Vanadium (V): Uses, Supply Chain and Market
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Vanadium is used mainly as an alloying agent in iron and steel, and China, the leading producer, gets most of it as a coproduct of vanadium-bearing titanomagnetite ores processed during steelmaking. In 2025 China produced an estimated 82,000 t, 72% of world mine production (USGS world total: 110,000 t), according to the US Geological Survey (USGS). US net import reliance for vanadium in 2025 was 41%. Vanadium is on all four official critical minerals lists: the US, EU, Australian and Canadian.
$5.02/lb
vanadium pentoxide, average in 2025 (-8% on 2024)
Which countries produce vanadium?
| Country | 2024 | 2025 (estimate) | Share of 2025 world | Reserves (t) |
|---|---|---|---|---|
| China | 84,000 | 82,000 | 72% | 5,800 |
| Russia | 21,000 | 21,000 | 19% | 5,000 |
| Brazil | 5,190 | 5,300 | 4.7% | 94 |
| South Africa | 8,050 | 5,000 | 4.4% | 520 |
| United States | None | None | - | 50 |
| World total (USGS, rounded) | 118,000 | 110,000 | 100% | 21,000 |
Source: USGS Mineral Commodity Summaries 2026, Vanadium. Shares are calculated from the country figures and can differ by a point or two from percentages USGS states in its text, because USGS rounds its figures. NA means not available; Withheld means USGS withheld the figure to avoid disclosing company data.
What is vanadium used for?
- Iron and steel alloying: metallurgical use accounted for more than 90% of US reported consumption in 2025
- Catalysts: the major nonmetallurgical use, for maleic anhydride and sulfuric acid
- Vanadium redox flow batteries: used in large-scale energy storage systems; installations increased in 2025, although high capital costs and limited high-purity vanadium feedstock remain challenges
How much does vanadium cost?
| Price | Unit | 2021 | 2022 | 2023 | 2024 | 2025 (estimate) |
|---|---|---|---|---|---|---|
| Vanadium pentoxide, average | dollars per pound | 8.17 | 9.29 | 7.50 | 5.44 | 5.02 |
Source: USGS Mineral Commodity Summaries 2026, Vanadium. The 2025 figures are USGS estimates. Prices are annual averages of the series named in each row, so they are not live quotes.
USGS reports an estimated 2025 average of $5.02 per pound for Chinese vanadium pentoxide (98%) and $14.14 per pound for US ferrovanadium (78% to 82% vanadium), up from $13.05 in 2024.
Is vanadium a critical mineral?
Vanadium is on all four official critical minerals lists: the US, EU, Australian and Canadian. Each government builds its list with its own method, so a mineral can be critical in one place and not in another.
| Jurisdiction | Status |
|---|---|
| United States | Critical mineral (final 2025 list) |
| European Union | Critical |
| Australia | Critical minerals list |
| Canada | Critical |
Lists last checked against the primary publications on October 12, 2026. See the comparison of all four lists.
What are the substitutes for vanadium?
| Application | Substitute and trade-off |
|---|---|
| Steels containing vanadium | Steels with other alloying element combinations; manganese, molybdenum, niobium, titanium and tungsten are to some degree interchangeable |
| Catalysts in some chemical processes | Platinum and nickel |
| Aerospace titanium alloys | No acceptable substitute is available |
Source: USGS Mineral Commodity Summaries 2026, Vanadium. USGS says substitutes often cost performance or money; the table gives its wording for each application.
Can vanadium be recycled?
Recycling of vanadium is mainly the reprocessing of vanadium catalysts into new catalysts. USGS says the uncertainty about the quantity recycled from spent chemical process catalysts is significant.
What are the supply risks and recent events for vanadium?
- August 2025. Executive Order 14323 raised tariffs from 10% to 50% on many imports from Brazil, including high-purity vanadium products but not ferrovanadium. A major Brazilian vanadium producer sought an exemption, citing the importance of its high-purity vanadium for US aerospace and defense applications.
