배터리용 고순도 황산망간 일수화물(HPMSM) : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the battery-Grade high-Purity manganese sulfate monohydrate (HPMSM) market was valued at USD 0.46 billion in 2025 and is estimated to grow from USD 0.54 billion in 2026 to reach USD 1.15 billion by 2031, at a CAGR of 16.45% during the forecast period (2026-2031).

This report is Segmented by Feedstock Type (Electrolytic Manganese Metal, Manganese Ore, and Recycled Materials and Industrial Residues), Battery Application (NMC, LMFP, and Other Battery Applications), End-Use Industry (Electric Vehicles, Energy Storage Systems, and Other End-Use Industries), and Geography (Asia-Pacific, North America, Europe, and More). The Market Forecasts are Provided in Terms of Value (USD).

Global Battery-Grade High-Purity Manganese Sulfate Monohydrate (HPMSM) Market Trends and Insights

Manganese-Rich Battery Chemistry Adoption

The battery-grade high-purity manganese sulfate monohydrate (HPMSM) market benefits as LMFP, higher-manganese NMC, and LMR chemistries move through commercial development. LMFP cathodes contain 60% to 80% manganese by mass, which raises manganese demand per unit of cathode production. POSCO Future M completed LMR cathode development and achieved pilot production in 2025. The company targeted a mass-production decision by the end of 2025, indicating that higher manganese formulations extend beyond LMFP. Manganese-containing materials appear in more than 70% of lithium-ion cathode technology formats. This broad technical presence means incremental chemistry changes can increase HPMSM use without requiring battery manufacturers to replace every established cell platform.

EV and Energy Storage Battery Manufacturing Expansion

Battery manufacturing plans are bringing HPMSM sourcing and supplier qualification work forward before many new cell plants enter full operation. The battery-grade high-purity manganese sulfate monohydrate (HPMSM) market, therefore, depends on procurement decisions that can precede physical capacity additions by several years. Electric vehicle demand remains an important source of cathode procurement, especially for high-energy applications using NMC materials. Energy storage provides a separate demand path because stationary operators focus on cost, durability, and supply assurance. This combination reduces reliance on vehicle production as the only planning variable for prospective HPMSM producers. Projects that can serve mobility and grid storage customers may gain more diversified offtake relationships than suppliers focused on a single use case.

China-Centric Processing and Low-Cost Supply

China accounted for 95% of global HPMSM production in 2024, while Belgium and Japan supplied the remaining production. Its processing clusters combine manganese inputs, sulfuric acid availability, and hydropower in Guizhou, Guangxi, and Hunan. This integrated position creates a cost benchmark that many greenfield projects outside China cannot readily match. The battery-grade high-purity manganese sulfate monohydrate (HPMSM) market outside China consequently relies on policy support, procurement preferences, and sustainability requirements to support investment. China also has established capacity that can respond to changes in downstream demand. That capacity can limit the price signals needed for new non-Chinese facilities during periods of slower cathode production.

Other drivers and restraints analyzed in the detailed report include:

1. Strategic Localization of Critical Mineral Refining
2. Cost and Safety Advantages Versus Nickel and Cobalt Intensive Cathodes
3. High Qualification and Impurity-Control Requirements

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Electrolytic manganese metal captured 58.54% of feedstock demand in 2025, giving it the largest position in the battery-grade high-purity manganese sulfate monohydrate (HPMSM) market share. The electrolytic manganese metal route is established because it supports controlled crystallization and consistent purity for battery applications. Producing 1 metric ton of HPMSM requires close to one-third of a metric ton of electrolytic manganese metal, together with sulfuric acid and energy. The route is therefore sensitive to metal, acid, and power costs. Manganese ore is used mainly by integrated producers that can manage more complex impurity removal. Metal-to-crystal conversions use existing facilities and can lower the development burden for selected brownfield projects. Feedstock choice remains central to process reliability, cost control, and approval performance in the battery-grade high-purity manganese sulfate monohydrate (HPMSM) market.

Recycled materials and industrial residues are forecast to grow at an 18.85% CAGR from 2026 to 2031. The EU Battery Regulation requires 8% recycled manganese in new batteries by 2031. That requirement creates a separate procurement opportunity for traceable secondary material. Tracegrow launched REDO-M in November 2025 using EU-sourced recycled alkaline batteries and industrial by-products. The University of Oulu confirmed the product's purity, according to the company announcement. The STREAMS project also demonstrated manganese sulfate recovery from mining by-products at Eti BakIr's MazIdagI facility. Secondary feedstocks can help cathode producers address domestic-content and recycled-content requirements. Their role depends on reliable collection systems, impurity control, and production at an adequate commercial scale. These routes may receive purchasing preference where buyers value documented origin and circular-material content.

Complete Report Scope:

• By Feedstock Type
  • Electrolytic Manganese Metal
  • Manganese Ore
  • Recycled Materials and Industrial Residues
• By Battery Application
  • NMC (Nickel Manganese Cobalt)
  • LMFP (Lithium Manganese Iron Phosphate)
  • Other Battery Applications (LMO, LMNO, Sodium-Ion)
• By End-Use Industry
  • Electric Vehicles
  • Energy Storage Systems
  • Other End-Use Industries (Consumer Electronics, Specialty Cells)
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific held 52.28% of the global HPMSM market in 2025. China's processing clusters in Guizhou, Guangxi, and Hunan underpin the region's leading position. China supplied 95% of global HPMSM output in 2024. South Korea's manganese sulfate imports for battery applications rose more than 50-fold in the first 9 months of 2025. China supplied 92% of those imports by weight in 2024, compared with 32% in 2022. Korea considers this dependence an economic security concern and operates a KRW 10 trillion annual supply-chain stabilization fund. Japan retains commercial production through Nippon Denko, one of the few non-Chinese producers. India represents a future demand source as domestic cell capacity develops under Production-Linked Incentive support.

