Vanadium Market Overview
Recent supply shortages are due to high demand across industries who increasingly require vanadium
Various other industries use vanadium in their production, these include ceramics and electronics, textile dyes, fertilisers, synthetic rubber, in welding as well as in alloys used in nuclear engineering and superconductors.
Outperforming Cobalt, Lithium, Nickel
Comparatively vanadium has outperformed other known battery components that include cobalt, lithium and nickel. In the last year alone, the price of vanadium has increased by more than 130%. This is due to a supply glut where vanadium consumption outweighed supply in 2017, this was estimated to be around ~9700t in January 2018. The trend of vanadium is projected to build further momentum due to the multiple needs and requirements it affords.