Press release
Ammonium Metavanadate Market to surpass USD 85 million by 2025| American Elements, Merck KGaA, Thermo Fisher Scientific, Santa Cruz Biotechnology, Yogi Dye Chem Industries, ACS Chemicals, Avanschem, Motiv Metals, GfE Gesellschaft für Elektrometallurgie, S
Global powder form market should surpass USD 65 million by 2025 pertaining to growing demand for catalysts to reduce production costs & environmental emissions in electrical & electronics and automotive sectors. Ammonium metavanadate finds widespread usage as a catalyst owing to its ability to improve yield, cost effectiveness and ability to conduct chemical reactions at room temperature. Significant expansion of chemical industry owing to growing demand for plastics and rubber should further stimulate the demand for catalysts and boost market growth.
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Top Companies
1. American Elements
2. Merck KGaA
3. Thermo Fisher Scientific
4. Santa Cruz Biotechnology
5. Yogi Dye Chem Industries
6. ACS Chemicals
7. Avanschem
8. Motiv Metals
9. GfE Gesellschaft für Elektrometallurgie
10. Sisco Research Laboratories and Strem Chemicals.
Regional Growth Drivers are
1. North America: Increasing adoption of rechargeable sodium-ion batteries pertaining to rising preference for energy efficiency
2. Europe: Booming glass industry
3. Asia Pacific: Growing demand for vanadium pentoxide from steel industry and increasing ceramics adoption in construction sector
Global ammonium metavanadate market demand from paints, inks & dyes should register over 6% gains by 2025 on account of rising demand for textile products pertaining to changing consumer preferences and rising disposable income. The product plays a vital role as a drying agent in the production of dyes and pigments which enhances their drying rate. Growing adoption of digital printing technology should drive the requirement for dyes & printing inks and trigger market growth.
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Merck, American Elements, Strem Chemicals, ACS Chemicals, Thermo Fisher Scientific and Motiv Metals are among the major industry participants. The industry participants are engaged in strategic acquisitions to expand their product portfolio and achieve market growth.
Europe ammonium vanadate market led by UK, France and Germany should surpass USD 24.5 million owing to growing demand for glass as a packaging material from the regional beverage sector. The product improves the functionality of glass by imparting UV & infrared resistance and yellow coloration. Growing consumer awareness regarding the sustainable nature of packaging glass and growing adoption of solar products to promote energy efficiency should further promote market growth.
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