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Vanadium Market Size, Share, Trends, & Industry Analysis Report: By Grade Type (FeV40, FeV50, FeV60, and Other), By Application, and By Region – Market Forecast, 2025–2034

Publisher Polaris Market Research & Consulting LLP
Published May 01, 2025
Length 129 Pages
SKU # PLRS20199227

Description

The vanadium market size is expected to reach USD 3,832.90 million by 2034, according to a new study by Polaris Market Research. The report “Vanadium Market Size, Share, Trends, & Industry Analysis Report: By Grade Type (FeV40, FeV50, FeV60, and Other), By Application, and By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Vanadium is a rare, hard metal used primarily to strengthen steel and improve its durability. It is also essential in producing advanced batteries and aerospace materials due to its excellent corrosion resistance and strength.

Rising demand in steel production is driving the market growth. Vanadium is widely used as an alloying element to strengthen steel, making it lighter, tougher, and more resistant to corrosion. The construction, automotive, and infrastructure sectors heavily rely on vanadium-reinforced steel for building durable structures, vehicles, and machinery. As urbanization and industrialization continue globally, the demand for high-strength steel rises, which directly boosts vanadium consumption. Increasing infrastructure projects and automotive production in developing and developed countries are expected to create steady growth opportunities for the vanadium market during the forecast period.

Vanadium’s strength, light weight, and resistance to heat and corrosion make it valuable in aerospace applications. It is used in titanium alloys for aircraft components, improving fuel efficiency and safety. As the aerospace sector expands due to rising air travel and defense spending, the demand for vanadium-based materials grows. The need for lighter and stronger materials to reduce emissions and improve performance supports vanadium’s importance in this industry.

Vanadium Market Report Highlights

Based on application, in 2024, the steel segment dominated with the largest share. Vanadium improves steel’s strength, toughness, and resistance to wear and corrosion, which is essential in construction, infrastructure, and automotive industries.

The FeV40 segment, by grade type, is witnessing significant growth due to its balanced composition and versatile applications.

In 2024, the Aisa Pacific vanadium market dominated with the largest share due to rapid industrialization, infrastructure development, and expanding steel production.

The North America vanadium market is experiencing significant growth, driven by expanding renewable energy infrastructure and rising electric vehicle production.

A few global key market players are AMG; Aura Energy Ltd; Australian Vanadium Limited; Bushveld Minerals; EVRAZ plc; Glencore; HBIS Group; Largo, Inc.; Pangang Group Vanadium and Titanium Resources Co., Ltd.; and Vanadium Resources Limited.

Polaris Market Research has segmented the vanadium market report on the basis of grade type, application, and region:

By Grade Type (Revenue – USD Million, 2020–2034)

FeV40

FeV50

FeV60

Other

By Application (Revenue – USD Million, 2020–2034)

Steel

Non-Ferrous Alloys

Chemicals

Energy Storage

By Regional Outlook (Revenue – USD Million, 2020–2034)

North America

US

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America

Table of Contents

129 Pages
1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. US Surgical Dressings Market Insights
4.1. US Surgical Dressings Market – End User Snapshot
4.2. US Surgical Dressings Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising Investment in Healthcare Facility
4.2.1.2. Rising Hospital Admission
4.2.2. Restraints and Challenges
4.2.2.1. Raw Product Price Fluctuations
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. US Surgical Dressings Market End User Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. US Surgical Dressings Market, by Product
5.1. Key Findings
5.2. Introduction
5.2.1. US Surgical Dressings Market, by Product, 2020-2034 (USD Million)
5.3. Primary
5.3.1. US Surgical Dressings Market, by Primary, 2020-2034 (USD Million)
5.3.2. Foam Dressing
5.3.2.1. US Surgical Dressings Market, by Foam Dressing, 2020-2034 (USD Million)
5.3.3. Alginate Dressing
5.3.3.1. US Surgical Dressings Market, by Alginate Dressing, 2020-2034 (USD Million)
5.3.4. Others
5.3.4.1. US Surgical Dressings Market, by Others, 2020-2034 (USD Million)
5.4. Secondary
5.4.1. US Surgical Dressings Market, by Secondary, 2020-2034 (USD Million)
5.4.2. Absorbents
5.4.2.1. US Surgical Dressings Market, by Absorbents, 2020-2034 (USD Million)
5.4.3. Bandages
5.4.3.1. US Surgical Dressings Market, by Bandages, 2020-2034 (USD Million)
5.4.4. Others
5.4.4.1. US Surgical Dressings Market, by Absorbents, 2020-2034 (USD Million)
6. US Surgical Dressings Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. US Surgical Dressings Market, by Application, 2020-2034 (USD Million)
6.3. Diabetes related surgeries
6.3.1. US Surgical Dressings Market, by Diabetes related surgeries, 2020-2034 (USD Million)
6.4. Cardiovascular related surgeries
6.4.1. US Surgical Dressings Market, by Cardiovascular related surgeries, 2020-2034 (USD Million)
6.5. Ulcers
6.5.1. US Surgical Dressings Market, by Ulcers, 2020-2034 (USD Million)
6.6. Burns
6.6.1. US Surgical Dressings Market, by Burns, 2020-2034 (USD Million)
6.7. Transplant Sites
6.7.1. US Surgical Dressings Market, by Transplant Sites, 2020-2034 (USD Million)
6.8. Others
6.8.1. US Surgical Dressings Market, by Others, 2020-2034 (USD Million)
7. US Surgical Dressings Market, by End Use
7.1. Key Findings
7.2. Introduction
7.2.1. US Surgical Dressings Market, by End Use, 2020-2034 (USD Million)
7.3. Hospitals
7.3.1. US Surgical Dressings Market, by Hospitals, 2020-2034 (USD Million)
7.4. Specialty Clinics
7.4.1. US Surgical Dressings Market, by Specialty Clinics, 2020-2034 (USD Million)
7.5. Home Healthcare
7.5.1. US Surgical Dressings Market, by Home Healthcare, 2020-2034 (USD Million)
7.6. Ambulatory Surgery Centers
7.6.1. US Surgical Dressings Market, by Ambulatory Surgery Centers, 2020-2034 (USD Million)
7.7. Others
7.7.1. US Surgical Dressings Market, by Others, 2020-2034 (USD Million)
8. Competitive Landscape
8.1. Expansion and Acquisition Analysis
8.1.1. Expansion
8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
9.1. Smith + Nephew
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Recent Development
9.2. Mölnlycke Health Care AB
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Recent Development
9.3. Convatec Group PLC
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Recent Development
9.4. Essity
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Recent Development
9.5. DeRoyal Industries, Inc.
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Recent Development
9.6. Coloplast Corp
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Recent Development
9.7. 3M
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Recent Development
9.8. Integra Lifesciences
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Recent Development
9.9. Medline Industries, LP.
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Recent Development
9.10. Cardinal Health
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Recent Development
9.11. MIMEDX Group, Inc.
9.11.1. Company Overview
9.11.2. Financial Performance
9.11.3. Product Benchmarking
9.11.4. Recent Development
9.12. Urgo Medical North America
9.12.1. Company Overview
9.12.2. Financial Performance
9.12.3. Product Benchmarking
9.12.4. Recent Development

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