Vanadium Alloy Market: Overview
Vanadiumis a silvery-grey metal produced in four countries: Brazil, South Africa,China, and Russia. The metal can be obtained by separating it from about 65minerals such as patronite, roscoelite, carnotite, vanadinite, and mottramite.It can also be obtained from coal and petroleum. Vanadium possesses goodstructural strength. It is also ductile and harder than most metals, includingsteel. It is also resistant to corrosion. The chemical properties of vanadiumact as major drivers of the vanadium alloy market. However, the market also hasa few restraints. Difficulty in extraction of vanadium and its availability ina limited number of countries are hampering the vanadiumalloy market.
Vanadium Alloy Market: Key Segments
The globalvanadium alloy market can be segmented based on type, end-user industry, andregion. Based on type, the vanadium alloy market can be divided intoferrovanadium, vanadium titanium, vanadium pentoxide, and others. Ferrovanadiumis an alloy of vanadium and iron. Most of vanadium is used to manufactureferrovanadium, which is further employed in the manufacture of steel.Ferrovanadium strengthens steel, so that the latter can be used in wide rangeof applications such as automobiles and pipelines. Another important vanadiumalloy is vanadium titanium. This alloy is stronger than commercially puretitanium, while having the same thermal properties and stiffness as titanium.Its ability to withstand extreme temperatures makes it an important component inindustries such as aerospace. Vanadium oxidizes at around 660°C to becomevanadium pentoxide. It does not absorb neutrons easily; hence, it is employedin nuclear power and energy storage batteries. Other vanadium alloys includechromium-based vanadium alloys.
RequestSample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=57393
Based onend-user industry, the vanadium alloy market can be segregated into transport,chemicals, energy, and others. Vanadium alloy is used in automotives, ships,and aircraft in the transport segment to reduce their weight and increaseefficiency, while simultaneously making them stronger. Corrosion-resistantproperties of vanadium alloy make it ideal for usage in tubes and pipes tocarry chemicals. However, key usage of vanadium alloy is likely to be in theenergy industry. It can be employed in a wide range of environment-friendlypower generation and storage technologies, viz. nuclear power generation andvanadium redox flow batteries, respectively. Concerns regarding global warmingand climate change have increased over the last few years. Governments arepromoting the use of environment-friendly energy technologies. Vanadium redoxflow battery is one such technology. Vanadium alloy is used for large scaleenergy storage applications. Certain countries such as Japan have staredadopting vanadium-based energy storage technologies on a large scale.
MoreTrending Reports
Vanadium Alloy Market: Regional Outlook
Based onregion, the vanadium alloy market can be classified into North America, LatinAmerica, Europe, Asia Pacific, and Middle East & Africa. Developed countriessuch as the U.S., U.K., Japan, and Germany have been the first countries toadopt vanadium alloy based applications. However, developing countries such asIndia, China, and Brazil have realized the importance of vanadium alloy and arepromoting its usage.
Vanadium Alloy Market: Key Players
Keyplayers operating in the global vanadium alloy market include Tremond MetalsCorp., Core Metals Group, Bushveld Minerals, Bear Metallurgical Company, andGulf Chemical and Metallurgical Corporation.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=57393<ype=S
