Vanadium Material File
The Netherlands Materials Observatory (NMO) publishes material files (in Dutch) that provide insight into the availability, applications and strategic relevance of specific materials. This report focuses on vanadium and brings together up-to-date, carefully analysed information relevant to government policy-making and decision-making in industry.
Applications
Around 90% of the vanadium produced worldwide is processed into ferro-vanadium. The main application of vanadium (and therefore also of ferro-vanadium) is in steel production, where it enhances the hardness and strength of the final steel product. In addition, there is an emerging market for Vanadium Redox Flow Batteries (VRFBs) for (renewable) energy storage.
Export restrictions
Since 2025, Japan and the US have required export licences for a wide range of products, including vanadium oxides and ferro-vanadium, to prevent high-risk countries from using them for dual-use applications.
Price trends
The price of vanadium pentoxide (V2O5) has fluctuated between less than 5 USD and more than 25 USD per pound (1 lb ~ 0.4536 kg) over the last 20 years. Market and price volatility are directly linked to developments in Chinese construction and infrastructure and new Chinese steel requirements for reinforcing steel.
Production and processing
Extraction
Vanadium production takes place in China (~67%), Russia (~20%), South Africa (~8%) and Brazil (~5%), with global production of ~100,000 tonnes. It is mainly produced as a by-product (~70%) during iron ore mining, in which (titanium-rich) magnetite is extracted.
Exploration
There are a number of exploration projects targeting vanadium-titanium magnetite (‘VTM’) with substantial resources, which focus, among other things, on extracting vanadium for high-purity vanadium electrolyte (‘VE’) for vanadium-redox flow batteries (VRFB).
Reserves
From a geological perspective, there is no shortage of global vanadium resources, and Europe can (also) make a significant contribution to vanadium production and processing.
Processing
Vanadium is mainly produced as a by-product during the processing of vanadium-titanium-rich iron ore.
Recycling
Recycling of vanadium-containing products accounts for approximately 40% (US) to 44% (EU) of the total supply chain, with the emphasis on vanadium-containing steel scrap.
The Netherlands’ role in trade and use
Dutch imports and exports
The Netherlands plays a relatively significant role in the trade of vanadium oxides, vanadium hydroxides and ferrovanadium: for both products, The Netherlands ranks among the top six gross exporters and importers worldwide.
Various companies in the Port of Rotterdam are involved in the storage and distribution of ferrovanadium. Adjusted for re-exports, the Netherlands is a net exporter of ferro-vanadium.
Origin of Dutch imports
Between 2019 and 2023, The Netherlands imported vanadium oxides and hydroxides mainly from Brazil (60%) and South Africa (31%).
Applications in The Netherlands
Tata Steel IJmuiden is expected to be the main Dutch user of ferro-vanadium for steel alloys. Chemical companies in Rotterdam, Botlek and Chemelot are also likely to use vanadium oxides as catalysts for the production of sulphuric acid and the reduction of NOx emissions.
Requests and conditions
This material file is only in Dutch and available exclusively on request to businesses and government bodies. The NMO makes the information in this file available, without obligation, to organisations active in the industry for which the content is relevant.
Organisations interested in one or more material dossiers can submit a request by sending an email via the button below. Please state in your email which file(s) you wish to receive. A member of the NMO team will then contact you to discuss the request in further detail.