Expansion of Ferro Vanadium Market to Remain Consistent During 2016-2026
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Ferro Vanadium Market: Drivers and restraints
Most of the ferro vanadium manufactured is utilized in the alloying process used to manufacture hardened steel. Hardened steel further finds application in the manufacturing of axles, bicycles frames, crankshafts and other highly critical steel components. Thus, the growing steel industry is expected to boost the overall growth in the demand for the ferro vanadium market. Ferro vanadium is also used in manufacturing the high carbon steel alloy which is widely used in the manufacturing of medical tools. Ferro vanadium when used in titanium alloys is used to manufacture jet engines and high speed airframes. Ferro vanadium reduces the overall weight of the steel and hence, is widely used in the light weight automobiles.
Ferro Vanadium Market: Segmentation
The Ferro Vanadium market can be segmented based on commercial grade as:
The Ferro Vanadium market can be segmented based on production method as:
Aluminothermic Reduction Technique
Silicon Reduction Technique
Ferro Vanadium Market: Region wise outlook
Asia Pacific is expected to be the largest producer of ferro vanadium. Within Asia Pacific, China is the largest manufacturer of ferro vanadium. Presence of huge vanadium mines in China is expected to enhance the growth in the overall production of ferro vanadium. India and Russia are expected to be other major ferro vanadium producers in Asia Pacific. South Africa is expected to be the next largest manufacturer of ferro vanadium. Europe is expected to be the one of the major consumer of ferro vanadium owing to the presence of large number of automobile manufacturers in the region. The demand for ferro vanadium is expected to grow gradually in North America.
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Ferro Vanadium Market: Key market players
Some of the key players identified in the global Ferro Vanadium market are:
AMG Advanced Metallurgical Group
Tremond Metals Corp.
Core Metals Group
Gulf Chemical and Metallurgical Corporation
Bear Metallurgical Company
Hickman, Williams & Companies
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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