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Vanadium Pentoxide Market: Overview

Vanadium pentoxide is an inorganic compound with formula V2O5. It is brown/yellow solid, and when freshly precipitated from aqueous solution, the color turns to deep orange. It is the most important compound of vanadium as per commercial perspective, being the principal precursor to alloys of vanadium and is a widely used industrial catalyst. In 1925, relatively pure vanadium was obtained by reducing vanadium pentoxide with calcium metal. Raw materials used to produce vanadium pentoxide include titanomagnetite ores and their concentrates which are processed directly, vanadium slags derived from ores, oil combustion residues, spent catalysts, and residues from the hydrometallization process. Primary industrial compounds manufactured directly from these raw materials are 98% (by weight) fused pentoxide, air-dried (technical-grade) pentoxide, and technical-grade ammonium metavanadate.

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Vanadium Pentoxide Market: Drivers & Restraints

Alkaline roasting is the main process used to produce vanadium pentoxide from vanadium slags. This process, with minor differences, can also be used to processes titanomagnetite ores and vanadium-containing residues. The slag is first ground to <100 µm and the iron granules are removed. Alkali metal salts are added and roasted with oxidation at temperatures between 700°C & 850°C in multiple-hearth furnaces or rotary kilns to form water-soluble pentavalent sodium orthovanadate. The roasted product is percolated with water and ammonium polyvanadate or sparingly-soluble ammonium metavanadate are precipitated in the crystalline form from the alkaline sodium orthovanadate solution by adding sulfuric or hydrochloric acid and ammonium salts at high temperatures. These compounds are converted to high-purity, alkali-free vanadium pentoxide by roasting. The commercial ‘flake’ form of vanadium pentoxide is obtained from the solidified melt. Hydrometallurgical methods or a combination of pyrometallurgical and hydrometallurgical processes are used to produce vanadium oxides and salts from other raw materials. Uranium production from carnotite and other vanadium-bearing ores also yield significant amounts of vanadium pentoxide.

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Vanadium Pentoxide Market: Key Players

Key players operating in the vanadium pentoxide market include Aura Energy, Australian Vanadium Limited, Largo Resources Ltd., Bushveld Minerals., Prophecy Development Corp., and Premier Alloys & Chemicals Pvt. Ltd.