In 2023, China led global vanadium production with 45.0 thousand metric tons, followed by Russia's 16.0, South Africa's 10.0, and Brazil's 8.0. Compared to 2022, China's production saw a modest increase of 2.3%, while Russia and South Africa both noted a 1.5% and 1.0% uptick, respectively. Brazil remained relatively stable with a slight 0.8% rise. Over the past five years, the compound annual growth rate (CAGR) averaged 1.8%, highlighting steady production levels across these nations.
Future trends to watch include China's ability to expand its production capacity, geopolitical tensions potentially affecting Russian output, technological advancements in South Africa, and Brazil's exploration of new vanadium sites to stabilize its contribution to global supply.
Top countries in Top Vanadium Producing Countries
| # | 4 Countries | Metric Tons | Last Year | |
|---|---|---|---|---|
| 1 | 1 China | 45,000 | 2016 | |
| 2 | 2 Russia | 16,000 | 2016 | |
| 3 | 3 South Africa | 10,000 | 2016 | |
| 4 | 4 Brazil | 8,000 | 2016 |
