The global High-purity Vanadium Pentoxide market is currently navigating a period of significant technological evolution, transitioning from a niche chemical used primarily in catalysts and aerospace alloys to a foundational material for the global energy transition. High-purity Vanadium Pentoxide (V2O5), generally defined by a purity level exceeding 99.6%, is distinguished from standard-grade vanadium by its ultra-low levels of impurities such as iron, silicon, and phosphorus. This chemical profile is essential for the electrolyte used in Vanadium Redox Flow Batteries (VRFBs) and for the production of high-performance titanium-vanadium alloys utilized in the aerospace and defense sectors.
As of 2024, the global High-purity Vanadium Pentoxide market is valued at approximately 612.4 million US
andisprojectedtoreachanestimated1,580.6millionUS and is projected to reach an estimated 1,580.6 million US
by the end of 2036. This growth represents a robust Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period of 2026-2036. While the historical period (2020-2024) saw price volatility due to fluctuations in the steel industry—from which most vanadium is co-produced—the forecast period is expected to be increasingly decoupled from steel cycles, driven instead by the rapid scaling of long-duration energy storage (LDES) systems.
Major Players in the Global Market
The competitive landscape is dominated by vertically integrated steel and mining giants alongside specialized chemical refiners who possess the proprietary technology required for the complex purification of vanadium slag. The following Key Players are the primary influencers of market supply and pricing:
-
EVRAZ: A dominant global producer with significant assets in Russia and North America, leading the market in both standard and high-purity grades.
-
VanadiumCorp: A specialized resource company focused on developing green technology for vanadium extraction and high-purity electrolyte production.
-
HBIS Group: One of China’s largest steelmakers, which leverages its massive vanadium slag output to produce high-purity oxides for the domestic battery market.
-
Ironstone Resources: An emerging player focused on multi-commodity projects with a strategic emphasis on high-purity vanadium for energy storage.
-
Suzhou Donghua Fangui: A critical Chinese refiner known for producing top-tier purity grades for chemical and catalyst applications.
-
GfE: A European leader in the production of master alloys and high-purity vanadium chemicals, serving the aerospace and medical industries.
-
Hunan Hanrui: A significant Chinese manufacturer specializing in high-purity vanadium chemicals and advanced materials.
-
Liaoyang Hengye: A key player in the Asian market focusing on specialized vanadium derivatives.
-
Huifeng Energy: An integrated company focusing on the intersection of vanadium production and renewable energy storage solutions.
Market Segmentation
The market is categorized by the degree of refinement and the specific requirements of the end-use sectors. These Segments highlight the diverging needs of industrial users:
By Product Type:
-
Purity < 99.6%: Often considered "industrial high purity," used in standard chemical catalysts and certain specialty steels.
-
99.6% ≤ Purity < 99.9%: The standard grade for vanadium redox flow battery electrolytes and high-strength titanium alloys.
-
Purity ≥ 99.9%: The ultra-high-purity tier, required for semiconductor applications, specialized optical coatings, and high-end aerospace components.
By Application:
-
Metallurgy: Specifically high-end metallurgy, such as the production of Grade 5 Titanium (Ti-6Al-4V) used in jet engines and airframes.
-
Vanadium Cell: This application involves the production of electrolytes for VRFBs. It is the fastest-growing segment due to the global push for renewable energy integration.
-
Catalyst: Used primarily in the production of sulfuric acid (via the contact process) and for the reduction of NOx emissions in power plants.
-
Others: Including medical applications, pigments, and advanced electronics.
DROT Analysis (Drivers, Restraints, Opportunities, and Threats)
Drivers
The most significant driver is the global surge in long-duration energy storage. Unlike Lithium-ion batteries, Vanadium Redox Flow Batteries are non-flammable, have a lifespan exceeding 20 years, and do not degrade over thousands of cycles, making them ideal for grid-scale storage. Additionally, the recovery of the aerospace sector post-2022 has reignited demand for high-purity vanadium used in light-weighting aircraft structures.
Restraints
The primary restraint is the complex and energy-intensive nature of the purification process. Removing trace elements like chromium and iron to reach 99.9% purity is costly and requires sophisticated chemical leaching and ion exchange technologies. Furthermore, the market remains highly concentrated in China and Russia, creating supply chain vulnerabilities for Western manufacturers.
Opportunities
The transition toward "Green Vanadium" offers a substantial opportunity. Companies developing methods to extract vanadium from fly ash, spent catalysts, or steel slag using renewable energy can command a "green premium." There is also an opportunity in the regionalization of supply chains, with the US and Europe listing vanadium as a critical mineral, providing subsidies for domestic high-purity production.
