Global Vanadium Market Overview:
Vanadium (V) is a white ductile metal belonging to group V of the periodic system of elements and it forms compounds mainly in valence states +3, +4 and +5. Vanadium are used to make steel alloys, use in space vehicles, nuclear reactors and aircraft carriers, etc. Vanadium is used to make Vanadium Redox Flow Batteries (VRFBs) as it create a reliable, safe and stable solution for the storage of renewable energy. Vanadium pentoxide can be used in the manufacture of dyes and printing fabrics as a catalyst. Vanadium is also used for treating, low blood sugar, high cholesterol, heart disease, prediabetes and diabetes tuberculosis, syphilis, a form of tired blood and for preventing cancer.
Market Drivers
- Increasing Use of Vanadium in the Automobile Industry
Market Trend
- Increasing Use for Commercial Energy Storage
Restraints
- Vanadium can Damage the Kidney if Consumed In Large Amount
Opportunities
- Growing Usage of Vanadium Redox Flow Batteries
Challenges
- Fluctuating Prices of Vanadium
Competitive Landscape:
Some of the key players profiled in the report are MT. EVRAZ KGOK (Russia), Bushveld Minerals (South Africa), Largo Resources (Brazil), Treibacher Industrie AG. (Austria), Tremond Alloys & Metals Corp. (United States), Xining Special Steel (China), Australian Vanadium (Australia), Vanadiumcorp (Canada), Hebei Iron & Steel (China) and AMG Advanced Metallurgical Group (Netherlands). Additionally, following companies can also be profiled that are part of our coverage like Globe Specialty Metals, Inc. (United States), R.R.Ferro Alloys (P) Ltd. (India) and Pangang Group Vanadium Titanium & Resources (China). Analyst at AdvanceMarketAnalytics see Chinese Vendors to retain maximum share of Global Vanadium market by 2024. Considering Market by Vanadium Minerals, the sub-segment i.e. Patronite will boost the Vanadium market.
Market Highlights:
On May 13, 2019- AVL Signs Joint Venture with Ultra Power Systems on Coates Vanadium Project. UPS aims to produce vanadium electrolyte using a combination of a unique processing route and high-density vanadium electrolyte production.
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Vanadium market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Vanadium market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Vanadium, Suppliers of Vanadium, Wholesalers, Distributors and Retailers of Vanadium, Steel Industry and Governmental Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.