The manganese market size was valued at USD 24.37 billion in 2023. The manganese industry is projected to grow from USD 25.59 billion in 2024 to USD 37.87 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.02% during the forecast period (2024 – 2032).​Growing demand for steel products in the construction & infrastructure industry and using it in batteries are the key market drivers enhancing market growth. The industry is expected to witness significant growth over the forecast period, owing to a surge in demand for lithium-ion batteries. Moreover, increasing investments in infrastructure development projects, automobile production, and rapid urbanization in emerging economies drive market growth. The other supplementing factors of the market are the recovery in prices of both ore and ferroalloy and the emergence of new application markets. Further, rising investments in residential and non-residential construction projects are anticipated to increase steel demand in the US, which is therefore anticipated to impact the market across the forecast period positively. The rising demand for the product from automobiles has enhanced the manganese market CAGR in recent years. Addition to that, the market is projected to be driven by a steady production of stainless steel over the forecast period, the major factor driving the growth of the manganese market revenue.