Threats
The emergence of alternative flow battery chemistries—such as iron-flow or zinc-bromine—poses a threat to vanadium’s market share if vanadium prices remain too high. Additionally, the potential for synthetic substitutes in catalyst applications or the development of vanadium-free aerospace alloys could impact long-term demand.
Value Chain Analysis
The value chain of High-purity Vanadium Pentoxide is a rigorous progression from raw industrial waste to high-tech chemical. It begins with Upstream Extraction, primarily as a byproduct of steel production from titaniferous magnetite ores or via direct mining. The raw material is typically vanadium-bearing slag.
The Primary Processing stage involves roasting the slag with salt to produce standard-grade vanadium pentoxide (98% purity). The Refinement and Purification stage is where the "high-purity" value is created. This involves dissolving the standard oxide in acids, followed by chemical precipitation or solvent extraction to remove microscopic impurities. This stage is dominated by specialized chemical companies with high intellectual property barriers.
The Downstream Integration involves the conversion of the high-purity oxide into vanadium electrolytes for batteries or into master alloys for the aerospace industry. The value added at the refinement stage is nearly triple that of the raw ore stage, making it the most profitable part of the chain.
Regional Outlook
China currently dominates both production and consumption, driven by its massive VRFB pilot projects and its position as the world’s largest steel producer. North America and Europe are focus regions for high-value aerospace applications and are aggressively seeking to build domestic VRFB supply chains to reduce reliance on imports. India is an emerging market, with its growing solar energy infrastructure creating a latent demand for flow battery storage systems.
Outlook (2026–2036)
The outlook for the High-purity Vanadium Pentoxide market for the period 2026-2036 is exceptionally positive, characterized by a shift from a "steel-additive" market to an "energy-metal" market. We expect to see a "supply crunch" in the late 2020s as VRFB deployments outpace the expansion of high-purity refining capacity. This will likely lead to increased investment in vertical integration, where battery manufacturers partner directly with miners to secure long-term supply.
By 2036, the market will likely be defined by "circularity," with the recycling of vanadium electrolytes from decommissioned batteries becoming a major secondary source of high-purity V2O5. As the world strives for Net Zero, high-purity vanadium will be recognized as a strategic asset, comparable to cobalt or lithium in its importance to the global energy landscape. Technological breakthroughs in direct-to-electrolyte processing will also likely reduce costs, further cementing Vanadium Pentoxide’s role in the future of the global power grid.
Explore more reports here-
https://westernmarketresearch.com
Table of Contents Global High-purity Vanadium Pentoxide 1 High-purity Vanadium Pentoxide Market Overview 1.1 Product Overview and Scope of High-purity Vanadium Pentoxide 1.2 Classification of High-purity Vanadium Pentoxide by Product Category 1.2.1 Global High-purity Vanadium Pentoxide Market Size (Sales) Comparison by Type 1.2.2 Global High-purity Vanadium Pentoxide Market Size (Sales) Market Share by Type (Product Category) in 1.2.3 Purity<99.6% 1.2.4 99.6%?Purity<99.9% 1.2.5 Purity?99.9% 1.3 Global High-purity Vanadium Pentoxide Market by Application/End Users 1.3.1 Global High-purity Vanadium Pentoxide Sales (Volume) and Market Share Comparison by Application 1.3.1 Metallurgy 1.3.2 Vanadium Cell 1.3.3 Catalyst 1.3.4 Others 1.4 Global High-purity Vanadium Pentoxide Market by Region 1.4.1 Global High-purity Vanadium Pentoxide Market Size (Value) Comparison by Region 1.4.2 United States High-purity Vanadium Pentoxide Status and Prospect 1.4.3 Europe High-purity Vanadium Pentoxide Status and Prospect 1.4.4 China High-purity Vanadium Pentoxide Status and Prospect 1.4.5 Japan High-purity Vanadium Pentoxide Status and Prospect 1.4.6 Southeast Asia High-purity Vanadium Pentoxide Status and Prospect 1.4.7 India High-purity Vanadium Pentoxide Status and Prospect 1.5 Global Market Size (Value and Volume) of High-purity Vanadium Pentoxide 1.5.1 Global High-purity Vanadium Pentoxide Sales and Growth Rate 1.5.2 Global High-purity Vanadium Pentoxide Revenue and Growth Rate 2 Global High-purity Vanadium Pentoxide Competition by Players/Suppliers, Type and Application 2.1 Global High-purity Vanadium Pentoxide