Brazil leads the global export of vanadium oxides and hydroxides, holding a significant share of 30.86% in 2024, with a 6.75% year-on-year increase from 2023. Russia and China follow, contributing 22.79% and 17.25% respectively, showing modest growths of 1.61% and 0.59%. South Africa and South Korea also maintain substantial shares, though South Africa experienced a minor decline of 1.09%, while South Korea saw a notable rise of 6.8%. The United States, Thailand, and smaller contributors like the Netherlands, Canada, India, Japan, Belgium, Italy, Poland, Spain, and Switzerland exhibit varied growth trends, with Canada's value rising by 16.34% and Japan's declining by 18.03% in 2023.
Key future trends to watch include potential growth dynamics in emerging exporters like Canada and India, and shifts in market shares due to geopolitical changes impacting leading exporters such as Brazil, Russia, and China. Monitoring technological advancements and environmental regulations will also be crucial as they can affect production and export capacities.
Top countries in Export of Vanadium Oxides and Hydroxides Share by Country (Kilograms)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 30.86 | 2023 | +5.49% | +6.75% | View data |
| 2 | 2 Russia | 22.79 | 2023 | +1.67% | +1.61% | View data |
| 3 | 3 China | 17.25 | 2023 | -0.68% | +0.59% | View data |
| 4 | 4 South Africa | 15.81 | 2023 | -0.15% | -1.09% | View data |
| 5 | 5 South Korea | 7.69 | 2023 | +4.13% | +6.8% | View data |
| 6 | 6 United States | 1.83 | 2023 | -0.73% | -4.19% | View data |
| 7 | 7 Thailand | 1.72 | 2023 | +1.29% | -2.82% | View data |
| 8 | 8 Netherlands | 0.36 | 2023 | -4.53% | -6.49% | View data |
| 9 | 9 Canada | 0.32 | 2023 | +6.24% | +16.34% | View data |
| 10 | 10 India | 0.12 | 2023 | +3.15% | +6.94% | View data |
