Albany, NY -- (SBWire) -- 11/08/2017 --As per TMR's forecast, the global manganese carbonate market, which stood at US$322.2 mn in 2014, is expected to reach US$464.1 mn by the end of 2023. The market will exhibit a CAGR of 4.2% between 2015 and 2023.

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The rising use of manganese carbonate as an essential agriculture micronutrient will considerably fuel their sales. This chemical is often added to plant fertilizers as a treatment for crops with manganese-deficiency. Agricultural sector still holds dominance across several emerging economies in Asia Pacific and Latin America. Hence, these regions are projected to provide lucrative opportunities for manganese carbonate manufacturers, as they exhibit high demand for micronutrient fertilizers.

The global manganese carbonate market currently witnesses the most lucrative prospects in emerging regions such as Asia Pacific, Latin America, and Africa. The high concentration of manganese reserves has catapulted these regions at the fore of the manganese carbonate market. As per Transparency Market Research (TMR), the increasing use of manganese carbonate as a micronutrient in the agricultural sector will considerably fuel its demand. The market is also expected to gain from its rising application in porcelain and ceramics used in the homeware market.

In order to gain a stronger hold in the market, companies such as American Elements, Alfa Aesar, Zncus Chemical Co., Ltd., and GFS Chemicals, Inc. are investing in the research and development of novel grades of manganese carbonate. These companies are working closely with consumers to develop products that cater to their dynamic preferences.

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