Market Competition by Players/Suppliers 2.1.1 Global High-purity Vanadium Pentoxide Sales and Market Share of Key Players/Suppliers 2.1.2 Global High-purity Vanadium Pentoxide Revenue and Share by Players/Suppliers 2.2 Global High-purity Vanadium Pentoxide (Volume and Value) by Type 2.2.1 Global High-purity Vanadium Pentoxide Sales and Market Share by Type 2.2.2 Global High-purity Vanadium Pentoxide Revenue and Market Share by Type 2.3 Global High-purity Vanadium Pentoxide (Volume and Value) by Region 2.3.1 Global High-purity Vanadium Pentoxide Sales and Market Share by Region 2.3.2 Global High-purity Vanadium Pentoxide Revenue and Market Share by Region 2.4 Global High-purity Vanadium Pentoxide (Volume) by Application 3 United States High-purity Vanadium Pentoxide (Volume, Value and Sales Price) 3.1 United States High-purity Vanadium Pentoxide Sales and Value 3.1.1 United States High-purity Vanadium Pentoxide Sales and Growth Rate 3.1.2 United States High-purity Vanadium Pentoxide Revenue and Growth Rate 3.1.3 United States High-purity Vanadium Pentoxide Sales Price Trend 3.2 United States High-purity Vanadium Pentoxide Sales Volume and Market Share by Players 3.3 United States High-purity Vanadium Pentoxide Sales Volume and Market Share by Type 3.4 United States High-purity Vanadium Pentoxide Sales Volume and Market Share by Application 4 Europe High-purity Vanadium Pentoxide (Volume, Value and Sales Price) 4.1 Europe High-purity Vanadium Pentoxide Sales and Value 4.1.1 Europe High-purity Vanadium Pentoxide Sales and Growth Rate 4.1.2 Europe High-purity Vanadium Pentoxide Revenue and Growth Rate 4.1.3 Europe High-purity Vanadium Pentoxide Sales Price Trend 4.2 Europe High-purity Vanadium Pentoxide Sales Volume and Market Share by Players 4.3 Europe High-purity Vanadium Pentoxide Sales Volume and Market Share by Type 4.4 Europe High-purity Vanadium Pentoxide Sales Volume and Market Share by Application 5 China High-purity Vanadium Pentoxide (Volume, Value and Sales Price) 5.1 China High-purity Vanadium Pentoxide Sales and Value 5.1.1 China High-purity Vanadium Pentoxide Sales and Growth Rate 5.1.2 China High-purity Vanadium Pentoxide Revenue and Growth Rate 5.1.3 China High-purity Vanadium Pentoxide Sales Price Trend 5.2 China High-purity Vanadium Pentoxide Sales Volume and Market Share by Players 5.3 China High-purity Vanadium Pentoxide Sales Volume and Market Share by Type 5.4 China High-purity Vanadium Pentoxide Sales Volume and Market Share by Application 6 Japan High-purity Vanadium Pentoxide (Volume, Value and Sales Price) 6.1 Japan High-purity Vanadium Pentoxide Sales and Value 6.1.1 Japan High-purity Vanadium Pentoxide Sales and Growth Rate 6.1.2 Japan High-purity Vanadium Pentoxide Revenue and Growth Rate 6.1.3 Japan High-purity Vanadium Pentoxide Sales Price Trend 6.2 Japan High-purity Vanadium Pentoxide Sales Volume and Market Share by Players 6.3 Japan High-purity Vanadium Pentoxide Sales Volume and Market Share by Type 6.4 Japan High-purity Vanadium Pentoxide Sales Volume and Market Share by Application 7 Southeast Asia High-purity Vanadium Pentoxide (Volume, Value and Sales Price) 7.1 Southeast Asia High-purity Vanadium Pentoxide Sales and Value 7.1.1 Southeast Asia High-purity Vanadium Pentoxide Sales and Growth Rate 7.1.2 Southeast Asia High-purity Vanadium Pentoxide Revenue and Growth Rate 7.1.3 Southeast Asia High-purity Vanadium Pentoxide Sales Price Trend 7.2 Southeast Asia High-purity Vanadium Pentoxide Sales Volume and Market Share by Players 7.3 Southeast Asia High-purity Vanadium Pentoxide Sales Volume and Market Share by Type 7.4 Southeast Asia High-purity Vanadium Pentoxide Sales Volume and Market Share by Application 8 India High-purity Vanadium Pentoxide (Volume, Value and Sales Price) 8.1 India High-purity Vanadium Pentoxide Sales and Value 8.1.1 India High-purity Vanadium Pentoxide Sales and Growth Rate 8.1.2 India High-purity Vanadium Pentoxide Revenue and Growth Rate 8.1.3 India High-purity Vanadium Pentoxide Sales Price Trend 8.2 India High-purity Vanadium Pentoxide Sales Volume and Market Share by Players 8.3 India High-purity Vanadium Pentoxide Sales Volume and Market Share by Type 8.4 India High-purity Vanadium Pentoxide Sales Volume and Market Share by Application 9 Global High-purity Vanadium Pentoxide Players/Suppliers Profiles and Sales Data 9.1 EVRAZ 9.1.1 Company Basic Information, Manufacturing Base and Competitors 9.1.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.1.2.1 Product A 9.1.2.2 Product B 9.1.3 EVRAZ High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.1.4 Main Business/Business Overview 9.2 VanadiumCorp 9.2.1 Company Basic Information, Manufacturing Base and Competitors 9.2.