Market Research Report
Global Vanadium Alloy Market Outlook 2025
|Published by||Research Nester||Product code||750782|
|Published||Content info||219 Pages
Delivery time: 1-2 business days
|Global Vanadium Alloy Market Outlook 2025|
|Published: October 1, 2018||Content info: 219 Pages||
The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Global vanadium alloy market reached USD 3,768.1 Million in 2017 and is expected to reach USD 5,627.3 Million by the end of 2025, expanding at a CAGR of 5.2% over the forecast period i.e. 2018-2025. Moreover, the growth of vanadium alloy market is attributed to the increasing demand of steel in the infrastructural development.
Asia Pacific is slated to account for a leading share of 60.8% in the terms of revenue by 2025 in the vanadium alloy market. Asia Pacific vanadium alloy market reached USD 2,291.6 Million in 2017 and is expected to reach USD 3,290.9 Million by the end of 2025, expanding at a CAGR of 4.7% over the forecast period i.e. 2018-2025. Further, the market of Asia Pacific vanadium alloy is anticipated to achieve an market share of 58.5% in 2025 as compared to the previous year.
In addition to this, China vanadium alloy market was held at USD 685.0 Million in 2017 and is anticipated to reach USD 931.3 Million by the end of 2025. China vanadium alloy market accounted for a market share of 29.9% in 2017 and further, is expected to decline to a market share of 28.3% by the end of 2025
North America is expected to showcase substantial growth over the forecast period i.e. 2018-2025 by registering a CAGR of 6.3% over the forecast period. Further, the market is expected to account for USD 1,003.3 Million by 2025 from USD 619.5 Million in 2017.
Additionally, U.S. vanadium alloy market reached USD 501.8 Million in 2017 and is expected to reach USD 785.1 Million by the end of 2025, expanding at a CAGR of 5.8% over the forecast period i.e. 2018-2025. Further, the market of U.S. vanadium alloy market contributed around 81.0% market share of total North America vanadium alloy market in 2017.
Global vanadium alloy market is segmented on the basis of alloy type into ferrovanadium, nitrovan, nitride vanadium and nitrate & nitrite vanadium. Ferrovanadium vanadium alloy (87.9% share in 2017) occupies the largest market of vanadium alloy across the globe. Further, global ferrovanadium vanadium alloy market is anticipated to reach USD 4,893.9 Million by the end of 2025 from USD 3,311.5 Million in 2017.
Bushveld Mineral Limited , Tremond Metal Corporation, Core Metals Group, Bear Metallurgical Company and Yellow Rock Resources Ltd are some of the prominent players of global vanadium alloy market