What is the current valuation of the US vanadium market as of 2024?

The US vanadium market was valued at 421.08 USD Million in 2024. Read More

What is the projected market valuation for the US vanadium market in 2035?

The projected valuation for the US vanadium market in 2035 is 720.34 USD Million. Read More

What is the expected CAGR for the US vanadium market during the forecast period 2025 - 2035?

The expected CAGR for the US vanadium market during the forecast period 2025 - 2035 is 5.0%. Read More

Which companies are considered key players in the US vanadium market?

Key players in the US vanadium market include Largo Resources Ltd, American Vanadium Corp, and Bushveld Minerals Limited. Read More

What are the primary applications of vanadium in the US market?

Primary applications of vanadium in the US market include steel production, vanadium redox flow batteries, and aerospace. Read More

How does the valuation of vanadium used in steel production compare to other applications?

Valuation for vanadium used in steel production reached 150.0 to 250.0 USD Million, indicating its dominance over other applications. Read More

What is the valuation range for vanadium used in energy storage applications?

The valuation range for vanadium used in energy storage applications is projected to be between 120.0 and 200.0 USD Million. Read More

What forms of vanadium are produced in the US market?

Forms of vanadium produced in the US market include vanadium pentoxide, vanadium ferroalloy, and vanadium oxide. Read More

What is the valuation range for vanadium ferroalloy in the US market?

The valuation range for vanadium ferroalloy in the US market is between 120.0 and 200.0 USD Million. Read More

How does the market for high purity grade vanadium compare to standard grade?

The market for high purity grade vanadium is valued between 80.0 and 130.0 USD Million, whereas standard grade ranges from 100.0 to 170.0 USD Million. Read More

US Vanadium Market

ID: MRFR/CnM/15803-HCR

111 Pages

Chitranshi Jaiswal

Last Updated: May 12, 2026

US Vanadium Market Research Report: By Type (Vanadium Pentoxide, Vanadium Ferrovanadium, Aluminum-Vanadium Alloys, Vanadium Chemicals, Others), By Grade Type (FeV40, FeV50, FeV60, FeV80), By Application (Iron & Steel, Chemical, Energy Storage, Titanium Alloys, Others) and By End-user (Automotive, Chemical, Energy storage, Others) - Forecast to 2035

US Vanadium Market

Market Size

Forecast Period2025 - 2035

CAGR (2025 - 2035)5.0%

2024 Market Size$ 382.8 Million

2025 Market Size$ 401.94 Million

2035 Market Size$ 654.86 Million

Key Players

Largo Resources Ltd.

VanadiumCorp Resource Inc.

Bushveld Minerals Limited

American Vanadium Corp.

Strategic Minerals Plc

TNG Limited

Trends

Rising Demand for Energy Storage Solutions
Focus on Domestic Production
Utilization in Construction and Steel Production

Opportunities

Global Supply Chain Dynamics
Government Incentives for Clean Energy
Rising Demand in Aerospace and Defense