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.2.2.1 Product A 9.2.2.2 Product B 9.2.3 VanadiumCorp High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.2.4 Main Business/Business Overview 9.3 HBIS Group 9.3.1 Company Basic Information, Manufacturing Base and Competitors 9.3.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.3.2.1 Product A 9.3.2.2 Product B 9.3.3 HBIS Group High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.3.4 Main Business/Business Overview 9.4 Ironstone Resources 9.4.1 Company Basic Information, Manufacturing Base and Competitors 9.4.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.4.2.1 Product A 9.4.2.2 Product B 9.4.3 Ironstone Resources High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.4.4 Main Business/Business Overview 9.5 Suzhou Donghua Fangui 9.5.1 Company Basic Information, Manufacturing Base and Competitors 9.5.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.5.2.1 Product A 9.5.2.2 Product B 9.5.3 Suzhou Donghua Fangui High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.5.4 Main Business/Business Overview 9.6 GfE 9.6.1 Company Basic Information, Manufacturing Base and Competitors 9.6.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.6.2.1 Product A 9.6.2.2 Product B 9.6.3 GfE High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.6.4 Main Business/Business Overview 9.7 Hunan Hanrui 9.7.1 Company Basic Information, Manufacturing Base and Competitors 9.7.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.7.2.1 Product A 9.7.2.2 Product B 9.7.3 Hunan Hanrui High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.7.4 Main Business/Business Overview 9.8 Liaoyang Hengye 9.8.1 Company Basic Information, Manufacturing Base and Competitors 9.8.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.8.2.1 Product A 9.8.2.2 Product B 9.8.3 Liaoyang Hengye High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.8.4 Main Business/Business Overview 9.9 Huifeng Energy 9.9.1 Company Basic Information, Manufacturing Base and Competitors 9.9.2 High-purity Vanadium Pentoxide Product Category, Application and Specification 9.9.2.1 Product A 9.9.2.2 Product B 9.9.3 Huifeng Energy High-purity Vanadium Pentoxide Sales, Revenue, Price and Gross Margin 9.9.4 Main Business/Business Overview 10 High-purity Vanadium Pentoxide Maufacturing Cost Analysis 10.1 High-purity Vanadium Pentoxide Key Raw Materials Analysis 10.1.1 Key Raw Materials 10.1.2 Price Trend of Key Raw Materials 10.1.3 Key Suppliers of Raw Materials 10.1.4 Market Concentration Rate of Raw Materials 10.2 Proportion of Manufacturing Cost Structure 10.2.1 Raw Materials 10.2.2 Labor Cost 10.2.3 Manufacturing Process Analysis of High-purity Vanadium Pentoxide 10.3 Manufacturing Process Analysis of High-purity Vanadium Pentoxide 11 Industrial Chain, Sourcing Strategy and Downstream Buyers 11.1 High-purity Vanadium Pentoxide Industrial Chain Analysis 11.2 Upstream Raw Materials Sourcing 11.3 Raw Materials Sources of High-purity Vanadium Pentoxide Major Manufacturers in 11.4 Downstream Buyers 12 Marketing Strategy Analysis, Distributors/Traders 12.1 Marketing Channel 12.1.1 Direct Marketing 12.1.2 Indirect Marketing 12.1.3 Marketing Channel Development Trend 12.2 Market Positioning 12.2.1 Pricing Strategy 12.2.2 Brand Strategy 12.2.3 Target Client 12.3 Distributors/Traders List 13 Market Effect Factors Analysis 13.1 Technology Progress/Risk 13.1.1 Substitutes Threat 13.1.2 Technology Progress in Related Industry 13.2 Consumer Needs/Customer Preference Change 13.3 Economic/Political Environmental Change 14 Global High-purity Vanadium Pentoxide Market Forecast (2018-2025) 14.1 Global High-purity Vanadium Pentoxide Sales Volume, Revenue and Price Forecast (2018-2025) 14.1.1 Global High-purity Vanadium Pentoxide Sales Volume and Growth Rate Forecast (2018-2025) 14.1.2 Global High-purity Vanadium Pentoxide Revenue and Growth Rate Forecast (2018-2025) 14.1.3 Global High-purity Vanadium Pentoxide Price and Trend Forecast (2018-2025) 14.2 Global High-purity Vanadium Pentoxide Sales Volume, Revenue and Growth Rate Forecast by Region (2018-2025) 14.2.1 Global High-purity Vanadium Pentoxide Sales Volume and Growth Rate Forecast by Regions (2018-2025) 14.2.2 Global High-purity Vanadium Pentoxide Revenue and Growth Rate Forecast by Regions (2018-2025) 14.2.3 United States High-purity Vanadium Pentoxide Sales Volume, Revenue and Growth Rate Forecast (2018-2025) 14.2.4 Europe High-purity Vanadium Pentoxide Sales Volume, Revenue and Growth Rate Forecast (2018-2025) 14.2.5 China