Covina, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Ammonium Metavanadate is a white or yellow, clear crystalline sand-like powder which are used in inks, dyes, reagent, as a photographic developer and in varnishes and paints. They also help in catalyzing the synthesis of azalactone and octahydroquinazolinone derivatives.
Growing adoption of ceramics in construction sector has contributed in target market growth. Wide utilization of ammonium metavanadate as a transitional chemical for various industries has further, facilitated the demand for market growth. Furthermore, growing need in forensic applications for detection of harmful drugs is anticipated to increase the demand for Ammonium Metavanadate market growth.
Analyst View:
Increase in production and consumption of ammonium metavanadate across industries has become a leading factor in target market growth. Various beneficial properties such as high electrochemical performance related to sodium with excellent rate and reversible capacity is expected to fruitful the demand for Ammonium Metavanadate market growth.
Region Analysis:
The Asia Pacific ammonium metavanadate market is expected to increase significantly due to rising production and consumption in China. Growing demand for new applications is also increasing the value of this regional market's revenue sources. Europe, on the other hand, has demonstrated significant economic potential and has seen various pathways open up in recent years. Extensive demand in the glass industry and expanding application as a catalyst in the textile industry are two trends that have made the possibilities extremely lucrative. The United States has been a significant market in North America.
Order free Sample Copy of the Report:
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/1444
Product:
- The inorganic compound ammonium metavanadate has the formula NH4VO3. It is a white solid, yet samples are frequently yellow due to V2O5 impurities. Ammonium metavanadate is the most commonly used commercially for vanadium purification. It is also utilised in alloys and as a steel additive. Ammonium metavanadate is also utilised as a catalyst in the production of organic intermediates of nylon, polyester resins, and other synthetics, as well as in the colouring of leather and fur.
Segmentation:
- Based on Product Type-Global Ammonium Metavanadate Market is segmented into Powder and Granule.
- Based on Application-Global Ammonium Metavanadate Market is segmented into Chemical Reagents, Catalyst and Others.
- By Region- the Global Ammonium Metavanadate Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Request Free Pdf copy of the report:
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/1444
Competitive Landscape & their strategies of Global Ammonium Metavanadate Market:
The key players operating in the Global Ammonium Metavanadate Market includes,
- Merck KGaA
- Strem Chemicals Inc
- MoTiV Metals LLC
- American Elements
- Thermo Fisher Scientific Inc
Request Customization:
https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/1444
Key opportunities in the Ammonium Metavanadate market:
- Growing Demand in Chemical Industry: Ammonium Metavanadate is a crucial component in the production of catalysts for chemical reactions. As the chemical industry continues to expand, the demand for Ammonium Metavanadate is likely to increase.
- Renewable Energy Sector: Ammonium Metavanadate is used in vanadium redox flow batteries, which are increasingly being adopted for energy storage in renewable energy systems. With the shift towards sustainable energy solutions, there is a significant opportunity for growth in this segment.
- Electronics and Semiconductor Industry: The electronics sector relies on Ammonium Metavanadate for the production of high-purity vanadium chemicals used in electronic applications. With the constant advancement in electronics, there is a steady opportunity for Ammonium Metavanadate in this market.
- Agricultural Applications: Ammonium Metavanadate is used as a micronutrient in agriculture, particularly in preventing diseases in crops. As global agriculture strives to improve yield and crop quality, there is potential for increased usage of Ammonium Metavanadate.
- Research and Development: Ongoing research in material science and chemistry may uncover new applications for Ammonium Metavanadate, creating opportunities for companies to innovate and expand their product offerings.
Browse Other Related Research Reports from Prophecy Market Insights:
- White Oil Market - Trends, Analysis and Forecast till 2032
- Butyl Glycol Market - Trends, Analysis and Forecast till 2032
- Phosphorus Acid Market - Trends, Analysis and Forecast till 2032
About Prophecy Market Insights:
Prophecy Market Insights is a leading provider of market research services, offering insightful and actionable reports to clients across various industries. With a team of experienced analysts and researchers, Prophecy Market Insights provides accurate and reliable market intelligence, helping businesses make informed decisions and stay ahead of the competition. The company's research reports cover a wide range of topics, including industry trends, market size, growth opportunities, competitive landscape, and more. Prophecy Market Insights is committed to delivering high-quality research services that help clients achieve their strategic goals and objectives.
Blog: www.prophecyjournals.com
Follow us on:
LinkedIn | Twitter | Facebook |YouTube
