In 2023, Brazil led the global exports of vanadium oxides and hydroxides, contributing over $416 million, followed by significant outputs from Russia, South Africa, and China. The majority of countries experienced modest increases, with Brazil and South Korea seeing the highest positive changes at approximately 3.17% and 3.14%, respectively. However, the United States and Switzerland saw notable declines of over 3.8% and 16.17%. Canada showed the most significant growth at 17.17%. The largest decrease was observed in Spain, dropping by 35.86%.
Future trends to watch include:
- Potential shifts in export dynamics due to geopolitical changes, particularly affecting Russia and China.
- Technological advancements in extraction and processing, potentially increasing output efficiency.
- Increasing demand driven by high-tech industries and energy storage applications, fostering greater exports.
- Environmental regulations influencing production and export capacities, especially in developed economies.
Top countries in Export of Vanadium Oxides and Hydroxides by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 416,700,000 | 2023 | +6.42% | +3.17% | View data |
| 2 | 2 Russia | 284,380,000 | 2023 | +5.22% | +1.21% | View data |
| 3 | 3 South Africa | 255,930,000 | 2023 | +5.15% | +1.09% | View data |
| 4 | 4 China | 244,610,000 | 2023 | +4.1% | +0.12% | View data |
| 5 | 5 South Korea | 30,424,000 | 2023 | +5.56% | +3.14% | View data |
| 6 | 6 United States | 7,752,700 | 2023 | -0.48% | -3.81% | View data |
| 7 | 7 Netherlands | 7,496,000 | 2023 | +3.87% | -0.99% | View data |
| 8 | 8 Thailand | 4,710,500 | 2023 | +3.62% | -1.74% | View data |
| 9 | 9 Japan | 2,120,200 | 2023 | -1.8% | -5.3% | View data |
| 10 | 10 India | 1,135,400 | 2023 | +5.16% | +5.2% | View data |
