Will vanadium flow battery demand squeeze underlying supply fundamentals?

Instead, it is new demand from the vanadium flow battery market that is expected to squeeze the underlying supply fundamentals.

Will vanadium supply increase in 2022-2030?

With steel still dominating vanadium demand (accounting for 94% of US consumption in 2023), this surge in battery use is expected to put significant pressure on supply. To meet this growing demand, global vanadium supply will need to increase by 6.9% annually between 2022-2030.

Why are vanadium batteries so popular?

The batteries rely on vanadium’s almost unique ability to exist in four stable oxidation states, which enables energy to be stored and discharged repeatedly without degradation. Historically, vanadium demand has tracked closely with industrial output and infrastructure spending, particularly in emerging markets. The main drivers:

Is vanadium a redox flow battery?

But vanadium’s relevance is expanding, in particular, as the active element in vanadium redox flow batteries (VRFBs), a leading non-lithium energy storage technology.

Will the vanadium market be in deficit after 2025?

Without any significant new supply coming online CRU analysis expects the vanadium market to be in deficit after 2025. “We are estimating a global supply deficit in 2025 due to change in rebar standards and rise in vanadium battery demand, causing vanadium prices to rise.

Will Vanadium prices rise in 2025?

“We are estimating a global supply deficit in 2025 due to change in rebar standards and rise in vanadium battery demand, causing vanadium prices to rise. As more supply comes online in 2026 and 2027, by 2027 vanadium prices will come down when compared to 2025 prices, but crucially remain higher than the pricing in the last 12 months”