Ammonium Metavanadate Market Size worth $85mn by 2025
Published Date: October 17, 2019 Authors: Kunal Ahuja, Kritika Mamtani
Ammonium Metavanadate Market size is poised to surpass USD 85 million by 2025; according to a new research report by Global Market Insights, Inc.
Ammonium metavanadate refers to a pale yellow to white crystalline substance which primarily finds use as a lab reagent or to produce catalysts for chemical synthesis. It is water-soluble, denser than water and toxic to the skin. This product finds widespread use as a substrate in the manufacture of manganese & silver vanadate and vanadium oxide.
Ammonium metavanadate granules market to witness significant gains
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Global ammonium metavanadate granules market witnessed a consumption of over 670 tons in 2018. Growing requirements for catalysts which reduce industrial manufacturing costs and emissions should fuel the requirement for ammonium metavanadate granules. These granules are efficient & mild catalysts pertaining to their cost effectiveness, acidic properties, water solubility and ability to work at room temperature which ensures sustainable energy usage.
These granules offer the capability to neutralize bases, reduce pH and minimize heat generation which makes them ideal for chemical applications. Global chemical industry size exceeded USD 4 trillion in 2018 which represents ample growth opportunities for granules segment. Booming chemical industry owing to significant demand from plastics, rubber, electronic appliances and electrical sectors should drive the market growth.
Browse key industry insights spread across 155 pages with 222 market data tables and 20 figures & charts from the report, “Ammonium Metavanadate Market Size By Form (Powder, Granule), By Purity (98% - 99%, Minimum 99%), By Application (Chemical Reagents, Catalysts, Paints, Inks & Dyes, Ceramics), Regional Outlook, Price Trends, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
98% - 99% of ammonium metavanadate purity to observe considerable gains
98% - 99% of ammonium metavanadate purity plays a vital role in producing metallic vanadium and vanadium compounds from natural titano-magnetite ores. Vanadium inclusion in steel imparts corrosion & heat resistance, improves its toughness and strength. Growing vanadium adoption in ferrous & non-ferrous alloys from building & construction, automotive and aerospace sectors should accelerate the market growth of 98% - 99% purity product.
98% - 99% purity helps produce vanadium pentoxide of much higher purity as compared to other manufacturing processes. High purity vanadium pentoxide imparts excellent charging & discharging performance in redox-flow batteries, improves capacity by 9% and enhances cycling stability. Rising environmental awareness has stimulated the demand for electric vehicles which require vanadium flow batteries to provide stable power backup. Global electric vehicle market size is predicted to surpass USD 565 billion by 2025 which indicates tremendous growth potential for 98% - 99% of ammonium metavanadate purity market.
Ceramic applications to continue strong growth
Ammonium metavanadate is essential for the manufacture of ceramic dyes and glazing. Global ammonium metavanadate market size from ceramics applications should surpass USD 15 million by 2025 owing to growing adoption of dental implants & technological advancement in 3D printing. Ceramics offer biological inertness, low wear rates and toughness which makes them suitable for producing dental implants thus boosting the market growth.
This product is widely used to produce colors for ceramic tiles. India, Singapore and Spain have increased infrastructure spending and have launched smart city projects which has resulted in significant demand for ceramic sanitary ware & tiles. In September 2019, India announced plans to expand its Smart Cities Mission to all 4,000 cities across the country which is an indicator of healthy growth opportunities for the market.
Glass paints growth in Germany to trigger ammonium metavanadate demand
Germany ammonium metavanadate market size surpassed USD 1.1 million in 2018 and should witness significant growth by the end of 2025. It finds extensive adoption in the domestic glass industry as a pigment and for absorption of ultraviolet & infrared radiation. Germany per capita consumption of container glass surpassed 50 kilos in 2018 pertaining to increasing consumer preference for sustainable packaging materials.
Growing requirement of eye wear, lenses and medical equipment owing to the presence of a significant elderly population segment should fuel optical glass demand. Optical glass requires UV protection coatings to prevent vision loss from exposure to ultraviolet radiation which should stimulate the market demand.
Certain manufacturers offer a diverse product portfolio consisting of various purities to cater to specific requirements and attract additional customers. The major ammonium metavanadate market participants include Yogi Dye Chem, Thermo Fisher Scientific, Merck KGaA, Santa Cruz Biotechnology, Avanschem, ACS Chemicals, GfE, Motiv Metals, Strem Chemicals, American Elements and Sisco Research Laboratories.