Summary Table of Contents Segmentation Download PDF

SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS |
1. 1.1 EXECUTIVE SUMMARY | |
  1. 1.1.1 Market Overview | |
  2. 1.1.2 Key Findings | |
  3. 1.1.3 Market Segmentation | |
  4. 1.1.4 Competitive Landscape | |
  5. 1.1.5 Challenges and Opportunities | |
  6. 1.1.6 Future Outlook 2
SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE |
1. 2.1 MARKET INTRODUCTION | |
  1. 2.1.1 Definition | |
  2. 2.1.2 Scope of the study | | |
    1. 2.1.2.1 Research Objective | | |
    2. 2.1.2.2 Assumption | | |
    3. 2.1.2.3 Limitations |
2. 2.2 RESEARCH METHODOLOGY | |
  1. 2.2.1 Overview | |
  2. 2.2.2 Data Mining | |
  3. 2.2.3 Secondary Research | |
  4. 2.2.4 Primary Research | | |
    1. 2.2.4.1 Primary Interviews and Information Gathering Process | | |
    2. 2.2.4.2 Breakdown of Primary Respondents | |
  5. 2.2.5 Forecasting Model | |
  6. 2.2.6 Market Size Estimation | | |
    1. 2.2.6.1 Bottom-Up Approach | | |
    2. 2.2.6.2 Top-Down Approach | |
  7. 2.2.7 Data Triangulation | |
  8. 2.2.8 Validation 3
SECTION III: QUALITATIVE ANALYSIS |
1. 3.1 MARKET DYNAMICS | |
  1. 3.1.1 Overview | |
  2. 3.1.2 Drivers | |
  3. 3.1.3 Restraints | |
  4. 3.1.4 Opportunities |
2. 3.2 MARKET FACTOR ANALYSIS | |
  1. 3.2.1 Value chain Analysis | |
  2. 3.2.2 Porter's Five Forces Analysis | | |
    1. 3.2.2.1 Bargaining Power of Suppliers | | |
    2. 3.2.2.2 Bargaining Power of Buyers | | |
    3. 3.2.2.3 Threat of New Entrants | | |
    4. 3.2.2.4 Threat of Substitutes | | |
    5. 3.2.2.5 Intensity of Rivalry | |
  3. 3.2.3 COVID-19 Impact Analysis | | |
    1. 3.2.3.1 Market Impact Analysis | | |
    2. 3.2.3.2 Regional Impact | | |
    3. 3.2.3.3 Opportunity and Threat Analysis 4
SECTION IV: QUANTITATIVE ANALYSIS |
1. 4.1 Chemicals and Materials, BY Application (USD Million) | |
  1. 4.1.1 Steel Production | |
  2. 4.1.2 Vanadium Redox Flow Battery | |
  3. 4.1.3 Aerospace | |
  4. 4.1.4 Chemical Processing | |
  5. 4.1.5 Alloy Production |
2. 4.2 Chemicals and Materials, BY End Use (USD Million) | |
  1. 4.2.1 Construction | |
  2. 4.2.2 Energy Storage | |
  3. 4.2.3 Automotive | |
  4. 4.2.4 Electronics | |
  5. 4.2.5 Defense |
3. 4.3 Chemicals and Materials, BY Form (USD Million) | |
  1. 4.3.1 Vanadium Pentoxide | |
  2. 4.3.2 Vanadium Ferroalloy | |
  3. 4.3.3 Vanadium Oxide | |
  4. 4.3.4 Vanadium Chloride | |
  5. 4.3.5 Vanadium Sulfate |
4. 4.4 Chemicals and Materials, BY Source (USD Million) | |
  1. 4.4.1 Primary Vanadium Mining | |
  2. 4.4.2 Recycling | |
  3. 4.4.3 Secondary Vanadium Production | |
  4. 4.4.4 Byproduct Recovery | |
  5. 4.4.5 Synthetic Production |
5. 4.5 Chemicals and Materials, BY Purity Level (USD Million) | |
  1. 4.5.1 Standard Grade | |
  2. 4.5.2 High Purity Grade | |
  3. 4.5.3 Ultra High Purity Grade | |
  4. 4.5.4 Technical Grade | |
  5. 4.5.5 Commercial Grade 5
SECTION V: COMPETITIVE ANALYSIS |
1. 5.1 Competitive Landscape | |
  1. 5.1.1 Overview | |
  2. 5.1.2 Competitive Analysis | |
  3. 5.1.3 Market share Analysis | |
  4. 5.1.4 Major Growth Strategy in the Chemicals and Materials | |
  5. 5.1.5 Competitive Benchmarking | |
  6. 5.1.6 Leading Players in Terms of Number of Developments in the Chemicals and Materials | |
  7. 5.1.7 Key developments and growth strategies | | |
    1. 5.1.7.1 New Product Launch/Service Deployment | | |
    2. 5.1.7.2 Merger & Acquisitions | | |
    3. 5.1.7.3 Joint Ventures | |
  8. 5.1.8 Major Players Financial Matrix | | |
    1. 5.1.8.1 Sales and Operating Income | | |
    2. 5.1.8.2 Major Players R&D Expenditure. 2023 |
2. 5.2 Company Profiles | |
  1. 5.2.1 Largo Resources Ltd (CA) | | |
    1. 5.2.1.1 Financial Overview | | |
    2. 5.2.1.2 Products Offered | | |
    3. 5.2.1.3 Key Developments | | |
    4. 5.2.1.4 SWOT Analysis | | |
    5. 5.2.1.5 Key Strategies | |
  2. 5.2.2 American Vanadium Corp (CA) | | |
    1. 5.2.2.1 Financial Overview | | |
    2. 5.2.2.2 Products Offered | | |
    3. 5.2.2.3 Key Developments | | |
    4. 5.2.2.4 SWOT Analysis | | |
    5. 5.2.2.5 Key Strategies | |