Europe is forecast to grow at a 19.31% CAGR from 2026 to 2031, the highest regional rate in the battery-grade high-purity manganese sulfate monohydrate (HPMSM) market. The region is seeking new supply to support planned cell manufacturing capacity and reduce reliance on a single source. The European Court of Auditors stated in February 2026 that the Critical Raw Materials Act was unlikely to deliver the targeted supply security. That gap may sustain procurement demand for compliant material through the forecast period. Euro Manganese's Chvaletice project in the Czech Republic targets 150,000 tpa of HPMSM capacity. The project published a preliminary economic assessment in May 2026 and targets a feasibility study in H1 2027. Tracegrow's recycled REDO-M product provides another route for regional cathode supply. Europe's opportunity rests on project execution, responsible sourcing, and reliable qualification by cell producers.

North America is building an early manufacturing base from a position with no domestic HPMSM production. Element 25's Louisiana project targets 65,000 tpa and has support from General Motors, Stellantis, and the U.S. Department of Energy. South32's Hermosa project in Arizona targets 60,000 tpa in an integrated mine-to-HPMSM configuration. In Africa, Manganese Metal Company commissioned a 6,000 tpa year battery-grade crystallization plant in Mbombela in 2026. Giyani's K.Hill project in Botswana is designed to send 70% of HPMSM output to North America and 30% to Europe. The project targets first production in 2029. These projects position Africa as a potential supplier to Western battery value chains, subject to financing, commissioning, and customer qualification.

1. Changsha Lantian Chemicals Co., Ltd.
2. Changsha Rongqing Chemical Co., Ltd.
3. China Minmetals Corporation
4. Element 25
5. Euro Manganese Inc.
6. Giyani Metals Corp.
7. Guangxi Detian Chemical Cycle Co., Ltd.
8. Guizhou Dalong Huicheng New Material Co., Ltd.
9. Guizhou Manganese Mineral Group Co., Ltd.
10. Guizhou Redstar Co., Ltd
11. Guizhou Union Manganese Corporation Co., Ltd.
12. ISKY Chemicals Co., Ltd.
13. Manganese X Energy Corp.
14. South Manganese Investment Limited
15. Vibrantz
16. Xiangtan Electrochemical Scientific Co., Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Manganese-Rich Battery Chemistry Adoption
  • 4.2.2 EV and Energy-Storage Battery Manufacturing Expansion
  • 4.2.3 Strategic Localization of Critical-Mineral Refining
  • 4.2.4 Cost and Safety Advantages Versus Nickel- and Cobalt-Intensive Cathodes
  • 4.2.5 Qualification Demand for Traceable, Low-Carbon HPMSM
  • 4.2.6 Metal-to-Crystal Brownfield Conversion
• 4.3 Market Restraints
  • 4.3.1 China-Centric Processing and Low-Cost Supply
  • 4.3.2 High Qualification and Impurity-Control Requirements
  • 4.3.3 Ex-China Project Financing and Scale-Up Risk
  • 4.3.4 Chemistry Mix Volatility and Qualification Delays
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces Analysis
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Competitive Rivalry

5 Market Size and Growth Forecasts (Value)

• 5.1 By Feedstock Type
  • 5.1.1 Electrolytic Manganese Metal
  • 5.1.2 Manganese Ore
  • 5.1.3 Recycled Materials and Industrial Residues
• 5.2 By Battery Application
  • 5.2.1 NMC (Nickel Manganese Cobalt)
  • 5.2.2 LMFP (Lithium Manganese Iron Phosphate)
  • 5.2.3 Other Battery Applications (LMO, LMNO, Sodium-Ion)
• 5.3 By End-Use Industry
  • 5.3.1 Electric Vehicles
  • 5.3.2 Energy Storage Systems
  • 5.3.3 Other End-Use Industries (Consumer Electronics, Specialty Cells)
• 5.4 By Geography
  • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Rest of Asia-Pacific
  • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
  • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Rest of Europe
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
  • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 Changsha Lantian Chemicals Co., Ltd.
  • 6.4.2 Changsha Rongqing Chemical Co., Ltd.
  • 6.4.3 China Minmetals Corporation
  • 6.4.4 Element 25
  • 6.4.5 Euro Manganese Inc.
  • 6.4.6 Giyani Metals Corp.
  • 6.4.7 Guangxi Detian Chemical Cycle Co., Ltd.
  • 6.4.8 Guizhou Dalong Huicheng New Material Co., Ltd.
  • 6.4.9 Guizhou Manganese Mineral Group Co., Ltd.
  • 6.4.10 Guizhou Redstar Co., Ltd
  • 6.4.11 Guizhou Union Manganese Corporation Co., Ltd.
  • 6.4.12 ISKY Chemicals Co., Ltd.
  • 6.4.13 Manganese X Energy Corp.
  • 6.4.14 South Manganese Investment Limited
  • 6.4.15 Vibrantz
  • 6.4.16 Xiangtan Electrochemical Scientific Co., Ltd.

7 Market Opportunities and Future Outlook

• 7.1 White-Space and Unmet-Need Assessment