A market in transformation
The global vanadium market is at a turning point. While demand from steel is stagnating, demand of vanadium based flow batteries is rising. Combined with mounting supply side pressures, these trends are reshaping the industry over the coming decade.
As the future of pricing and supply security looks increasingly uncertain, CRU’s Vanadium Special Report 2026 provides the data-led view you need to navigate this new market reality.
Why This Matters Now
As the landscape shifts, critical strategic questions emerge. When will prices see a sustained recovery? How quickly will VRFBs become a significant demand driver?
The choices that companies across the value chain make today on production, investment, and technology will directly influence their competitiveness through to 2040.
What is inside the Special Report?
CRU’s Vanadium Special Report 2026 delivers comprehensive analysis and data-driven forecasts to guide your strategy:
- Market Spotlight: A deep dive into the central theme of market recovery. Providing you with quantitative and qualitative analysis of the low-price environment, the conditions for a sustained recovery, and the impact of Chinese electrolyte projects and VRFB developments.
- Demand Outlook (2020–2040): Global vanadium demand forecasts by end-use (steel, batteries, chemicals, aerospace) and by region, including deep analysis of vanadium steel intensity.
- Supply Outlook (to 2030): A global project pipeline and detailed outlooks for supply by production route (primary, co-product, secondary).
- Market Balance and Prices (to 2040): Our expert view on the vanadium market balance, plus annual price forecasts for V₂O₅ and FeV, outlining the supply gap and key upside/downside risks.
Appendix: Includes CRU’s producer/project tracker, a Vanadium 101 guide, and a full methodology outline, plus a supporting data pack in Excel.
