Global Vanadium Alloy Market, By Type (Ferrovanadium, Vanadium Titanium, Vanadium Pentoxide, Others)

Published Date: | Report Code : MT1956522

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Vanadium Metal Market 2019 research provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. Vanadium is a silvery-grey metal which is produced in four countries .i.e. Brazil, South Africa, China, and Russia. The metal is obtained by separating it from about 65 minerals such as patronite, roscoelite, carnotite, vanadinite, and mottramite. It can also be obtained from coal and petroleum. Vanadium possesses good structural strength. It is also ductile and harder than most metals, including steel. It is also resistant to corrosion.

Segment Analysis :

On the basis of type, it is segmented into ferrovanadium, vanadium titanium, vanadium pentoxide, and others. Ferrovanadium is majorly used and is further employed in the manufacture of steel. Ferrovanadium strengthens steel so that the latter can be used in a wide range of End Users such as automobiles and pipelines. Another important vanadium alloy is vanadium titanium. This alloy is stronger than commercially pure titanium while having the same thermal properties and stiffness as titanium. Its ability to withstand extreme temperatures makes it an important component in industries such as aerospace. Vanadium oxidizes at around 660°C to become vanadium pentoxide. It does not absorb neutrons easily; hence, it is employed in nuclear power and energy storage batteries. Other vanadium alloys include chromium-based vanadium alloys.

Based on the End User, it is segmented into transport, chemicals, energy, and others. Vanadium alloys are most widely used in the energy industry and are employed in a wide range of environment-friendly power generation and storage technologies, such as nuclear power generation and vanadium redox flow batteries. The rising concerns regarding global warming and climate change have increased over the last few years. Due to which governments are promoting the use of environment-friendly energy technologies. Vanadium redox flow battery is one such technology. Certain countries such as Japan have started adopting vanadium-based energy storage technologies on a large scale

Key Factors Impacting Market Growth:

  • Increasing demand for steel
  • It possesses good structural strength and is corrosion resistant.
  • Rapidly rising construction sector.

Regional Analysis:

The  vanadium alloy market by region has been segmented by North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and the Rest of the World. North America and Western Europe are major regions for  vanadium alloy market owing to diversified demand from end-use industries and competitive scenarios. Some of the major end-use industries in these regions include automobiles and pipelines. These markets have been dynamic in terms of new product developments and related activities. Hence, some of the emerging sub-segments in this market promise high potential in this region. Major countries for  vanadium alloy market in these regions include the US, Germany, France, UK, Canada, Italy, and so on. Recent economic slowdowns, trade implications and environmental concerns are some of the key impact factors influencing the market dynamics in these regions.

Developing regions including Asia Pacific, South America, and Africa have witnessed key developments in terms of organic and inorganic growth strategies. Global companies have made strategic investments in these regions with favorable production conditions and high demand from end-use industries. China, India, Brazil, South Africa, South Korea, Japan, and others have been some of the key economies in the region. Transport, chemicals, energy are some of the major industries in the region with strong potential for vanadium alloy market. Middle East promises a strong market potential with demand from countries including UAE, Saudi Arabia, Qatar, and others that are seeking to diversify the economic outlook. Eastern Europe consisting of Russia and Turkey is also estimated as one of key markets with demand from transport, chemicals, energy.

Companies Covered:  Tremond Metals Corp., Core Metals Group, Bushveld Minerals, Bear Metallurgical Company, and Gulf Chemical and Metallurgical Corporation.

Market Segmentation:

By Type:

  • Ferrovanadium
  • Vanadium Titanium
  • Vanadium Pentoxide
  • Others

By End User :

  • Transport
  • Chemicals
  • Energy
  • Others

 By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By End User
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By End User
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By End User
  • Middle East
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Type
    • By End User
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By End User

Reasons To Buy This Report:

  • Market size estimation of the global vanadium alloy market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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