Vanadium Trioxide Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC647

Introduction

Vanadium trioxide is a black crystalline solid and slightly soluble in water. Naturally, vanadium trioxide occurs as the mineral karelianite, whereas, artificially, during the combustion of residual oils organovanadium compounds which are found in fuel oils and are oxidized & transformed into different vanadium compounds. It is high-purity product and used in a range of applications. Vanadium trioxide is commonly used as a catalyst in production of other chemicals, gas processing, coloring compounds, and dye fixants. Along with this, it is used as an electrode in lithium ion batteries and in coating of carbon nanotubes. However, it is highly toxic if swallowed, inhaled, or absorbed through skin. Vanadium trioxide ignites upon heating in air and undergoes slow air oxidation at room temperature.

Market Dynamics

The major market drivers include its growth in use particularly in industrial catalytic sector. Increase in the use of vanadium trioxide in lithium ion batteries is anticipated to drive the demand throughout the forecast period. Several companies and research organizations are involved in research & development of vanadium trioxide which is driving the growth of global vanadium trioxide market. This research & development activities related to vanadium trioxide are increasing the use of this component in novel applications. This in turn, is projected to be one of the significant opportunities for key players in this market. The health hazards associated with the use of vanadium trioxide such as throat & eye infection and irritation to skin is expected to hamper the market growth over the forecast period.

Market Classification and Overview

The global vanadium trioxide market is bifurcated on the basis of application and geography. On the basis of application, the market is categorized into petrochemical, superconducting, metallurgy, and others.

Regional Overview

The market for vanadium trioxide is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). Asia-Pacific was the major contributors to the growth of vanadium trioxide market in 2016 owing to the expanding chemical industries in this region. Europe is also anticipated to hold a significant share in the global market followed by North America. Latin America, Middle-East, and Africa are other significant markets owing to the growth in numerous industrial activities in these regions.

Report Coverage

Market

Vanadium Trioxide Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

Application, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

Market Participants

VanadiumCorp Inc., HBIS Group, EVRAZ plc, Hunan Hanrui New Material Technology Co. Ltd., Shinwa Bussan Kaisha Ltd., ABSCO Limited, Talantic Limited, American Vanadium, Glencore plc, and Australian Vanadium are the key players in the vanadium trioxide market. These players have adopted new product launches, expansion, and acquisition with local as well as established players.

Market Segmentation

Market By Application

  • Petrochemical
  • Superconducting
  • Metallurgy
  • Others

Market By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

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