Global Ammonium Metavanadate Market Revenue to Exceed USD 85 Million by 2025
Selbyville, Delaware, United States, September 24 2020 (Wiredrelease) Global Market Insights, Inc –:According to the latest report “Ammonium Metavanadate Market By Form (Powder, Granule), Purity (98% – 99%, Minimum 99%), Application (Chemical Reagents, Catalysts, Paints, Inks & Dyes, Ceramics), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2025″ in detail along with the table of contents”, by Global Market Insights, Inc., the worldwide ammonium metavanadate market will reach a valuation of over US$85 million by 2025.
Germany ammonium metavanadate market estimated at USD 1.1 million in 2018 and should witness significant growth by the end of 2025 as the product finds extensive adoption in the domestic glass industry as a pigment and for absorption of ultraviolet & infrared radiation.
The global ammonium metavanadate granules market witnessed a consumption of over 670 tons in 2018. Growing requirements for catalysts that 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.
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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.
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 have 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.
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