Ammonium Metavanadate Market By Type (Powder Product, Granule Product) By Application (Chemical Reagent, Catalyst) and Region - Global Forecast 2026
24th December 2018
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global ammonium metavanadate market is estimated to value at approximately US$ 53 Mn in 2018, and is expected to register a CAGR of 6.0%. The report offers in-depth insights, revenue details, and other vital information regarding the global ammonium metavanadate market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2028. The global ammonium metavanadate market report has been segmented on the basis of product type, application, and region/country.
Global Ammonium Metavanadate Market: Introduction
Ammonium metavanadate (NH4VO3) is a water soluble inorganic compound. Ammonium metavanadate appears to be white or pale yellow crystalline powder and is an important intermediate for vanadium purification.
Global Ammonium Metavanadate Market: Dynamics
Increasing adoption of ammonium metavanadate as a catalyst for organic and synthesis is a key factor expected to drive growth of the global market over the forecast period. In addition, rising adoption of ammonium metavanadate for mandelin reagent, owing to frequent use of testing for drugs such as marijuana, cocaine, opiates, and amphetamines is another factor expected to further fuel growth of the target market over the forecast period.
Furthermore, increasing demand for ammonium metavandate across ceramic industry, owing to rising ongoing construction projects and activities, especially in developing countries such as India and China is another factor expected to boost growth of the global ammonium metavanadate market over the forecast period.
However, some hazardous health effects such as cause of cancer, lung irritation, asthma-like allergy, skin rashes, dryness, and redness after long-time exposure to ammonium metavanadate are some factors expected to restrain growth of the global market over the forecast period. In addition, potential dangers associated with ammonium metavanadate may hamper growth of the target market over the forecast period.
Ongoing trend observed in the market is rising preference towards renewable sources for energy generation is expected to result in rising demand for rechargeable sodium-ion battery based on ammonium metavanadate that have high capacity, long life, and good rate capability. This trend is expected to support growth of the target market over the forecast period.
Increasing development of cost-effective production processes and rising investment for research and development activities by manufacturers in order to reduce end-product costs, and will help to expand revenue share in markets across the globe are expected to create potential revenue opportunities for player operating in the target market over the forecast period.
In addition, increasing acquisition, merger, joint venture, and collaboration activities among manufacturers in order to improve their product portfolio and expend their global presence are among some other factors expected to support growth of the market.
For instance, in November 2015, Merck KGaA acquired US-based Sigma-Aldrich Corporation, which develops, manufactures, purchases, and distributes various chemicals, biochemicals, and equipment products globally. Objective of this acquisition was to bring together the products and services, innovative capabilities, and talent of Merck Millipore and Sigma-Aldrich in order to create a global leader in the life sciences industry.
Global Ammonium Metavanadate Market Analysis, by Product Type
On the basis of product type, the market is segmented into powder and granule. Currently, the powder segment dominates in the global market in terms of revenue and is expected to maintain its dominance over the forecast period. Granule segment is estimated to register fastest growth over the forecast period.
Global Ammonium Metavanadate Market Analysis, by Application
Based on application, the global market is segmented into chemical reagents, catalyst, and others. The chemical reagents segment accounts for maximum share and is expected to continue to grow at the same rate over the forecast period.
Global Ammonium Metavanadate Market Analysis, by Region/Country
Market in China is expected to register the fastest growth in terms of revenue, in the global ammonium metavanadate market in 2018. In addition, rising adoption of renewable resources for energy generation coupled with increasing investments towards research and development of rechargeable batteries such as sodium-ion battery and lithium-ion battery based on ammonium metavanadate, owing to its high capacity, durability, and long life-cycle are some ongoing trends currently observed in the target market in China.
The market in Europe is expected to register second-highest share in terms of revenue over the forecast period, owing to increasing adoption of ammonium metavanadate in glass industry as pigment and for absorption of ultraviolet or infrared light. In addition, use of ammonium metavanadate as a catalyst in dyeing of leather and fur, owing to increasing preference towards such materials among consumers and from textile industry, coupled with growing disposable income, and rising spending capacity of individuals are some other factors expected to support growth of the target market in this region over the forecast period.
The market in US is expected to register steady growth in terms of revenue over the forecast period, owing to presence of prominent manufacturers and suppliers such as Thermo Fisher Scientific Inc., American Element, Strem Chemicals, Inc. and others in the country, coupled with increasing research and development initiatives for electric energy storage applications are some other factors expected to support growth of the ammonium metavanadate market in the US over the forecast period.
Market Segmentation of Global Ammonium Metavanadate Market:
Segmentation by Product Type:
- Powder Product
- Granule Product
Segmentation by Application:
- Chemical Reagent
Segmentation by Region/Country:
- Southeast Asia
- Rest of the World
- Strem Chemicals, Inc.
- Merck KGaA
- MoTiV Metals LLC
- American Elements
- Thermo Fisher Scientific Inc.
- Chapter 1 Preface
- 1.1 Report Assumptions
- 1.2 Research Methodology
- 1.3 Abbreviations
- Chapter 2 Market Overview
- 2.1 Market Definition & Scope of the Report
- 2.1.1 Market Definition
- 2.1.2 Scope of the Report
- 2.2 Market Analysis, by Product Type
- 2.2.1 Powder Product
- 2.2.2 Granule Product
- 2.3 Market Analysis, by Application
- 2.3.1 Chemical Reagents
- 2.3.2 Catalyst
- 2.3.3 Others
- 2.1 Market Definition & Scope of the Report
- Chapter 3 Global Ammonium Metavanadate Market, by Region/Country
- Chapter 1 Preface
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