openPR Logo
Press release

Ferrovanadium Market is Driven by Increasing Demand for Vanadium-Based Alloys in the Steel Industry

09-15-2023 01:58 PM CET | Industry, Real Estate & Construction

Press release from: Global Insight Services

Ferrovanadium Market is Driven by Increasing Demand

Ferrovanadium is a vanadium-iron alloy with a vanadium content of 35-85%. It is used as an additive in the production of steel and other alloys to impart strength and hardness. The addition of ferrovanadium to steel also increases its resistance to wear and corrosion.

Get a Sample Report at- https://www.globalinsightservices.com/request-sample/GIS22717

Key Trends

The key trends in ferrovanadium technology are:

1. Increasing demand for ferrovanadium: The global demand for ferrovanadium is increasing due to the growing steel industry. This is especially true in emerging markets such as China and India.

2. Innovation in production methods: There has been significant innovation in the production of ferrovanadium. This includes the development of new reduction methods and the use of alternative raw materials.

3. Increasing vanadium content in ferrovanadium: The vanadium content of ferrovanadium is increasing in order to meet the demands of the steel industry. This is done by either increasing the vanadium content of the iron ore feed or by adding vanadium to the reduction process.

4. Recycling of ferrovanadium: An increasing number of ferrovanadium producers are recycling their products in order to reduce costs and environmental impacts. This includes the recycling of vanadium-containing slag and ash.

Know More- https://www.globalinsightservices.com/reports/ferrovanadium-market/

Key Drivers

The key drivers of the ferrovanadium market are the increasing demand for vanadium-based alloys in the steel industry and the growing popularity of vanadium redox flow batteries (VRFBs) in the energy storage sector.

The steel industry is the largest consumer of vanadium, accounting for about 85% of global demand. Vanadium-based alloys are used to improve the strength and toughness of steel, making it ideal for use in construction, transportation, and other applications.

The growing popularity of VRFBs is also driving demand for vanadium. VRFBs are a type of battery that uses vanadium ions in an electrolyte solution to store and release energy. They are becoming increasingly popular as they offer a longer life span and higher energy density than traditional lead-acid batteries.

Buy this Market Research Report - https://www.globalinsightservices.com/checkout/single_user/GIS22717

Key Players

The Ferrovanadium Market includes players such as EVRAZ, AMG Advanced Metallurgical Group, Treibacher Industrie AG, Hickman, Williams & Company, Masterloy Products Company, Jinzhou Guangda Ferroalloy Co. Ltd., Reade International Corp., Bear Metallurgical Company, TAIYO KOKO Co.,Ltd. and Woojin Ind. Co. Ltd.

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with the highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Ferrovanadium Market is Driven by Increasing Demand for Vanadium-Based Alloys in the Steel Industry here

News-ID: 3210057 • Views:

More Releases from Global Insight Services

Immuno Oncology Drugs Market Projected to Reach $634.1 Billion by 2034, Growing at 17.5% CAGR | Overall Study Report
Immuno Oncology Drugs Market Projected to Reach $634.1 Billion by 2034, Growing …
The Immuno Oncology Drugs Market is rapidly emerging as a transformative segment in the global healthcare industry. These drugs harness the body's immune system to identify and attack cancer cells, offering innovative treatment alternatives to traditional chemotherapy and radiation therapies. Immuno-oncology therapies include monoclonal antibodies, checkpoint inhibitors, cancer vaccines, and cell-based therapies such as CAR-T cells. The growth of this market is primarily driven by advancements in biotechnology, an improved
GLP 1 Market Projected to Reach $221.8 Billion by 2034, Growing at 9% CAGR | Overall Study Report
GLP 1 Market Projected to Reach $221.8 Billion by 2034, Growing at 9% CAGR | Ove …
The GLP 1 Market is experiencing unprecedented growth, fueled by the rising prevalence of type 2 diabetes and obesity globally. GLP-1, or glucagon-like peptide-1 receptor agonists, represents a groundbreaking therapeutic class that improves insulin secretion, reduces glucagon production, and slows gastric emptying. These mechanisms not only enhance glycemic control but also support weight management, making GLP-1 therapies a preferred choice among healthcare providers and patients alike. Over the years, the
Autonomous Bus Market to Expand to $11.6 Billion by 2034, Advancing at 18.8% CAGR | Key Players: EasyMile, Navya, Aurrigo
Autonomous Bus Market to Expand to $11.6 Billion by 2034, Advancing at 18.8% CAG …
Market Overview Autonomous Bus Market is revolutionizing the future of urban mobility through advanced automation technologies. Valued at $2.1 billion in 2024, the market is projected to reach $11.6 billion by 2034, expanding at a strong CAGR of 18.8%. This market focuses on the development and deployment of self-driving buses equipped with cutting-edge sensors, artificial intelligence, and vehicle-to-everything (V2X) communication systems. These buses are designed to improve road safety, enhance passenger
Automotive Tire Market to Attain $976.7 Billion by 2034, Growing at 9.2% CAGR | Key Players: Apollo Tyres, Nokian Tyres, Hankook Tire
Automotive Tire Market to Attain $976.7 Billion by 2034, Growing at 9.2% CAGR | …
Market Overview Automotive Tire Market is experiencing remarkable growth as the industry embraces innovation, sustainability, and digital transformation. Valued at $406 billion in 2024, the market is projected to soar to $976.7 billion by 2034, reflecting a CAGR of 9.2%. This expansion is primarily driven by the surge in global vehicle production, growing consumer preference for durable and high-performance tires, and the increasing adoption of smart tire technologies. The Automotive Tire

All 5 Releases


More Releases for Ferrovanadium

Ferrovanadium Market Growth Strategies, Top Players, and Key Segments in 2025
Introduction The Global Ferrovanadium market plays a critical role in the global steel and alloy industries. As an essential alloying element, ferrovanadium enhances the strength, wear resistance, and corrosion resistance of steel, making it indispensable in construction, automotive, aerospace, and energy applications. With rising demand for high-strength steel and clean energy infrastructure, the ferrovanadium market is witnessing robust growth. This blog explores the growth strategies adopted by key players, the competitive
Ferrovanadium Market sales to reach a valuation of US$ 5,776.5 Mn by 2028
According to a new market report published by Future Market Insights, the global Ferrovanadium market is estimated to a reach value of US$ 3,547.6 Mn by 2022 end and is expected to expand at a CAGR of 5.0% from 2022 to 2028 and reach a market value of US$ 5,776.5 Mn by 2028. Ferrovanadium is an alloy used to strengthen steel. It is a combination of iron and vanadium in which
Ferrovanadium Market Global Methodology, Research Findings, Size And Forecast To …
"Ferrovanadium Market" study by "The Insight Partners" provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years. Ferrovanadium is defined as a kind of alloy which provides strength to steel. It is composed of iron and vanadium, wherein the content of vanadium potentially varies from 35% to 80%. Ferrovanadium
Ferrovanadium Industry Market Growing Demand, Opportunities and Analysis 2022 to …
Precision Business Insights published a research report on research report "Global Ferrovanadium Industry Market: By Grade Type (FeV40, FeV50, FeV60, FeV80, Others), By Application (Steel production, Pipelines, Automotive, Ships, Aerospace, Others), and Geography- Global/Region/Country Forecast to 2028". Ferrovanadium industry market was valued at US$ 5.1 Bn in the year 2021 and is projected to value at 7.56 Bn till 2028 witnessing a CAGR rate of 6.3% during the evaluation time
Global Ferrovanadium Market Size, Competitive Landscape, Regional Outlook and Dr …
According to HJ Research's latest research report, the global Ferrovanadium market is estimated to be valued at XX Million US$ in 2019 and is projected to reach XX Million US$ by 2026, expanding at a CAGR of XX% during the forecast period. The report on Ferrovanadium market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, industrial chain, etc. In this
Ferrovanadium Market Insights On Emerging Scope Prophesy 2027
Global Ferrovanadium Market: Overview In the last 2 years, the global ferrovanadium market has witnesses a surge in price and some remarkable changes in global trade landscape. Price of ferrovanadium has doubled as compared to the price of 2017. Higher prices of ferrovanadium have led to increased demand for its substitutes. A blend of iron and vanadium, ferrovanadium finds abundant use in the assembly of steel. The components of ferrovanadium come