Global Vanadium Alloy Market will multiply at an impressive CAGR of 5.2% by 2025 & Top Key Players Bushveld Minerals, Tremond Metals Corp., Core Metals Group, Gulf Chemical and Metallurgical Corporation, Bear Metallurgical Company, Atlantic Limited., Shen

The numerous applications of steel in infrastructure, automobile and heavy machinery has driven the demand for vanadium. Countries such as China, Japan, Russia and U.S. are providing immense growth opportunities for the vanadium alloy market. Apart from this, the growing support from governments of various nations towards non-conventional sources and applications of vanadium in steel production is estimated to promote a higher demand for vanadium compounds in forthcoming years. The global market of vanadium alloy is predicted to grow with market valuation of USD 5,627.3 Million by the end of 2025, rising its way up from USD 3,768.1 Million in 2017 by expanding at a CAGR of 5.2% over the forecast period i.e. 2018-2025.
The global vanadium alloy market is segmented by alloy type into ferrovanadium, nitrovan, nitride vanadium and nitrate & nitrite vanadium, out of which, the ferrovanadium alloy dominated the market with highest market share of around 85% during 2017. The ferrovanadium alloy segment is further segmented into production process and grade, out of which the production process segment is further divided into reduction by silicon, reduction by aluminum and others. With more than 65% of the total market share in 2017, the reduction by aluminum segment is anticipated to achieve absolute $ opportunity of USD 993.0 Million between 2018 and 2025.

Potential Growth Drivers Accelerating the Progress of the Global Vanadium Alloy Market

The global vanadium alloy market is thriving on the back of the growing applications of vanadium in energy storage units.
Rapid Infrastructure Growth – The strengthening of infrastructural development in developing economies around the world tends to drive the vanadium market.

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Non-Conventional Sources of Energy – Several governments of various countries had altered the policies and the regulations to promote the non-conventional sources of energy.

Rise in Steel Demand – The rise in the demand for advanced high-strength steel in several industries such as automobile and infrastructure, bolstered the demand for Ferro Vanadium and Nitro Vanadium.
Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Vanadium Alloy Market

According to Research Nester, the availability of alternative minerals is envisioned to hinder the growth of the vanadium alloy market across the globe. Further, the absence of vanadium based batteries such as vanadium redox flow batteries in portable form might limit the demand for vanadium alloy.

The report titled “Global Vanadium Alloy Market Outlook: Industry Demand Analysis & Opportunity Assessment 2017–2025” delivers detailed overview of the global vanadium alloy market in terms of market segmentation by alloy type and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global vanadium alloy market which includes company profiling of Bushveld Minerals, Tremond Metals Corp., Core Metals Group, Gulf Chemical and Metallurgical Corporation, Bear Metallurgical Company, Atlantic Limited., Shenszhen Chinary Co.Ltd., Hickman, Williams & Company and Yellow Rock Resources Ltd.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global vanadium alloy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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About Research Nester

Research Nester is a one-stop service provider with a client base in more than 120 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

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