Vanadium is a very hard metal which is light silvery in color, brittle, and stable in dry air at room temperature. It ranks seventeenth among the metals available in the earth’s crust but is considered to be rare as it is present in a dispersed form and its extraction and mining is very costly. Vanadium is not found in the elemental state but in a chemically combined form.
Vanadium
compounds can be classified into the following segments: oxides, pentoxides,
sulphates, and vanadates. They are present in various forms such as liquid,
hydrous cake, and powder. Vanadium salts (potassium metavandate, ammonium
polyvanadate, and sodium metavanadate) and solutions display highly selective
catalytic features. Vanadium oxide, when doped with tungsten, has been examined
for use as a “spectrally-selective” window coating to block infrared
transmission and reduce the harm of building inner heat through windows.
Vanadium pentoxide is used as a catalyst for sulphuric acid production, as a
pigment, and in batteries. The vanadates include ammonium metavanadate,
potassium metavanadate, and sodium metavanadate which find application in
various fields. For instance, ammonium metavanadate is used as a synthetic
catalyst for organic acids & in denitrification and as a corrosion inhibitor
& a pigment. Potassium metavanadate is used as a corrosion inhibitor and a
catalyst in desulfurization and denitrification. Sodium metavanadate is used as
a pigment, catalyst in desulfurization, and corrosion inhibitor.
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On the
basis of application, the vanadium
compounds market can be segmented into the following sectors: chemical
catalysts, pharmaceuticals, pigments, and glaze. Vanadium compounds are used as
catalysts for the oxidation of sulphur dioxide. Vanadium pentoxide is an
excellent catalyst used in the contact process for the production of sulphuric
acid – an important process in the chemical industry. Vanadium compounds are
testified to exhibit insulin-enhancing properties when administered orally.
Gastrointestinal absorption of vanadium is usually poor and depends on the
chemical nature & solubility. These compounds are also employed in the
pigments, ceramic, and paints industries. Ammonium metavanadate and sodium
vanadate are responsible for the color of ceramic tiles and containers. Bismuth
orthovanadate is a temperature-resistant yellow pigment employed in varnishes
and plastics.
The main
driver for the vanadium compound market is the industrial catalytic sector. For
instance, these compounds are used in the production of sulfuric acid using the
contact process. The paints and ceramic industries also employ sodium vanadate
and sodium metavanadate. Vanadium oxide is used for glass coatings, while
vanadates offer protection to steel against corrosion and rust as well. All
these factors drive the market.
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Environmental
and health hazards including eye, nose, and throat infections act as a barrier
for the vanadium compound market. Other ill-effects include damage to nervous
system and carcinogenic diseases. Vanadium compounds can cause inhibition to
the enzymes in animals and in certain cases, lead to cancer.
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The market
for vanadium compounds is distributed over North America, Europe, Asia Pacific,
and Middle East & Africa. The market of Asia Pacific is dominant, followed
by Europe and North America. Demand for vanadium compounds is on rise in Asia
Pacific due to the region’s burgeoning chemical industry. China possesses
immense vanadium mines; therefore the vanadium compound market in this country
is anticipated to expand. Brazil is another significant market due to the
industrial activities in this country.
Key
players in the vanadium market include Treibacher Industries AG, Shinko
Chemical, V-PubChem, Yogi Dye Chem, Forbes Pharmaceuticals, and Oxkem Limited.
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