March 29, 2019: Adroit Market Research introduced a new market study on the “Global Vanadium Market Size and Trends, By Application (Iron & Steel, Energy Storage, Chemical, And Titanium Alloys), By Region (Asia Pacific, Europe, North America, South America, Middle East and Africa) and Forecast from 2018 to 2025”. The global vanadium market sizing and forecast estimates have been provided in terms of volume (tons of contained vanadium (tV)) and revenue (USD million). 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 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. 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 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.
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.
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