- In February 2024, AMG Vanadium acquired processing technologies and intellectual property from Transformation Technologies Inc. (TTI), a company specializing in green energy and recyclable metals. This acquisition will enhance AMG’s position in recycling refinery waste, particularly vanadium extracted from oil refining residues. The move strengthens AMG Vanadium’s commitment to sustainable practices in the vanadium market
- In February 2024, Australian Vanadium Limited (AVL) completed its merger with Technology Metals Australia, acquiring all of the latter’s shares. This strategic acquisition is aimed at expanding AVL’s presence in primary vanadium production. By integrating Technology Metals Australia’s assets, AVL seeks to strengthen its position in the global vanadium market
- In August 2021, EVRAZ plc revealed plans to establish a new vanadium slag processing plant in the Tula region of Russia, with an investment of around USD 228 million. The plant is expected to begin operations by 2025 and aims to enhance cost efficiency in the processing of slag into the final vanadium product. This move will support the company’s expansion in vanadium production.
- In May 2020, EVRAZ Vanadium inaugurated a new R&D facility in Zug, Switzerland, through its affiliate East Metals AG. The facility is focused on advancing the sustainable and diverse use of vanadium as an alloying element in both current and future steel products. This development aims to enhance the role of vanadium in the steel industry
Frequently Asked Questions
The market is segmented based on Segmentation, By Grade Type (FeV40, FeV50, FeV60, and FeV80), Production Process (Aluminothermic Reduction Technique and Silicon Reduction Technique), Application (Iron and Steel, Chemical, Titanium Alloys, and Others), End User (Automotive Chemical, Energy Storage, and Others) – Industry Trends and Forecast to 2032
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The Global Vanadium Market size was valued at USD 1.87 USD Billion in 2024.
The Global Vanadium Market is projected to grow at a CAGR of 5.8% during the forecast period of 2025 to 2032.
The major players operating in the market include Australian Vanadium Limited, Bushveld Minerals, EVRAZ, Largo , VanadiumCorp Resource , AMG, China Ansteel Group Corporation Limited, Glencore, HBIS GROUP, Treibacher Industrie AG, Tremond Metals Corp, Yilmaden, JAYESH, Core Metals LLC, Gulf Chemical And Metallurgical Corporation, Williams, Continental Precious Min, Ferroglobe, Essel Mining & Industries Limited.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