  3. 5.2.3 VanadiumCorp Resource Inc (CA) | | |
    1. 5.2.3.1 Financial Overview | | |
    2. 5.2.3.2 Products Offered | | |
    3. 5.2.3.3 Key Developments | | |
    4. 5.2.3.4 SWOT Analysis | | |
    5. 5.2.3.5 Key Strategies | |
  4. 5.2.4 Bushveld Minerals Limited (GB) | | |
    1. 5.2.4.1 Financial Overview | | |
    2. 5.2.4.2 Products Offered | | |
    3. 5.2.4.3 Key Developments | | |
    4. 5.2.4.4 SWOT Analysis | | |
    5. 5.2.4.5 Key Strategies | |
  5. 5.2.5 Ferroalloy Resources Limited (GB) | | |
    1. 5.2.5.1 Financial Overview | | |
    2. 5.2.5.2 Products Offered | | |
    3. 5.2.5.3 Key Developments | | |
    4. 5.2.5.4 SWOT Analysis | | |
    5. 5.2.5.5 Key Strategies | |
  6. 5.2.6 TNG Limited (AU) | | |
    1. 5.2.6.1 Financial Overview | | |
    2. 5.2.6.2 Products Offered | | |
    3. 5.2.6.3 Key Developments | | |
    4. 5.2.6.4 SWOT Analysis | | |
    5. 5.2.6.5 Key Strategies | |
  7. 5.2.7 Strategic Minerals Plc (GB) | | |
    1. 5.2.7.1 Financial Overview | | |
    2. 5.2.7.2 Products Offered | | |
    3. 5.2.7.3 Key Developments | | |
    4. 5.2.7.4 SWOT Analysis | | |
    5. 5.2.7.5 Key Strategies | |
  8. 5.2.8 Alderon Iron Ore Corp (CA) | | |
    1. 5.2.8.1 Financial Overview | | |
    2. 5.2.8.2 Products Offered | | |
    3. 5.2.8.3 Key Developments | | |
    4. 5.2.8.4 SWOT Analysis | | |
    5. 5.2.8.5 Key Strategies |
3. 5.3 Appendix | |
  1. 5.3.1 References | |
  2. 5.3.2 Related Reports 6 LIST OF FIGURES |
4. 6.1 MARKET SYNOPSIS |
5. 6.2 US MARKET ANALYSIS BY APPLICATION |
6. 6.3 US MARKET ANALYSIS BY END USE |
7. 6.4 US MARKET ANALYSIS BY FORM |
8. 6.5 US MARKET ANALYSIS BY SOURCE |
9. 6.6 US MARKET ANALYSIS BY PURITY LEVEL |
10. 6.7 KEY BUYING CRITERIA OF CHEMICALS AND MATERIALS |
11. 6.8 RESEARCH PROCESS OF MRFR |
12. 6.9 DRO ANALYSIS OF CHEMICALS AND MATERIALS |
13. 6.10 DRIVERS IMPACT ANALYSIS: CHEMICALS AND MATERIALS |
14. 6.11 RESTRAINTS IMPACT ANALYSIS: CHEMICALS AND MATERIALS |
15. 6.12 SUPPLY / VALUE CHAIN: CHEMICALS AND MATERIALS |
16. 6.13 CHEMICALS AND MATERIALS, BY APPLICATION, 2024 (% SHARE) |
17. 6.14 CHEMICALS AND MATERIALS, BY APPLICATION, 2024 TO 2035 (USD Million) |
18. 6.15 CHEMICALS AND MATERIALS, BY END USE, 2024 (% SHARE) |
19. 6.16 CHEMICALS AND MATERIALS, BY END USE, 2024 TO 2035 (USD Million) |
20. 6.17 CHEMICALS AND MATERIALS, BY FORM, 2024 (% SHARE) |
21. 6.18 CHEMICALS AND MATERIALS, BY FORM, 2024 TO 2035 (USD Million) |
22. 6.19 CHEMICALS AND MATERIALS, BY SOURCE, 2024 (% SHARE) |
23. 6.20 CHEMICALS AND MATERIALS, BY SOURCE, 2024 TO 2035 (USD Million) |
24. 6.21 CHEMICALS AND MATERIALS, BY PURITY LEVEL, 2024 (% SHARE) |
25. 6.22 CHEMICALS AND MATERIALS, BY PURITY LEVEL, 2024 TO 2035 (USD Million) |
26. 6.23 BENCHMARKING OF MAJOR COMPETITORS 7 LIST OF TABLES |
27. 7.1 LIST OF ASSUMPTIONS | |
  1. 7.1.1 |
28. 7.2 US MARKET SIZE ESTIMATES; FORECAST | |
  1. 7.2.1 BY APPLICATION, 2025-2035 (USD Million) | |
  2. 7.2.2 BY END USE, 2025-2035 (USD Million) | |
  3. 7.2.3 BY FORM, 2025-2035 (USD Million) | |
  4. 7.2.4 BY SOURCE, 2025-2035 (USD Million) | |
  5. 7.2.5 BY PURITY LEVEL, 2025-2035 (USD Million) |
29. 7.3 PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL | |
  1. 7.3.1 |
30. 7.4 ACQUISITION/PARTNERSHIP | |

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US US Vanadium Market Segmentation

US Vanadium Market By Application (USD Million, 2025-2035)

Steel Production
Vanadium Redox Flow Battery
Aerospace
Chemical Processing
Alloy Production

US Vanadium Market By End Use (USD Million, 2025-2035)

Construction
Energy Storage
Automotive
Electronics
Defense

US Vanadium Market By Form (USD Million, 2025-2035)

Vanadium Pentoxide
Vanadium Ferroalloy
Vanadium Oxide
Vanadium Chloride
Vanadium Sulfate

US Vanadium Market By Source (USD Million, 2025-2035)

Primary Vanadium Mining
Recycling
Secondary Vanadium Production
Byproduct Recovery
Synthetic Production

US Vanadium Market By Purity Level (USD Million, 2025-2035)

Standard Grade
High Purity Grade
Ultra High Purity Grade
Technical Grade
Commercial Grade

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