Market Overview:
The global spherical vanadium powder market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for steel additive across various industries and regions. Steel additive is used as an alloying agent in the production of steel, which enhances its properties such as hardness, strength, and toughness. In addition, rising awareness about the benefits of using spherical vanadium powder in various applications is also contributing to the growth of this market. Based on type, the global spherical vanadium powder market can be segmented into 99.9% purity, 99.95% purity, and other types.
Product Definition:
A powder form of vanadium that is spherical in shape. Spherical vanadium powder is used as a catalyst and additive in various industrial applications.
99.9% Purity:
99.9% purity is a term used for the concentration of spherical vanadium powder which has very low impurities or no other element present in it. It is also known as pure vanadium, which has almost similar properties like that of titanium metal. 99.9% Purity spherical Vanadium Powder is widely used in various applications such as foundry sand, titanium tetrachloride production and aerospace parts manufacturing due to its high strength and corrosion resistance properties among others.
99.95% Purity:
99.95% purity spherical vanadium powder is used in various applications such as foundry sand, slag, cement clinkers and tire rubber. It also finds application in the production of specialty alloys for gas turbine components and high-speed aircraft parts manufacturing industries owing to its properties such as corrosion resistance, hardness & strength along with low density & specific weight.
Application Insights:
The steel additive segment led the global spherical vanadium powder market in 2017 and is projected to witness significant growth over the forecast period. Steel is one of the most consumed products on a global scale owing to its wide applications such as building & construction, automotive, machinery & equipment, and energy. The steel industry has witnessed tremendous growth over the past few years owing to increasing demand for steel from various sectors such as infrastructure, housing & buildings, transportation systems including automobiles and railways among others.
Spherical vanadium powder 99.9% purity grade was majorly used in stainless steel grades while other grades were majorly used in ferrous metal applications such as pig iron rods and bars among others.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a volume share of 68.2% in 2017 owing to high steel production and consumption coupled with rapid economic growth in emerging countries such as China, India, Indonesia, Vietnam, Thailand among others.
The growing automotive industry across Asia Pacific is projected to be one of the major factors driving product demand over the next eight years. In addition, rising construction activities due to increasing population are estimated to fuel vanadium powder demand further boosting regional growth during the forecast period.
North America emerged as a significant consumer due to increased use in steel manufacturing along with growing infrastructure development projects on account of low interest rates.
Growth Factors:
- Increasing demand for vanadium from the steel and automotive industries as a strengthening agent is expected to drive the market growth.
- Growing popularity of vanadium redox batteries (VRBs) as a storage solution for renewable energy is anticipated to boost the market growth.
- Rising demand for spherical vanadium powder in aerospace and defense applications is likely to propel the market growth over the forecast period.
- Increasing investments in research and development activities for developing new applications of spherical vanadium powder is projected to fuel the market expansion during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Spherical Vanadium Powder Market Research Report
By Type
99.9% Purity, 99.95% Purity, Other
By Application
Steel Additive, Other
By Companies
Advanced Engineering Materials, Ultra Minor Metals, Beijing Youxinglian Nonferrous Metals
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Spherical Vanadium Powder Market Report Segments:
The global Spherical Vanadium Powder market is segmented on the basis of:
Types
99.9% Purity, 99.95% Purity, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Steel Additive, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Advanced Engineering Materials
- Ultra Minor Metals
- Beijing Youxinglian Nonferrous Metals
Highlights of The Spherical Vanadium Powder Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 99.9% Purity
- 99.95% Purity
- Other
- By Application:
- Steel Additive
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Spherical Vanadium Powder Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Spherical vanadium powder is a type of vanadium ore that has been ground into a fine powder. It is used in industrial applications such as steel production and chemical processing.
Some of the key players operating in the spherical vanadium powder market are Advanced Engineering Materials, Ultra Minor Metals, Beijing Youxinglian Nonferrous Metals.
The spherical vanadium powder market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Spherical Vanadium Powder Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Spherical Vanadium Powder Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Spherical Vanadium Powder Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Spherical Vanadium Powder Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Spherical Vanadium Powder Market Size & Forecast, 2020-2028 4.5.1 Spherical Vanadium Powder Market Size and Y-o-Y Growth 4.5.2 Spherical Vanadium Powder Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 99.9% Purity
5.2.2 99.95% Purity
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Steel Additive
6.2.2 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Spherical Vanadium Powder Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Spherical Vanadium Powder Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 99.9% Purity
9.6.2 99.95% Purity
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Steel Additive
9.10.2 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 99.9% Purity
10.6.2 99.95% Purity
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Steel Additive
10.10.2 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 99.9% Purity
11.6.2 99.95% Purity
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Steel Additive
11.10.2 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 99.9% Purity
12.6.2 99.95% Purity
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Steel Additive
12.10.2 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 99.9% Purity
13.6.2 99.95% Purity
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Steel Additive
13.10.2 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Spherical Vanadium Powder Market: Competitive Dashboard
14.2 Global Spherical Vanadium Powder Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Advanced Engineering Materials
14.3.2 Ultra Minor Metals
14.3.3 Beijing Youxinglian Nonferrous Metals