The global vanadium market is expected to grow at a CAGR of 4.5% from 2021 to 2030. The growth in the market can be attributed to the increasing demand for vanadium in various applications such as steel production, automotive, and aerospace industries. Vanadium is used as an alloying agent in steel production and it improves the strength of steel by making it more resistant to corrosion. It also increases the hardness of steel which makes it suitable for use in tools and dies. Vanadium is also used as a catalyst for petroleum refining process which helps reduce emissions from vehicles by reducing sulfur content in gasoline and diesel fuel.
Vanadium slag accounted for over 50% share of the global vanadium market during 2017-2021, followed by petroleum residue with over 30%. The high share of vanadium slag can be attributed to its low cost compared with other types such as petroleum residue or spent catalyst which are more expensive due to their higher purity levels. In terms of application, carbon steel accounted for over 40% share during 2017-2021 followed by low alloy steel with around 25%. Carbon steels are widely used across various industries such as automotive industry where they are used extensively due to their high strength properties that make them suitable for use in car bodies or engine blocks among others while low alloy steels are mainly used in manufacturing tools and dies because they have good wear resistance properties that make them suitable for machining operations among others.
Some Of The Growth Factors Of This Market:
- Vanadium is a key component in the production of steel, and as such, demand for vanadium will increase as the global steel industry continues to grow.
- The use of vanadium in lithium-ion batteries is expected to increase demand for vanadium over the next decade.
- Vanadium prices have been on an upward trend since 2010, which has led to increased exploration and production activity in countries such as China and Russia.
- The price of vanadium has been volatile over the past few years due to supply disruptions from major producers such as China and South Africa; however, this volatility may be reduced by new sources of supply coming online from countries like Canada and Kazakhstan.
- Vanadium prices are expected to continue their upward trend due to increasing demand from emerging markets.
Industry Growth Insights published a new data on “Vanadium Market”. The research report is titled “Vanadium Market research by Types (Vanadium Slag, Petroleum Residue and Canadium-containing Spent Catalyst, other), By Applications (Carbon Steel, Low-alloy Steel, High Alloy Steel, Tool Steel, Non-ferrous Alloy), By Players/Companies EVRAZ KGOK, Pangang Group, China Vanadium Titano-Magnetite Mining, Synergy Group, Beijing Jianlong, Desheng Group, Tranvic Group, Huayuan, Largo Resources, AMG Vanadium, Bushveld Minerals, VanadiumCorp, Australian Vanadium”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Vanadium Market Research Report
By Type
Vanadium Slag, Petroleum Residue and Canadium-containing Spent Catalyst, other
By Application
Carbon Steel, Low-alloy Steel, High Alloy Steel, Tool Steel, Non-ferrous Alloy
By Companies
EVRAZ KGOK, Pangang Group, China Vanadium Titano-Magnetite Mining, Synergy Group, Beijing Jianlong, Desheng Group, Tranvic Group, Huayuan, Largo Resources, AMG Vanadium, Bushveld Minerals, VanadiumCorp, Australian Vanadium
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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Vanadium Market Report Segments:
The global Vanadium market is segmented on the basis of:
Types
Vanadium Slag, Petroleum Residue and Canadium-containing Spent Catalyst, 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
Carbon Steel, Low-alloy Steel, High Alloy Steel, Tool Steel, Non-ferrous Alloy
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:
- EVRAZ KGOK
- Pangang Group
- China Vanadium Titano-Magnetite Mining
- Synergy Group
- Beijing Jianlong
- Desheng Group
- Tranvic Group
- Huayuan
- Largo Resources
- AMG Vanadium
- Bushveld Minerals
- VanadiumCorp
- Australian Vanadium
Highlights of The Vanadium 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:
- Vanadium Slag
- Petroleum Residue and Canadium-containing Spent Catalyst
- other
- By Application:
- Carbon Steel
- Low-alloy Steel
- High Alloy Steel
- Tool Steel
- Non-ferrous Alloy
- 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 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 is a metal that is found in the Earth's crust. It is also found in meteorites and other natural resources. Vanadium has many uses, including being used as an alloy for steel, vanadium oxide being used as a pigment, and vanadyl sulfate being used as a medication.
