The global vanadium market size is projected to exceed 100 kilo tons by the end of 2025. Increasing intensity of vanadium in steels, ferrous alloys, and non-ferrous alloys is expected to amplify its consumption in core end-user industries such as automotive, aerospace, and building & construction. Asia Pacific dominated the global Vanadium industry in 2015 and is expected to maintain its leading position over the forecast period —
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Pangang Group Vanadium Titanium & Resources Co., Ltd., Beijing Jianlong Heavy Industry Group Co., Ltd, and HBIS Group are a few of the vanadium producers in the China vanadium market. EVRAZ Group, Bushveld Minerals Limited, Australian Vanadium Limited, Vanadium Corporation, Glencore, Largo Resources, Atlantic Pty Ltd., Energy Fuels Inc., are some of the
players operating within the global vanadium industry.
Its consumption as a catalyst in the manufacturing of bulk and industrial chemicals and polymers is small yet a growth impacting application, which is likely to boost the global vanadium market value at a CAGR of 5% by 2025. Energy storage is considered to fuel the vanadium market value at a fast pace, as a consequence of rising utilization vanadium as a battery metal in flow battery technologies.
The global vanadium industry report is a comprehensive study covering various market aspects including end-uses / applications, regional demand, production overview, and key country outlook. In addition to this, analytical tools such as PESTEL and industry value chain has been covered in the study that throws light on the key influential factors that drive and/or challenge the global vanadium market dynamics.
The recent drastic expansion of steel rebar and battery energy storage sectors have increased the China vanadium prices in 2018. Demand exceeding production has been another important vanadium price escalator in the country. China is considered to be one of the potential growth areas for vanadium over the years ahead. Increase in foreign investments coupled with the presence of local vanadium providers is expected to maintain the market competitiveness in the country.
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Key Segments of the Global Vanadium Market Report
Application Overview, 2014 - 2025 (Tons) (USD Million)
• Iron & steel
• Energy storage
• Titanium alloys
Regional Overview, 2014 - 2025 (Tons) (USD Million)
• North America
• Rest of North America
• Rest of Europe
• Rest of Asia Pacific
• South America
• Middle East & Africa
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Scope and Report Methodology
Vanadium metal is highly consumed in steel production followed by its next important end-use including energy storage batteries and chemical catalyst among others. Key primary and secondary sources of vanadium include ferrovanadium, vanadium ores such as vanadinite, patronite, steel slag, ash residues, etc. However, over 85% of the vanadium metal is consumed in the processing of steel rebar and other alloys and chemical processing catalysts, narrowing down the supply for production of VRFBs for energy storage. This has resulted in a fluctuating price scenario over the past few years.
Adroit Market Research employs comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. We are a team of highly curious individuals who enjoy finding and analyzing patterns across different domains of business and trade. We are an extremely detail-oriented team of analytical minds who can identify, analyze and follow trends to create insightful studies
What does the report include?
• The global vanadium market is segmented on the basis of application and region
• The market estimates both historic and forecast have been provided in terms of volume and revenue. Tons of vanadium metal (tV) and USD million are the units taken into consideration for volume and revenue respectively.
• Market analysis using tools such as Porter’s Five Forces, PESTEL, and value chain
• Market segmentation by application for all regions and key countries within Asia Pacific, North America, and Europe
• Global production outlook of vanadium
• Company profiles of global and regional players along with market competitiveness
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Release ID: 505100