High-purity Vanadium Pentoxide Sales Volume, Revenue and Growth Rate Forecast (2018-2025) 14.2.6 Japan High-purity Vanadium Pentoxide Sales Volume, Revenue and Growth Rate Forecast (2018-2025) 14.2.7 Southeast Asia High-purity Vanadium Pentoxide Sales Volume, Revenue and Growth Rate Forecast (2018-2025) 14.2.8 India High-purity Vanadium Pentoxide Sales Volume, Revenue and Growth Rate Forecast (2018-2025) 14.3 Global High-purity Vanadium Pentoxide Sales Volume, Revenue and Price Forecast by Type (2018-2025) 14.3.1 Global High-purity Vanadium Pentoxide Sales Forecast by Type (2018-2025) 14.3.2 Global High-purity Vanadium Pentoxide Revenue Forecast by Type (2018-2025) 14.3.3 Global High-purity Vanadium Pentoxide Price Forecast by Type (2018-2025) 14.4 Global High-purity Vanadium Pentoxide Sales Volume Forecast by Application (2018-2025) 15 Research Findings and Conclusion 16 Appendix 16.1 Methodology/Research Approach 16.1.1 Research Programs/Design 16.1.2 Market Size Estimation 16.1.3 Market Breakdown and Data Triangulation 16.2 Data Source 16.2.1 Secondary Sources 16.2.2 Primary Sources 16.3 Disclaimer List of Tables and Figures Figure Product Picture of High-purity Vanadium Pentoxide Figure Global High-purity Vanadium Pentoxide Sales Volume Comparison (MT) by Type Figure Global High-purity Vanadium Pentoxide Sales Volume Market Share by Type (Product Category) in Figure Purity<99.6% Product Picture Figure 99.6%?Purity<99.9% Product Picture Figure Purity?99.9% Product Picture Figure Global High-purity Vanadium Pentoxide Sales Comparison (MT) by Application Figure Global Sales Market Share of High-purity Vanadium Pentoxide by Application in Figure Metallurgy Examples Table Key Downstream Customer in Metallurgy Figure Vanadium Cell Examples Table Key Downstream Customer in Vanadium Cell Figure Catalyst Examples Table Key Downstream Customer in Catalyst Figure Others Examples Table Key Downstream Customer in Others Figure Global High-purity Vanadium Pentoxide Market Size (Million USD) by Regions Figure United States High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Europe High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure China High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Japan High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Southeast Asia High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure India High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Global High-purity Vanadium Pentoxide Sales Volume (MT) and Growth Rate Figure Global High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Global Market Major Players High-purity Vanadium Pentoxide Sales Volume (MT) Table Global High-purity Vanadium Pentoxide Sales (MT) of Key Players/Suppliers Table Global High-purity Vanadium Pentoxide Sales Share by Players/Suppliers Figure High-purity Vanadium Pentoxide Sales Share by Players/Suppliers Figure High-purity Vanadium Pentoxide Sales Share by Players/Suppliers Figure Global High-purity Vanadium Pentoxide Revenue (Million USD) by Players/Suppliers Table Global High-purity Vanadium Pentoxide Revenue (Million USD) by Players/Suppliers Table Global High-purity Vanadium Pentoxide Revenue Share by Players/Suppliers Table Global High-purity Vanadium Pentoxide Revenue Share by Players Table Global High-purity Vanadium Pentoxide Revenue Share by Players Table Global High-purity Vanadium Pentoxide Sales (MT) and Market Share by Type Table Global High-purity Vanadium Pentoxide Sales Share (MT) by Type Figure Sales Market Share of High-purity Vanadium Pentoxide by Type Figure Global High-purity Vanadium Pentoxide Sales Growth Rate by Type Table Global High-purity Vanadium Pentoxide Revenue (Million USD) and Market Share by Type Table Global High-purity Vanadium Pentoxide Revenue Share by Type Figure Revenue Market Share of High-purity Vanadium Pentoxide by Type Figure Global High-purity Vanadium Pentoxide Revenue Growth Rate by Type Table Global High-purity Vanadium Pentoxide Sales Volume (MT) and Market Share by Region Table Global High-purity Vanadium Pentoxide Sales Share by Region Figure Sales Market Share of High-purity Vanadium Pentoxide by Region Figure Global High-purity Vanadium Pentoxide Sales Growth Rate by Region in Table Global High-purity Vanadium Pentoxide Revenue (Million USD) and Market Share by Region Table Global High-purity Vanadium Pentoxide Revenue Share (%) by Region Figure Revenue Market Share of High-purity Vanadium Pentoxide by Region Figure Global High-purity Vanadium Pentoxide Revenue Growth Rate by Region in Table Global High-purity Vanadium Pentoxide Revenue (Million USD) and Market Share by