December 20, 2019
According to the research report titled ‘Ammonium Metavanadate Market Size By Form (Powder, Granule), By Purity (98% - 99%, Minimum 99%), By Application (Chemical Reagent, Catalyst, Paints, Inks & Dyes, Ceramics), Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global ammonium metavanadate market is projected to exceed USD 85 million by the year 2025.
Ammonium metavanadate products are extensively used as a raw material to produce ceramic glazes and colorants. Ceramic tiles & sanitaryware are an integral part of the construction sector. The thriving construction sector owing to urban population growth & industrialization is the major factor driving ammonium metavanadate market growth.
Moreover, significant economic growth, favorable government policies to develop the infrastructure sector and substantial investment in telecommunication facilities would be the key driving factors for product adoption in the ceramic industry.
Ammonium metavanadate products come in powder form and granule form. The power form products are widely used as catalysts to reduce environmental emissions and production costs in the automotive and electrical & electronics sectors. Moreover, it is also used as a catalyst to improve yield, cost-effectiveness, and rate of chemical reactions at room temperature. Booming chemical industry owing to rising demand for plastics and rubber would accelerate the demand for ammonium metavanadate products as a catalyst. The study suggests that powder ammonium metavanadate market is expected to exceed USD 65 million by the year 2025.
Regionally, Europe ammonium vanadate market led by France, UK, and Germany is anticipated to surpass USD 24.5 million by the year 2025, owing to surging demand for glass as a packaging material from the regional beverage segment. The product enhances the functionality of glass by imparting yellow coloration and imparting UV & infrared resistance. Increasing customer awareness regarding the sustainable nature of packaging glass and surging deployment of solar products to boost energy efficiency would further accelerate regional market growth.
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The product plays a pivotal in the production of pigments and dyes to increase the drying rate. Increasing adoption of digital print technology has supported the product requirement for dyes & printing inks, which would stimulate market growth in the forthcoming time. Moreover, the product also finds application in textile industry. According to the report, global ammonium metavanadate market demand from inks & dyes and paints segment is expected to grow by 6% over the forecast period.
Strem Chemicals, ACS Chemicals, Merck, Thermo Fisher Scientific, American Elements, and Motiv Metals are currently at the forefront of the industry. Companies operating in this segment are engaged in strategic acquisitions to increase their product portfolio to tap major market share.
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