The ammonium metavanadate is a chemical intermediate and is widely used in various end-user industries. Ammonium metavanadate is very ideal as a reagent in the laboratory & analytical chemistry. It serves as a forerunner of various medicinal agents owing to its low cost, mild reaction conditions, high yield & operational simplicity. It is usually used for the production of catalysts for organic & inorganic synthesis. Compounds including manganese vanadate, silver vanadate, and vanadium oxide are synthesized using ammonium metavanadate. The compound is soluble in water and is in the form of powder and granules and is white or pale yellow in color. Ammonium metavanadate is widely used as a chemical intermediate for various elements and compounds of industrial or commercial utility.
Ammonium metavanadate generally finds application in the commercial synthesis of silver vanadate, manganese vanadate, and vanadium oxide because it is commonly used as a reagent, intermediate or substrate. It is extensively used to produce the Mandelin reagent that finds widespread usage in the detection of dangerous drugs for instance PMMA, PMA and psychoactive substances. The product gives the reagent a yellow color which changes when the reagent is added to a sample containing an alkaloid, and thus serves as a useful kit for the detection of various substances.
As per analysis, “Global Ammonium Metavanadate Market, 2021-2027” the key companies operating in the global ammonium metavanadate market include Vietnam Youngsun Tungsten Industry Co., Ltd., Largo Resources Ltd, Hunan Chuangda Vanadium Tungsten Co. Ltd., Nanyang Handing High-tech Materials Co. Ltd., U.S. Vanadium LLC, Ferro-Alloy Resources Limited, Angang Steel Company Limited, Shaanxi Huayuan Mining Industry Co., Ltd., Taiyo Koko Co., Ltd., Bushveld Vanchem Ltd., Chengde Chenggang Zhuyu Vanadium and Titanium Co., Ltd. and among others.
Rise in utilization of the inorganic compound in the steel industry, followed by growth in paint & coating sector and increase in application in illicit drug testing are some major factors, which are responsible for growth of the Ammonium Metavanadate Market. In addition, the wide applicability of ammonium metavanadate in the manufacture of almond reagent, which is widely used in the detection of dangerous drugs, is another factor that is predicted to sustain the growth of the target market. Governments around the world are spending heavy spending on the healthcare sector, the development of regulatory scenarios and rapid advances in laboratory chemicals are among other important factors that are probable to impel the growth of the target market. However, possibility for adverse health effects is a major hindering factor for market.
Based on regional analysis, the North-America is a leading region in global ammonium metavanadate market owing to rise in demand form paint industry and presence of large number of players across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to rise in application in the textile industry and growth in production & consumption over the forecast period. It is projected that global ammonium metavanadate market will be reached at rapid pace as a result of growth in adoption of rechargeable sodium-ion batteries concerning to increasing inclination for the energy efficiency and extensive demand from glass industry during the forecast period.
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Global Ammonium Metavanadate Market Size 2021-2027
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