Global Information Inc. would like to present a new market research report, "Vanadium: Market Outlook to 2025 - Premium Edition" by Roskill Information Services, Ltd..
World production of vanadium grew by over 7 percent per year between 2003 and 2008. The majority of this expansion originated within existing mines and plants, particularly in China. In the last decade, China has risen to become both the main consumer and main producer of vanadium. Demand for vanadium in China rose at a rate of 13 percent per year from 2003 to 2009. What is interesting is that the Chinas burgeoning vanadium demand also accompanied escalating levels of steel output from the nation. According to Roskill Information Services new report, "Countries with mature economies have a much higher intensity of use of vanadium in steels than industrializing countries; in 2008, intensity of use in the USA was more than three times as great as that in China." The Chinese now account for nearly 50% of total demand worldwide, in terms of supply. If expansion goes as planned over the next two years, this will reinforce current demand standings in this market. Furthermore, "additional supply could come from re-opening the mine and plant at Windimurra, a new mine and plant in Brazil, further expansion of slag output in Sichuan as well as an increase in by-product output from uranium processing in the USA and South Africa."
The new report indicates that key drivers of growth in the vanadium market will be a combination of healthy growth in steel output from the BRIC (Brazil, Russia, India, and China) regions in addition to greater emphasis in these countries on high strength low alloy steel production, which contains higher vanadium content.
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