Key Market Indicators
Russia's import and export of vanadium are expected to reach about 3.4 million and 9.8 million kilograms, respectively, by 2026. This is an average annual growth rate of 2.3% and 1.4%, respectively, since 2001. In 2021, Russia ranked fifth in terms of imports, with India leading the way at nearly 3 million kilograms. South Korea, the United States and India followed in second, third and fourth places. In terms of exports, Brazil was in the lead in 2021 with 9.1 million kilograms, while Russia, China and South Africa followed in second, third and fourth places. Since 2001, Russia's supply of vanadium has grown by 5.8% year on year.