 mnVietnam+191 mnTurkey+137 mnRussia+99 mn20 other countries+716 mnRest of world+132 mnMarket value 203611.6 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

Competitive landscape

Group 1: Global leaders

  • Eramet
  • South32
  • Assmang
  • Ferroglobe
  • Glencore
  • Elkem
  • Eurasian Resources Group

Group 2: Regional and specialist players

  • OM Holdings
  • Nippon Denko
  • Vale
  • Tata Steel
  • Georgian American Alloys
  • Nikopol Ferroalloy Plant
  • Pertama Ferroalloys
  • Sakura Ferroalloys
  • Sarda Metals & Alloys

Group 3: Emerging and niche players

  • Maithan Alloys
  • Indian Metals & Ferro Alloys
  • FACOR
  • Balasore Alloys
  • Jayaswal Neco

Research methodology

Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the ferromanganese market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.

The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 3.2% is calculated from the resulting values.

The market is divided by grade, by end use, by production process, by product form, by ore origin. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.

Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.

Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.

Read the full research methodology

Frequently asked questions

How big is the ferromanganese market?

The global ferromanganese market is estimated at USD 8.2 bn in 2025 and USD 8.5 bn in 2026.

How fast will the ferromanganese market grow?

It is forecast to reach USD 11.6 bn by 2036, a compound annual growth rate of 3.2% from 2026, an increase of USD 3.1 bn.

Which country is the largest market for ferromanganese?

China is the largest market by revenue at USD 3.2 bn in 2026, 38.0% of the global total. The three largest countries together hold 57.0%.

Which country is growing fastest?

Among the ten largest markets, Vietnam is growing fastest at 5.1% a year from 2026 to 2036.

Which ferromanganese segment is largest?

In the by grade split, High-carbon ferromanganese is the largest segment with 78.0% of 2026 revenue.

Who are the leading ferromanganese companies?

Global leaders include Eramet, South32, Assmang, Ferroglobe.

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