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Global Vanadium Market 2017-2021

Global Vanadium Market 2017-2021

About Vanadium

Vanadium is a rare chemical element. It is soft, silvery grey, ductile transition metal. The compound is available in chemically combined forms, which occurs naturally in about 65 different minerals and fossil fuel deposits. It is mined mostly in South Africa, northwestern China, and eastern Russia. It is generally produced through the process of steel smelter slag. In addition, vanadium is also produced by the flue dust of heavy oil or as a by-product of uranium mining.

Technavio’s analysts forecast the global vanadium market to grow at a CAGR of 11.24% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global vanadium market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Vanadium Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Bushveld Minerals
  • EVRAZ
  • LARGO RESOURCES
  • Panzhihua Iron and Steel Group
  • VanadiumCorp
Other prominent vendors
  • Atlantic
  • AMERICAN VANADIUM
  • Australian Vanadium
  • Glencore
  • Hebei iron and steel
  • Xining Special Steel
Market driver
  • Increasing demand in construction industry
  • For a full, detailed list, view our report
Market challenge
  • Fluctuation in steel industry
  • For a full, detailed list, view our report
Market trend
  • Vanadium in batteries
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Vanadium Market 2017-2021

Technavio recognizes the following companies as the key players in the global vanadium market: Bushveld Minerals, EVRAZ, LARGO RESOURCES, Panzhihua Iron and Steel Group, and VanadiumCorp.

Other Prominent Vendors in the market are: Atlantic, AMERICAN VANADIUM, Australian Vanadium, Glencore, Hebei iron and steel, and Xining Special Steel.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is vanadium in batteries. Vanadium is adopted into the rapidly growing energy storage market due to vertical integration strategies focused on Vanadium Redox Flow Batteries. In Vanadium Redox Flow Batteries, vanadium ions are used in different oxidation states to store chemical potential energy.”

According to the report, one driver in the market is increasing demand in construction industry. The construction sector is the largest consumer of steel products and vanadium. Vanadium is extensively used in alloys for strengthening steel used in building and bridges. It facilitates strength in reinforcing bars used in buildings, tunnels, and bridges. Vanadium is added to steel bars, concrete structure, and suspension ropes. In North America, rolled vanadium steel sections are used extensively in frames and roofs of industrial buildings.

Further, the report states that one challenge in the market is fluctuation in steel industry. The consumption of high strength steels is subject to financial risks in the market. The demand for high strength steels depends on the performance of the global steel industry. Vanadium is extensively used in steel alloys. It facilitates additional strength in steel used in building, bridges, and tunnels. The steel and high strength steel markets are vulnerable to price divergence risks due to the deviation in derivatives and prices of high strength steels because of economic factors across the globe.

Companies Mentioned

Bushveld Minerals, EVRAZ, LARGO RESOURCES, Panzhihua Iron and Steel Group, VanadiumCorp, Atlantic, AMERICAN VANADIUM, Australian Vanadium, Glencore, Hebei iron and steel, and Xining Special Steel.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
      • Table Vanadium production sources
      • Table Production process of vanadium
  • Market landscape
    • Market overview
      • Table Global vanadium market
    • Market size and forecast
      • Table Global vanadium market 2016-2021 (kilotons)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global vanadium market by application 2016
      • Table Global vanadium market by application 2016 (kilotons)
    • Global vanadium market by application 2021
      • Table Global vanadium market by application 2021 (kilotons)
    • Global vanadium market by steel
      • Table Global vanadium market by steel 2016-2021 (kilotons)
    • Global vanadium market by titanium alloys
      • Table Global vanadium market by titanium alloys 2016-2021 (kilotons)
    • Global vanadium market by others
      • Table Global vanadium market by others 2016-2021 (kilotons)
  • Regional landscape
    • Geographical segmentation
      • Table Global - market size & forecast 2016-2021
    • Regional comparison
      • Table Regional comparison
    • APAC - market size & forecast
      • Table APAC - market size & forecast 2016-2021 (kilotons)
      • Table APAC - Year-over-year growth 2017-2021 (%)
      • Table Top 3 countries in APAC
    • EMEA - market size & forecast
      • Table EMEA - market size & forecast 2016-2021 (kilotons)
      • Table EMEA - Year-over-year growth 2017-2021 (%)
      • Table Top 3 countries in EMEA
    • Americas - market size & forecast
      • Table Americas - market size & forecast 2016-2021 (kilotons)
      • Table Americas - Year-over-year growth 2017-2021 (%)
      • Table Top 3 countries in Americas
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Buildings and structures in which vanadium is used
    • Market challenges
  • Market trends
    • Vanadium in batteries
    • Increase in use of vanadium-bearing bar
    • Technological enhancement and capacity expansion
  • Vendor landscape
    • Competitor landscape
    • Other prominent vendors
  • Key vendor analysis
    • Bushveld Minerals
      • Table Bushveld Minerals: List of projects
    • EVRAZ
      • Table EVRAZ: Business segmentation by revenue 2016 ($ millions)
      • Table EVRAZ: Geographic segmentation by revenue 2016 ($ millions)
    • LARGO RESOURCES
      • Table LARGO RESOURCES: List of projects
    • Panzhihua Iron and Steel Group
      • Table Panzhihua Iron and Steel Group: Business segmentation by revenue 2016 ($ millions)
      • Table Panzhihua Iron and Steel Group: Geographic segmentation by revenue 2016 ($ millions)
    • VanadiumCorp Resource
      • Table VanadiumCorp Resource: Business segmentation by product
  • Appendix
    • List of abbreviations
  • Explore Technavio

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