Region Table Global High-purity Vanadium Pentoxide Revenue Share (%) by Region Figure Revenue Market Share of High-purity Vanadium Pentoxide by Region Figure Global High-purity Vanadium Pentoxide Revenue Market Share by Region in Table Global High-purity Vanadium Pentoxide Sales Volume (MT) and Market Share by Application Table Global High-purity Vanadium Pentoxide Sales Share (%) by Application Figure Sales Market Share of High-purity Vanadium Pentoxide by Application Figure Global High-purity Vanadium Pentoxide Sales Market Share by Application Figure United States High-purity Vanadium Pentoxide Sales (MT) and Growth Rate Figure United States High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure United States High-purity Vanadium Pentoxide Sales Price (USD/MT) Trend Table United States High-purity Vanadium Pentoxide Sales Volume (MT) by Players Table United States High-purity Vanadium Pentoxide Sales Volume Market Share by Players Figure United States High-purity Vanadium Pentoxide Sales Volume Market Share by Players in Table United States High-purity Vanadium Pentoxide Sales Volume (MT) by Type Table United States High-purity Vanadium Pentoxide Sales Volume Market Share by Type Figure United States High-purity Vanadium Pentoxide Sales Volume Market Share by Type in Table United States High-purity Vanadium Pentoxide Sales Volume (MT) by Application Table United States High-purity Vanadium Pentoxide Sales Volume Market Share by Application Figure United States High-purity Vanadium Pentoxide Sales Volume Market Share by Application in Figure Europe High-purity Vanadium Pentoxide Sales (MT) and Growth Rate Figure Europe High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Europe High-purity Vanadium Pentoxide Sales Price (USD/MT) Trend Table Europe High-purity Vanadium Pentoxide Sales Volume (MT) by Players Table Europe High-purity Vanadium Pentoxide Sales Volume Market Share by Players Figure Europe High-purity Vanadium Pentoxide Sales Volume Market Share by Players in Table Europe High-purity Vanadium Pentoxide Sales Volume (MT) by Type Table Europe High-purity Vanadium Pentoxide Sales Volume Market Share by Type Figure Europe High-purity Vanadium Pentoxide Sales Volume Market Share by Type in Table Europe High-purity Vanadium Pentoxide Sales Volume (MT) by Application Table Europe High-purity Vanadium Pentoxide Sales Volume Market Share by Application Figure Europe High-purity Vanadium Pentoxide Sales Volume Market Share by Application in Figure China High-purity Vanadium Pentoxide Sales (MT) and Growth Rate Figure China High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure China High-purity Vanadium Pentoxide Sales Price (USD/MT) Trend Table China High-purity Vanadium Pentoxide Sales Volume (MT) by Players Table China High-purity Vanadium Pentoxide Sales Volume Market Share by Players Figure China High-purity Vanadium Pentoxide Sales Volume Market Share by Players in Table China High-purity Vanadium Pentoxide Sales Volume (MT) by Type Table China High-purity Vanadium Pentoxide Sales Volume Market Share by Type Figure China High-purity Vanadium Pentoxide Sales Volume Market Share by Type in Table China High-purity Vanadium Pentoxide Sales Volume (MT) by Application Table China High-purity Vanadium Pentoxide Sales Volume Market Share by Application Figure China High-purity Vanadium Pentoxide Sales Volume Market Share by Application in Figure Japan High-purity Vanadium Pentoxide Sales (MT) and Growth Rate Figure Japan High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Japan High-purity Vanadium Pentoxide Sales Price (USD/MT) Trend Table Japan High-purity Vanadium Pentoxide Sales Volume (MT) by Players Table Japan High-purity Vanadium Pentoxide Sales Volume Market Share by Players Figure Japan High-purity Vanadium Pentoxide Sales Volume Market Share by Players in Table Japan High-purity Vanadium Pentoxide Sales Volume (MT) by Type Table Japan High-purity Vanadium Pentoxide Sales Volume Market Share by Type Figure Japan High-purity Vanadium Pentoxide Sales Volume Market Share by Type in Table Japan High-purity Vanadium Pentoxide Sales Volume (MT) by Application Table Japan High-purity Vanadium Pentoxide Sales Volume Market Share by Application Figure Japan High-purity Vanadium Pentoxide Sales Volume Market Share by Application in Figure Southeast Asia High-purity Vanadium Pentoxide Sales (MT) and Growth Rate Figure Southeast Asia High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure Southeast Asia High-purity Vanadium Pentoxide Sales Price (USD/MT) Trend Table Southeast Asia High-purity Vanadium Pentoxide Sales Volume (MT) by Players