PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1099750
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1099750
Global Ferrovanadium Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. The Ferrovanadium refers to an alloy obtained by combining iron and vanadium with a vanadium content range of 35-85%. Ferrovanadium is touted as universal hardener, strengthener and anti-corrosive additive for steels. Ferrovanadium is widely utilized as an additive for steel. Ferro Vanadium also has application as an alloying agent for the metals iron and steel. It is also used across different industries such as aerospace, automotive & transport, construction, and oil & gas among others. The rising demand for steel worldwide and growing automotive manufacturing industry as well as recent strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to World Steel Association's estimates - as of 2022, the worldwide steel demand is estimated at 1 840.2 million tonnes, and the demand is projected to grow to around 1 881.4 million tonnes by end of 2023, witnessing an increase of over 2.23 percent. Furthermore, leading market players are working towards strategic collaborations to increase their client base. For instance, in September 2019, Amsterdam, Netherlands based leading provider of specialty metals, mineral products, names AMG Advanced Metallurgical Group entered in an agreement with Baar, Switzerland based commodity trading and mining company Glencore. Under this agreement AMG would supply 100% of its available ferrovanadium production to Glencore. Also, growing government spending on infrastructure development and rising construction sector in emerging economies are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high cost associated with raw materials and negative impact of ongoing Russia- Ukraine conflict as Russia is a leading vanadium supplier impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Ferrovanadium Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing demand for high grade steel and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as growing investment towards infrastructure development and rapid urbanization in the region, would create lucrative growth prospects for the global Ferrovanadium Market across the Asia Pacific region.
Major market players included in this report are:
EVRAZ plc
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.
Woojin Ind. Co. Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Grade
FeV 40
FeV 50
FeV 60
FeV 80
Nitrided Ferro Vanadium
By Production Method
Aluminothermic Reduction
Silicon Reduction
By End Use
Aerospace
Automotive & Transport
Construction
Oil & gas
Industrial Equipment
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Ferrovanadium Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
List of figures