Global vanadium industry development report in 2023-2024

This article examined the overall status of the vanadium industry from 2023 to 2024, covering global vanadium resources, products, production capacity, output, supply and demand, import and export trade, and market prices. Based on the current domestic and international industry trends, it provides an outlook for the vanadium market, suggesting that the global vanadium industry has entered a new phase of transformation and development. China should develop and utilize vanadium-a key strategic metal mineral resource-in a scientific, efficient, and well-ordered manner, and proactively plan a green and low-carbon development pathway for the vanadium sector. In the coming years, China is expected to remain the world's largest vanadium market in terms of both supply and demand. Globally, vanadium prices are likely to consolidate and readjust within a certain range under the influence of multiple regulatory factors. Vanadium battery energy storage is set to become one of the key enablers supporting the safe and stable integration of new energy.