123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Vanadium Market Size And Share 2024 Sales, Production, Consumption And Segmentation

Profile Picture
By Author: Market Research Future
Total Articles: 147
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Market Definition:

Vanadium Market was 88.23 kilotons in 2019 and is expected to register a CAGR of 6.8% during the review period. Vanadium compound is significantly used as an alloying element in the iron & steel industry. Its corrosion resistance property makes it ideal for application in the manufacturing of tubes and pipes used to carry chemicals. In addition, mixing titanium with vanadium and iron increases the durability and strength of the material used in the manufacturing of wind turbines. For instance, in November 2019, JSW steel announced to ramp up the steel manufacturing capacity to 44–55 million tonnes per annum by 2030 to cater to the need of end-use industries.

Market Scenario and Growth Factors:

Moreover, the demand for vanadium in the energy sector is growing rapidly. It is considered as a superior substitute for lithium used in the manufacturing of batteries. The vanadium-based batteries are highly durable and hold immense energy storage capacity. For instance, in September 2019, Korea Advanced Institute of Science & Technology developed a new vanadium redox-flow battery (VRFB), ...
... which has high capacity retention and long durability.

Competitive Analysis:

The leading players in the global Vanadium Market include:

Williams & Company (US),
Bushveld Minerals (South Africa),
Atlantic Ltd (Australia),
AMG Advanced Metallurgical Group NV (The Netherlands),
Bear Metallurgical Company (US),
Hickman, Shenzhen Chinary Co., Ltd (China),
VanadiumCorp Resource Inc (Canada),
EVRAZ (UK),
Largo Resources Ltd (Canada),
Glencore (Switzerland),
Treibacher Industrie AG (Austria).
Market Segmentation:

The global vanadium market has been segmented on the basis of type, application, and region. By type, the global vanadium market has been divided into vanadium pentoxide, vanadium ferrovanadium, aluminum-vanadium alloys, vanadium chemicals, and others. The vanadium ferrovanadium segment held significant market share in 2019 and is projected to dominate in the coming years owing to the rise in the application in the iron & steel industry. The global market has been segmented based on application into chemical, energy storage, titanium alloys, and others. The high demand for iron & steel in the construction and automotive industries is expected to boost the growth of the segment in the coming years.

Browse key industry insights spread across 140 pages with 35 market data tables & 19 figures & charts from the report, “Vanadium Market: Information by Type (Vanadium Pentoxide, Vanadium Ferrovanadium, Aluminum-Vanadium Alloys, Vanadium Chemicals and others), Application (Iron & Steel, Chemical, Energy Storage, Titanium Alloys and others) and Region (North America, Europe, Latin America, Asia-Pacific and Middle East & Africa) - Forecast till 2024” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/vanadium-market-8054

Regional Analysis:

The Asia-Pacific market is expected to register a healthy CAGR during the forecast period owing to high public and private sector investments in the construction industry. The economic development and urbanization, particularly in India, Philippines, China, and Indonesia has influenced the spending in infrastructure sectors of power, water, telecommunications, and transportation. The North American market is led by the US construction industry growing at a CAGR of 5% in 2019. The growth is driven by the increase in construction activities such as roads and bridges. In North America, South and West regions are expected to register a CAGRs of 6% and 5%, respectively. Thus, infrastructure development and increasing construction activities are likely to propel the growth of the global vanadium market growth during the review period.

Total Views: 250Word Count: 531See All articles From Author

Add Comment

Business Articles

1. Single Screw Plastic Extruder Demystified For Manufacturers
Author: ADVAN

2. Leed And Its Impact On Today's World
Author: Agile Advisors

3. Enhancing Safety And Sustainability: Tempgenius Blood Bank And Environmental Monitors
Author: Chris Miller

4. Verg Restoration
Author: PAVEL VERGULYANETS

5. Key Players And Competitive Landscape In The Insect Pest Control Sector
Author: MarketsandMarkets

6. Earthing Rod And Its Types
Author: EARTHING ROD AND ITS TYPES

7. Unveiling Excellence: The Journey Of A Pcb Manufacturer And The Innovations In Rigid-flex Pcbs
Author: Shenzhen Shuoqiang Electronics Co.,Ltd.

8. Exploring Multilayer Pcbs, Aluminum Base Pcbs, And Choosing The Right Pcb Supplier
Author: Shenzhen Shuoqiang Electronics Co.,Ltd.

9. Best Wati Alternatives In 2024 To Improve Customer Engagement
Author: Vilas

10. Revolutionizing Retail Spaces With Architectural Cad Design And Drafting Services
Author: Pavantheaecassociates

11. Professionell Diskning I Stockholm: Ta Hjälp Av Erfarna Diskare
Author: hemstandind i sigtuna

12. Canva Acquires Design Platform Affinity To Bring Professional Design Tools To Every Organization
Author: otis

13. Best Static And Dynamic Website In Mumbai
Author: Techstreat Web Solutions

14. Mastering The Road: The Essential Training For Becoming A School Bus Driver With Northstar Bus Lines
Author: Northstarbuslines

15. Exploring The Potential Of Hydrogen Technologies: A Clean Energy Revolution
Author: yogitamnm

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: