What this market covers
Vanadium oxides and hydroxides.
Typical segments
- Vanadium pentoxide
- Vanadium trioxide
- Vanadium hydroxide
- Battery grade vanadium oxide
Why this market is moving now
- World trade shrank 53% from 2019 to 2024, a direct read on cross-border demand.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of vanadium oxide (HS 282530) were worth $450.7 million in 2024. | 450.7 USD million | 2024 | |
| World exports were 53% lower in 2024 than in 2019 ($968.1 million), calculated from the annual totals. | -53 % since 2019 | 2024 | |
| Russia was the largest exporter in 2024, with 24% of world exports ($109.7 million). | 24 % of world exports | 2024 | |
| The three largest exporters, Russia, China and Brazil, shipped 64% of world exports in 2024. | 64 % of world exports | 2024 | |
| The Czech Republic was the largest importer in 2024, buying $83.6 million, or 19% of world imports. | 19 % of world imports | 2024 | |
| 15 countries exported more than $1 million of this product in 2024. | 15 countries | 2024 | |
| The average world export price was about $10.46 per kilogram in 2024, calculated from value and weight. | 10.46 USD per kg | 2024 | |
| Countries exported 43.1 thousand tonnes of this product in 2024. | 43.1 thousand tonnes | 2024 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Ferrovanadium producers
- Catalyst makers
- Flow battery makers
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global vanadium oxide market?
There is no single official market total. World exports of HS 282530 reached $450.7 million in 2024, a direct measure of cross-border trade.
Which countries export the most vanadium oxide?
Russia led world exports in 2024 with 24% of the total, followed by China, Brazil and South Africa.
Which countries import the most vanadium oxide?
The Czech Republic was the largest importer in 2024, followed by the Netherlands, the United States and South Korea.
Is world trade in vanadium oxide growing?
World exports were 53% lower in 2024 than in 2019.
What is the average export price of vanadium oxide?
Dividing world export value by weight gives about $10.46 per kilogram in 2024.
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