Market Overview:
The global vanadium steel 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 vanadium steel in various applications such as chemical, building, and others. Vanadium is used as an alloying agent in steelmaking because it improves the strength and toughness of the final product, making it suitable for use in high-stress applications. Vanadium alloys are also known for their resistance to wear and tear, which makes them ideal for use in heavy-duty industrial equipment and machinery.
Product Definition:
Vanadium steel is a type of alloy steel that contains vanadium. It is known for its superior strength and toughness, making it ideal for use in heavy-duty applications. Vanadium steel is often used in the construction of bridges, ships, and other large structures.
Iron Mixed:
Iron mixed with vanadium steel is used in the manufacturing of tools and dies. It increases the hardness of steel while reducing its cost. The product also helps to reduce machining costs, improves tool life and eliminates cold work pieces by improving hardenability.
Tantalum Mixed:
Tantalum mixed with vanadium steel is used in the manufacturing of transmission belts, brake bands, and power steering hoses. It helps to increase the hardness and strength of all these products. The product also improves wear resistance properties which further increases its demand in automotive applications.
The global vanadium steel market size was valued at USD 1.83 billion in 2016.
Application Insights:
Building was the largest application segment in 2017 and accounted for a volume share of over 50.0% in 2017. The vanadium steel is used to manufacture various products including channels, beams, girders, pipes and other components for use in construction industry owing to its high strength-to-weight ratio. Channel iron manufactured from vanadium steel has good resistance against corrosion and oxidation which makes it suitable for use in seawater environment where corrosion is likely to occur frequently.
Regional Analysis:
Asia Pacific accounted for the largest share of more than 45% in 2017. The region is expected to witness significant growth over the forecast period owing to rising product demand from key sectors including construction, automotive, and energy. China emerged as a major consumer of vanadium steel products on account of rapid industrialization along with strong economic growth in this country.
Europe was the second-largest market for global vanadium steel market due to high consumption levels in several countries such as Germany, U.K., Italy, and France among others that resulted into high product demand across Europe during 2017-18crop season despite limited production levels at some mines due to labor issues between unions and management which leded higher imports from Russia resulting into a shortage situation by mid 2018 crop year i.e., 2018/19 season).
Growth Factors:
- Increasing demand from the automotive and construction industries
- Growing popularity of vanadium steel in the Asia Pacific region
- Rising awareness about the benefits of vanadium steel among consumers
- Technological advancements that make production of vanadium steel more efficient 5. Stringent government regulations encouraging use of vanadium steel
Scope Of The Report
Report Attributes
Report Details
Report Title
Vanadium Steel Market Research Report
By Type
Iron Mixed, Tantalum Mixed, Other Alloys
By Application
Chemical, Building, Others
By Companies
AMG Advanced Metallurgical Group NV, Angang Steel Co. Ltd., Australian Vanadium Ltd., Bushveld Minerals, EVRAZ Plc, Glencore Plc, HBIS Group Co. Ltd., Largo Resources Ltd., Treibacher Industrie AG, VanadiumCorp Resource Inc.
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
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Vanadium Steel Market Report Segments:
The global Vanadium Steel market is segmented on the basis of:
Types
Iron Mixed, Tantalum Mixed, Other Alloys
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
Chemical, Building, Others
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:
- AMG Advanced Metallurgical Group NV
- Angang Steel Co. Ltd.
- Australian Vanadium Ltd.
- Bushveld Minerals
- EVRAZ Plc
- Glencore Plc
- HBIS Group Co. Ltd.
- Largo Resources Ltd.
- Treibacher Industrie AG
- VanadiumCorp Resource Inc.
Highlights of The Vanadium Steel 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:
- Iron Mixed
- Tantalum Mixed
- Other Alloys
- By Application:
- Chemical
- Building
- Others
- 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 Vanadium Steel 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Vanadium steel is a type of steel that contains vanadium. Vanadium is a metal that has many properties that make it desirable for use in steel, such as high strength and resistance to corrosion.
Some of the major players in the vanadium steel market are AMG Advanced Metallurgical Group NV, Angang Steel Co. Ltd., Australian Vanadium Ltd., Bushveld Minerals, EVRAZ Plc, Glencore Plc, HBIS Group Co. Ltd., Largo Resources Ltd., Treibacher Industrie AG, VanadiumCorp Resource Inc..
The vanadium steel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vanadium Steel 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 Vanadium Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vanadium Steel 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 Vanadium Steel 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 Vanadium Steel Market Size & Forecast, 2020-2028
4.5.1 Vanadium Steel Market Size and Y-o-Y Growth
4.5.2 Vanadium Steel 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 Iron Mixed
5.2.2 Tantalum Mixed
5.2.3 Other Alloys
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 Chemical
6.2.2 Building
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vanadium Steel 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 Vanadium Steel 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 Iron Mixed
9.6.2 Tantalum Mixed
9.6.3 Other Alloys
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 Chemical
9.10.2 Building
9.10.3 Others
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 Iron Mixed
10.6.2 Tantalum Mixed
10.6.3 Other Alloys
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 Chemical
10.10.2 Building
10.10.3 Others
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 Iron Mixed
11.6.2 Tantalum Mixed
11.6.3 Other Alloys
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 Chemical
11.10.2 Building
11.10.3 Others
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 Iron Mixed
12.6.2 Tantalum Mixed
12.6.3 Other Alloys
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 Chemical
12.10.2 Building
12.10.3 Others
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 Iron Mixed
13.6.2 Tantalum Mixed
13.6.3 Other Alloys
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 Chemical
13.10.2 Building
13.10.3 Others
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 Vanadium Steel Market: Competitive Dashboard
14.2 Global Vanadium Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AMG Advanced Metallurgical Group NV
14.3.2 Angang Steel Co. Ltd.
14.3.3 Australian Vanadium Ltd.
14.3.4 Bushveld Minerals
14.3.5 EVRAZ Plc
14.3.6 Glencore Plc
14.3.7 HBIS Group Co. Ltd.
14.3.8 Largo Resources Ltd.
14.3.9 Treibacher Industrie AG
14.3.10 VanadiumCorp Resource Inc.