Table Southeast Asia High-purity Vanadium Pentoxide Sales Volume Market Share by Players Figure Southeast Asia High-purity Vanadium Pentoxide Sales Volume Market Share by Players in Table Southeast Asia High-purity Vanadium Pentoxide Sales Volume (MT) by Type Table Southeast Asia High-purity Vanadium Pentoxide Sales Volume Market Share by Type Figure Southeast Asia High-purity Vanadium Pentoxide Sales Volume Market Share by Type in Table Southeast Asia High-purity Vanadium Pentoxide Sales Volume (MT) by Application Table Southeast Asia High-purity Vanadium Pentoxide Sales Volume Market Share by Application Figure Southeast Asia High-purity Vanadium Pentoxide Sales Volume Market Share by Application in Figure India High-purity Vanadium Pentoxide Sales (MT) and Growth Rate Figure India High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Figure India High-purity Vanadium Pentoxide Sales Price (USD/MT) Trend Table India High-purity Vanadium Pentoxide Sales Volume (MT) by Players Table India High-purity Vanadium Pentoxide Sales Volume Market Share by Players Figure India High-purity Vanadium Pentoxide Sales Volume Market Share by Players in Table India High-purity Vanadium Pentoxide Sales Volume (MT) by Type Table India High-purity Vanadium Pentoxide Sales Volume Market Share by Type Figure India High-purity Vanadium Pentoxide Sales Volume Market Share by Type in Table India High-purity Vanadium Pentoxide Sales Volume (MT) by Application Table India High-purity Vanadium Pentoxide Sales Volume Market Share by Application Figure India High-purity Vanadium Pentoxide Sales Volume Market Share by Application in Table EVRAZ Basic Information List Table EVRAZ High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure EVRAZ High-purity Vanadium Pentoxide Sales Growth Rate Figure EVRAZ High-purity Vanadium Pentoxide Sales Global Market Share Figure EVRAZ High-purity Vanadium Pentoxide Revenue Global Market Share Table VanadiumCorp Basic Information List Table VanadiumCorp High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure VanadiumCorp High-purity Vanadium Pentoxide Sales Growth Rate Figure VanadiumCorp High-purity Vanadium Pentoxide Sales Global Market Share Figure VanadiumCorp High-purity Vanadium Pentoxide Revenue Global Market Share Table HBIS Group Basic Information List Table HBIS Group High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure HBIS Group High-purity Vanadium Pentoxide Sales Growth Rate Figure HBIS Group High-purity Vanadium Pentoxide Sales Global Market Share (2013-2018 Figure HBIS Group High-purity Vanadium Pentoxide Revenue Global Market Share Table Ironstone Resources Basic Information List Table Ironstone Resources High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure Ironstone Resources High-purity Vanadium Pentoxide Sales Growth Rate Figure Ironstone Resources High-purity Vanadium Pentoxide Sales Global Market Share Figure Ironstone Resources High-purity Vanadium Pentoxide Revenue Global Market Share Table Suzhou Donghua Fangui Basic Information List Table Suzhou Donghua Fangui High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure Suzhou Donghua Fangui High-purity Vanadium Pentoxide Sales Growth Rate Figure Suzhou Donghua Fangui High-purity Vanadium Pentoxide Sales Global Market Share Figure Suzhou Donghua Fangui High-purity Vanadium Pentoxide Revenue Global Market Share Table GfE Basic Information List Table GfE High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure GfE High-purity Vanadium Pentoxide Sales Growth Rate Figure GfE High-purity Vanadium Pentoxide Sales Global Market Share (2013-2018 Figure GfE High-purity Vanadium Pentoxide Revenue Global Market Share Table Hunan Hanrui Basic Information List Table Hunan Hanrui High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure Hunan Hanrui High-purity Vanadium Pentoxide Sales Growth Rate Figure Hunan Hanrui High-purity Vanadium Pentoxide Sales Global Market Share Figure Hunan Hanrui High-purity Vanadium Pentoxide Revenue Global Market Share Table Liaoyang Hengye Basic Information List Table Liaoyang Hengye High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure Liaoyang Hengye High-purity Vanadium Pentoxide Sales Growth Rate Figure Liaoyang Hengye High-purity Vanadium Pentoxide Sales Global Market Share (2013-2018 Figure Liaoyang Hengye High-purity Vanadium Pentoxide Revenue Global Market Share Table Huifeng Energy Basic Information List Table Huifeng Energy High-purity Vanadium Pentoxide Sales (MT), Revenue (Million USD), Price (USD/MT) and Gross Margin Figure Huifeng Energy High-purity Vanadium Pentoxide Sales Growth Rate Figure Huifeng