- 2025. US vanadium mining in Utah ceased in early 2020 and was not restarted. Secondary production continued from petroleum residues, spent catalysts and utility ash in Arkansas, Delaware, Ohio, Pennsylvania and Texas, and rose to 7,500 tons from 6,800 tons.
US import sources, 2021 to 2024. Total: Canada, 34%; Brazil, 13%; South Africa, 13%; Austria, 10%; and other, 30%. (USGS)
Resources. World vanadium resources exceed 63 million tons. It occurs in phosphate rock, titaniferous magnetite and uraniferous sandstone and siltstone, and is typically recovered as a byproduct or coproduct.
Which companies produce or process vanadium?
| Company | Country | Role | What the source says |
|---|---|---|---|
| Pangang Group Vanadium & Titanium Resources | China | Vanadium products and titanium producer (SZSE: 000629) | Its 2025 annual report, in Chinese, gives production of 53,147 tonnes of vanadium products on a V2O5 basis in 2025 (53,370 in 2024) and sales of 53,101 tonnes. It quotes the National Vanadium and Titanium Industry Alliance for domestic vanadium output of about 163,900 tonnes of V2O5, down 0.5%. Pangang Group Vanadium & Titanium Resources: 2025 annual report, in Chinese (31 March 2026) |
| Largo | Canada (Maracás Menchen mine in Brazil) | Vanadium miner (Nasdaq: LGO; TSX: LGO) | Its 23 July 2026 release reports V2O5 production of 2,900 tonnes in the second quarter (up 28.5%) and 5,516 tonnes for the half (up 55.2%) from the Maracás Menchen mine, and a US Defense Logistics Agency delivery order. It calls itself the world's largest primary vanadium producer, which is its own claim. Largo: second quarter 2026 production and sales release (23 July 2026) |
| Glencore | Switzerland | Vanadium pentoxide producer within its metallurgical assets (LSE: GLEN) | Its full year 2025 production report lists vanadium pentoxide production of 18.0 million pounds in 2025 (18.3 million in 2024) under its custom metallurgical assets. Glencore: full year 2025 production report (29 January 2026) |
Each row links to the document that supports it. The list is not exhaustive and is not a ranking.
Frequently asked questions
What is vanadium used for?
Vanadium is used in iron and steel alloying, catalysts and vanadium redox flow batteries. Iron and steel alloying: metallurgical use accounted for more than 90% of US reported consumption in 2025.
Which country produces the most vanadium?
China produces the most vanadium: an estimated 82,000 t, or 72% of the world total, in 2025, according to the USGS mine production figures.
Is vanadium a critical mineral?
Yes. Vanadium is on all four official critical minerals lists: the US, EU, Australian and Canadian. Vanadium was already on the 2022 US list and stays on the final 2025 list of 60 minerals. US net import reliance for vanadium in 2025 was 41%.
How much does vanadium cost?
USGS reports the average 2025 price of vanadium at $5.02/lb (vanadium pentoxide, average; -8% on 2024).
Sources
Read on October 14, 2026. Figures on this page come from these documents; where a number is an estimate, the source says so.
- USGS Mineral Commodity Summaries 2026: Vanadium. Production, reserves, uses, substitutes, recycling and events
- USGS Mineral Commodity Summaries 2026: introduction (Table 7 and Figures 10A and 10B). Net import reliance, leading producer and price changes for critical minerals
- Federal Register: Final 2025 List of Critical Minerals
- EUR-Lex: Regulation (EU) 2024/1252
- Department of Industry, Science and Resources: Australia’s Critical Minerals List and Strategic Materials List
- Government of Canada: Canada’s critical minerals
- Pangang Group Vanadium & Titanium Resources: 2025 annual report, in Chinese (31 March 2026)
- Largo: second quarter 2026 production and sales release (23 July 2026)
- Glencore: full year 2025 production report (29 January 2026)
