Roskill’s latest vanadium report provides an in-depth look at an industry for which little information is publically available. With thorough coverage of historical trends and detailed ten-year forecasts, it is the most comprehensive vanadium report on the market. The Market Outlook to 2026 provides analysis of supply, demand, trade, and prices, complete with detailed historical and forecast data, geared specifically to the needs of industry participants, traders and investors.
In terms of supply, Roskill presents a breakdown of vanadium production, not just in terms of overall production – but by production stage. Crucially, in light of the recent closure of Evraz Highveld in South Africa, the report provides a breakdown of the supply and availability of feedstock, pentoxide and ferrovanadium, broken down by country, and by producer.
With feedstock coming from three different sources (primary production, co-production and secondary production), the market for vanadium is dynamic and diverse, and the effects of any shocks to the system, such as the sudden suspension of a major mine, are not clear-cut. This report shows the surplus capacity available in a number of countries around the world and how the picture of feedstock supply will change after Evraz Highveld’s closure.
Roskill’s World Market for Vanadium is available with a 10-year outlook for world supply. The basis of these forecasts is a detailed industry analysis, covering supply for each country – alongside an overview of the specific features of the industry in each location – as well as an extensive appendix covering all the major producers worldwide with details on capacity, production, resources and reserves, and expansion plans.
On the demand side, Roskill’s updated study provides a full breakdown of demand for vanadium by its various applications. Steel applications account for approximately 91% of total consumption. High-strength low-alloy (HSLA) steels are by far the largest market for vanadium and consumption in this application has benefited from increasingly stringent building requirements, particularly in China, which has resulted in the use of larger quantities of vanadium-bearing rebar.
This new addition includes more detailed analysis of vanadium in batteries, which has been slated as a potential growth market. Roskill’s vanadium report includes a focused chapter dedicated to the use cases, competing technologies, advantages, disadvantages and economics of vanadium redox batteries. To 2026, Roskill expects the market for stationary energy storage to increase to over 16GWh, from less than 2GWh today. While vanadium redox batteries will only account for a fraction of the market, even slight growth in market share could potentially add tens of kilotonnes of demand to the market. Market potential will hinge on capital and lifetime cost reductions, as compared to alternative storage technologies.
Roskill’s 10-year outlook covers the viability of new projects coming on-stream, the supply of material from existing and secondary sources, different scenarios for demand, and the relatively probability of optimistic and pessimistic price forecasts. Roskill’s outlook also contains a detailed analysis of vanadium prices, including analyses of price correlations, technical analysis, and a review of the seasonal variations in prices showing, for instance, that changes in prices as large as 20% may be attributed to seasonal factors (on both the supply and demand sides).
Roskill’s report includes a quarterly vanadium update, which keeps you informed of industry news and trends, and allows us to provide you with up-to-date supply, demand and price forecasts on a quarterly basis.
Quarterly updates of the main drivers within the report
Electronic copy of the report for up to five users
Access to the Roskill specialist for key report queries
Full forecasted report over the next ten years
Hard copy of the report on request
Vanadium: Global Industry, Markets & Outlook (Pre-order)
Updated and released every 12 months, the Vanadium: Markets and Outlook to 2026.
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