Vanadium - Global Strategic Business Report

The global market for Vanadium was estimated at US$2.8 Billion in 2024 and is projected to reach US$3.4 Billion by 2030, growing at a CAGR of 3.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Vanadium market.

Global Vanadium Market - Key Trends and Drivers Summarized

Vanadium is a scarce, tough, and malleable gray-white element that typically occurs combined in specific minerals. It is primarily utilized to manufacture various alloys. Due to a protective oxide film that forms on its surface, vanadium exhibits excellent resistance to corrosion.. The most prominent driver is its use in the steel industry, where vanadium is added to steel alloys to enhance their strength, hardness, and resistance to corrosion and extreme temperatures. This is particularly important in the construction and automotive sectors, which demand materials that can ensure safety and durability. The infrastructure development boom in emerging economies, along with increasing automotive production, especially in electric vehicles where strong, lightweight materials are essential, continues to push demand for vanadium-enhanced steel alloys.

Another significant growth area for vanadium is in energy storage solutions, specifically vanadium redox flow batteries (VRFBs). These batteries are gaining traction in the renewable energy sector because they offer several advantages over traditional batteries, including longer lifecycle, ability to scale easily, and safety in terms of non-flammability. VRFBs are ideal for grid storage applications, necessary to balance the intermittent nature of renewable energy sources such as solar and wind. With the global shift towards sustainable energy practices and the increase in utility-scale energy storage installations, demand for vanadium in this application is expected to surge, contributing to the metal`s market growth.

Technological advancements and innovations in extraction and processing methods are also vital trends shaping the vanadium market. Improved recovery methods have made it possible to extract vanadium more efficiently from various sources, including waste materials from steel mills and slag from coal. Environmental regulations and the push towards reducing industrial waste are further accelerating these technological innovations, making vanadium recovery more sustainable and cost-effective. As a result, these advancements not only increase the supply side of the vanadium market but also support its growth by promoting wider applications in various industries, ensuring a stable and potentially lower-cost supply chain.

SCOPE OF STUDY:

The report analyzes the Vanadium market in terms of units by the following Segments, and Geographic Regions/Countries:

• Segments: Grade (FeV80 Grade, FeV60 Grade, FeV50 Grade, FeV40 Grade); Application (Iron & Steel Application, Chemical Application, Energy Storage Application, Titanium Alloys Application, Other Applications)
• Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the FeV80 Grade segment, which is expected to reach US$1.8 Billion by 2030 with a CAGR of a 3.9%. The FeV60 Grade segment is also set to grow at 3.3% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $744.0 Million in 2024, and China, forecasted to grow at an impressive 6.6% CAGR to reach $703.2 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Vanadium Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Vanadium Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Vanadium Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as LE System Co., Ltd., ABCR GmbH & Co., KG., Advanced Engineering Materials Ltd., Advanced Material Process Corporation, Australian Vanadium and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 32 companies featured in this Vanadium market report include:

• LE System Co., Ltd.
• ABCR GmbH & Co., KG.
• Advanced Engineering Materials Ltd.
• Advanced Material Process Corporation
• Australian Vanadium
• Bushveld Minerals
• Cellcube
• CRONIMET
• ESPI Metals
• Eutectix, LLC

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.