The strengthening of infrastructural development in developing economies such as China, Japan, Russia and U.S. is driving the growth of the vanadium alloy market. In addition to that, the growing applications of steel in infrastructure, automobile and heavy machinery combined with various government initiatives towards non-conventional sources has driven the demand for vanadium alloy around the globe.
The global vanadium alloy market accounted for USD 3,768.1 Million in 2017 and is predicted to reach the market valuation of USD 5,627.3 Million by the end of 2025. Further, the global market of vanadium alloy is estimated to witness a CAGR of 5.2% over the forecast period i.e. 2018-2025.
In terms of regional segmentation, the global vanadium alloy market is segmented into North America, Europe and Asia-Pacific, where Asia-Pacific dominated the overall market of vanadium alloy by holding the leading share of 60.8% during 2017 and is predicted to behold its dominant stance by expanding at a CAGR of 4.7% during the forecast period. Further, Russia & Germany are the major contributors behind the growth of the Europe vanadium alloy market, whereas, the U.S. being the dominant share holder in North America region, is estimated to drive the North America vanadium alloy market by registering a CAGR of 6.3% between the years 2018 and 2025.
Further, the global vanadium alloy market is segmented by alloy type into ferrovanadium, nitrovan, nitride vanadium and nitrate & nitrite vanadium. Among these segments, the ferrovanadium alloy occupied the largest market of vanadium alloy across the globe by holding more than 85% of total market share during 2017 and is predicted continue with its dominance by observing the growth rate of 1.4x over the forecast period.
The Report titled “Global Vanadium Alloy Market Outlook: Industry Demand Analysis & Opportunity Assessment 2017–2025” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
This report also studies existing competitive scenario of some of the key players of the global vanadium alloy market which includes 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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Vanadium Alloy Market Outlook 2025, analyses the overall vanadium alloy industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global vanadium alloy market in the near future.