Global Ferrovanadium Market report from Global Insight Services is the single authoritative source of intelligence on Ferrovanadium Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Ferrovanadium is a vanadium-iron alloy with a vanadium content of 35-85%. It is used as an additive in the production of steel and other alloys to impart strength and hardness. The addition of ferrovanadium to steel also increases its resistance to wear and corrosion.
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Key Trends
The key trends in ferrovanadium technology are:
1. Increasing demand for ferrovanadium: The global demand for ferrovanadium is increasing due to the growing steel industry. This is especially true in emerging markets such as China and India.
2. Innovation in production methods: There has been significant innovation in the production of ferrovanadium. This includes the development of new reduction methods and the use of alternative raw materials.
Key Drivers
The key drivers of the ferrovanadium market are the increasing demand for vanadium-based alloys in the steel industry and the growing popularity of vanadium redox flow batteries (VRFBs) in the energy storage sector.
The steel industry is the largest consumer of vanadium, accounting for about 85% of global demand. Vanadium-based alloys are used to improve the strength and toughness of steel, making it ideal for use in construction, transportation, and other applications.
Market Segments
By Grade
- FeV 40
- FeV 50
- Fev 60
By Production Method
- Aluminothermic Reduction
- Silicon Reduction
By End Use
- Aerospace
- Automotive & Transport
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Key Players
- EVRAZ
- AMG Advanced Metallurgical Group
- Treibacher Industrie AG
- Hickman, Williams & Company
- Masterloy Products Company
- Jinzhou Guangda Ferroalloy Co. Ltd.
- Reade International Corp.
- Bear Metallurgical Company
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