Revenue generation in the ferrovanadium market stems from the demand for the alloy in steel industry. Rise in application of a wide range of steel products around the world in various industries will add momentum to the demand and consumption during the forecast period of 2020 – 2030. Ferrovanadium alloys are a varying combination of iron and vanadium-- 35% to 80%-- and has been a key additive in the production of steel. Their addition can alter or improve vast range of physical and chemical characteristics of the produced steel. Tensile strength, conductivity, and resistance to extreme temperatures and forces of corrosion are key properties that ferrovanadium improve, which has spurred its use in applications as diverse as coating and reinforcement.