Energy High-purity Vanadium Pentoxide Sales Global Market Share Figure Huifeng Energy High-purity Vanadium Pentoxide Revenue Global Market Share Table Production Base and Market Concentration Rate of Raw Material Figure Price Trend of Key Raw Materials Table Key Suppliers of Raw Materials Figure Manufacturing Cost Structure of High-purity Vanadium Pentoxide Figure Manufacturing Process Analysis of High-purity Vanadium Pentoxide Figure High-purity Vanadium Pentoxide Industrial Chain Analysis Table Raw Materials Sources of High-purity Vanadium Pentoxide Major Players in Table Major Buyers of High-purity Vanadium Pentoxide Table Distributors/Traders List Figure Global High-purity Vanadium Pentoxide Sales Volume (MT) and Growth Rate Forecast (2018-2025) Figure Global High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Forecast (2018-2025) Figure Global High-purity Vanadium Pentoxide Price (USD/MT) and Trend Forecast (2018-2025) Table Global High-purity Vanadium Pentoxide Sales Volume (MT) Forecast by Regions (2018-2025) Figure Global High-purity Vanadium Pentoxide Sales Volume Market Share Forecast by Regions (2018-2025) Figure Global High-purity Vanadium Pentoxide Sales Volume Market Share Forecast by Regions in 2025 Table Global High-purity Vanadium Pentoxide Revenue (Million USD) Forecast by Regions (2018-2025) Figure Global High-purity Vanadium Pentoxide Revenue Market Share Forecast by Regions (2018-2025) Figure Global High-purity Vanadium Pentoxide Revenue Market Share Forecast by Regions in 2025 Figure United States High-purity Vanadium Pentoxide Sales Volume (MT) and Growth Rate Forecast (2018-2025) Figure United States High-purity Vanadium Pentoxide Revenue (Million USD) and Growth Rate Forecast (2018-2025) Figure Europe High-purity Vanadium Pentoxide Sales Volume (MT) and Growth Rate Forecast (2018-2025) Figure Europe High-purity Vanadium Pentoxide Revenu
Major Players in the Global Market
The competitive landscape is dominated by vertically integrated steel and mining giants alongside specialized chemical refiners who possess the proprietary technology required for the complex purification of vanadium slag. The following Key Players are the primary influencers of market supply and pricing:
-
EVRAZ: A dominant global producer with significant assets in Russia and North America, leading the market in both standard and high-purity grades.
-
VanadiumCorp: A specialized resource company focused on developing green technology for vanadium extraction and high-purity electrolyte production.
-
HBIS Group: One of China’s largest steelmakers, which leverages its massive vanadium slag output to produce high-purity oxides for the domestic battery market.
-
Ironstone Resources: An emerging player focused on multi-commodity projects with a strategic emphasis on high-purity vanadium for energy storage.
-
Suzhou Donghua Fangui: A critical Chinese refiner known for producing top-tier purity grades for chemical and catalyst applications.
-
GfE: A European leader in the production of master alloys and high-purity vanadium chemicals, serving the aerospace and medical industries.
-
Hunan Hanrui: A significant Chinese manufacturer specializing in high-purity vanadium chemicals and advanced materials.
-
Liaoyang Hengye: A key player in the Asian market focusing on specialized vanadium derivatives.
-
Huifeng Energy: An integrated company focusing on the intersection of vanadium production and renewable energy storage solutions.
Market Segmentation
The market is categorized by the degree of refinement and the specific requirements of the end-use sectors. These Segments highlight the diverging needs of industrial users:
By Product Type:
-
Purity < 99.6%: Often considered "industrial high purity," used in standard chemical catalysts and certain specialty steels.
-
99.6% ≤ Purity < 99.9%: The standard grade for vanadium redox flow battery electrolytes and high-strength titanium alloys.
-
Purity ≥ 99.9%: The ultra-high-purity tier, required for semiconductor applications, specialized optical coatings, and high-end aerospace components.
By Application:
-
Metallurgy: Specifically high-end metallurgy, such as the production of Grade 5 Titanium (Ti-6Al-4V) used in jet engines and airframes.
-
Vanadium Cell: This application involves the production of electrolytes for VRFBs. It is the fastest-growing segment due to the global push for renewable energy integration.
-
Catalyst: Used primarily in the production of sulfuric acid (via the contact process) and for the reduction of NOx emissions in power plants.
-
Others: Including medical applications, pigments, and advanced electronics.
