The Business Research Company’s Vanadium Ore Global Market Report 2021: COVID 19 Impact And Recovery To 2030
LONDON, GREATER LONDON , UK, August 13, 2021 /EINPresswire.com/ — According to the new market research report ‘Vanadium Ore Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the vanadium ore market is expected to grow from $1.49 billion in 2020 to $1.6 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.36 billion in 2025 at a CAGR of 10.2%. The increasing use of vanadium in the automobile industry will drive the vanadium ore mining market.
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The vanadium mining market consists of sales of vanadium ores and concentrates and related services.
Trends In The Global Vanadium Ore Market
The use of vanadium redox flow batteries (VRFBs) for energy storage is an emerging trend market. This trend will drive a structural change in the vanadium ore mining market dominated by steel manufacturers. For example, in 2020, Nusaned Investment, a Saudi Arabia based investment company owned by SABIC, entered in joint venture with, Germany based technology group, SCHMID Group to focus on manufacturing and technology development in the field of VRFBs.
Global Vanadium Ore Market Segments:
The global vanadium ore market is further segmented based on type, application, end use industry and geography.
By Type: FeV40, FeV50, FeV60, FeV80
By Application: Iron & Steel, Chemical, Energy Storage, Others
By End Use Industry: Automotive, Aerospace And Defense, Steel Industry, Others
By Geography: The global vanadium ore market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Vanadium Ore Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides vanadium ore global market overviews, analyzes and forecasts market size and growth for the global vanadium ore market, vanadium ore market share, vanadium ore global market players, vanadium ore global market segments and geographies, vanadium ore market’s leading competitors’ revenues, profiles and market shares. The vanadium ore market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Vanadium Ore Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Vanadium Ore Market Organizations Covered: AUROX RES., Atlantic, Treibacher Industrie AG., Essel Mining and Tremond Alloys & Metals Corp.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Interested to know more about The Business Research Company?
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Vanadium Ore Global Market Report 2021:
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