Some of the major players in the vanadium market are EVRAZ KGOK, Pangang Group, China Vanadium Titano-Magnetite Mining, Synergy Group, Beijing Jianlong, Desheng Group, Tranvic Group, Huayuan, Largo Resources, AMG Vanadium, Bushveld Minerals, VanadiumCorp, Australian Vanadium.
The vanadium market is expected to register a CAGR of 4.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vanadium Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vanadium Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vanadium Market - Supply Chain
4.5. Global Vanadium Market Forecast
4.5.1. Vanadium Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vanadium Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vanadium Market Absolute $ Opportunity
5. Global Vanadium Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vanadium Market Size and Volume Forecast by Type
5.3.1. Vanadium Slag
5.3.2. Petroleum Residue and Canadium-containing Spent Catalyst
5.3.3. other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vanadium Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vanadium Market Size and Volume Forecast by Application
6.3.1. Carbon Steel
6.3.2. Low-alloy Steel
6.3.3. High Alloy Steel
6.3.4. Tool Steel
6.3.5. Non-ferrous Alloy
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vanadium Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vanadium Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vanadium Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vanadium Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vanadium Demand Share Forecast, 2019-2029
9. North America Vanadium Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vanadium Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vanadium Market Size and Volume Forecast by Application
9.4.1. Carbon Steel
9.4.2. Low-alloy Steel
9.4.3. High Alloy Steel
9.4.4. Tool Steel
9.4.5. Non-ferrous Alloy
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vanadium Market Size and Volume Forecast by Type
9.7.1. Vanadium Slag
9.7.2. Petroleum Residue and Canadium-containing Spent Catalyst
9.7.3. other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vanadium Demand Share Forecast, 2019-2029
10. Latin America Vanadium Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vanadium Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vanadium Market Size and Volume Forecast by Application
10.4.1. Carbon Steel
10.4.2. Low-alloy Steel
10.4.3. High Alloy Steel
10.4.4. Tool Steel
10.4.5. Non-ferrous Alloy
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vanadium Market Size and Volume Forecast by Type
10.7.1. Vanadium Slag
10.7.2. Petroleum Residue and Canadium-containing Spent Catalyst
10.7.3. other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vanadium Demand Share Forecast, 2019-2029
11. Europe Vanadium Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vanadium Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vanadium Market Size and Volume Forecast by Application
11.4.1. Carbon Steel
11.4.2. Low-alloy Steel
11.4.3. High Alloy Steel
11.4.4. Tool Steel
11.4.5. Non-ferrous Alloy
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vanadium Market Size and Volume Forecast by Type
11.7.1. Vanadium Slag
11.7.2. Petroleum Residue and Canadium-containing Spent Catalyst
11.7.3. other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vanadium Demand Share, 2019-2029
12. Asia Pacific Vanadium Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vanadium Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vanadium Market Size and Volume Forecast by Application
12.4.1. Carbon Steel
12.4.2. Low-alloy Steel
12.4.3. High Alloy Steel
12.4.4. Tool Steel
12.4.5. Non-ferrous Alloy
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vanadium Market Size and Volume Forecast by Type
12.7.1. Vanadium Slag
12.7.2. Petroleum Residue and Canadium-containing Spent Catalyst
12.7.3. other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vanadium Demand Share, 2019-2029
13. Middle East & Africa Vanadium Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vanadium Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vanadium Market Size and Volume Forecast by Application
13.4.1. Carbon Steel
13.4.2. Low-alloy Steel
13.4.3. High Alloy Steel
13.4.4. Tool Steel
13.4.5. Non-ferrous Alloy
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vanadium Market Size and Volume Forecast by Type
13.7.1. Vanadium Slag
13.7.2. Petroleum Residue and Canadium-containing Spent Catalyst
13.7.3. other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vanadium Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Vanadium Market: Market Share Analysis
14.2. Vanadium Distributors and Customers
14.3. Vanadium Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. EVRAZ KGOK
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Pangang Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. China Vanadium Titano-Magnetite Mining
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Synergy Group
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Beijing Jianlong
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Desheng Group
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Tranvic Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Huayuan
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Largo Resources
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. AMG Vanadium
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Bushveld Minerals
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. VanadiumCorp
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Australian Vanadium
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
