NEW YORK, Jan. 8, 2015 /PRNewswire/ -- The world's recoverable vanadium reserves so far has been recorded at 14 million tons, mainly found in China, Russia, South Africa and other countries. In 2013, roughly 151,000 tons of vanadium (V2O5 Equivalent) was produced worldwide, up 11% year on year. The global vanadium consumption increased at an AAGR of 6.7% during the period 2001-2013, of which, the iron and steel industry as the biggest consumer accounted for more than 90% in 2013, followed by vanadium-titanium alloy and chemical industry.
China, the world's largest vanadium-producing country with a capacity of over 100 kt/a, contributed 57% to the world's vanadium (V2O5 Equivalent) production in 2013. It also has the fastest-growing and highest consumption of vanadium products in the world, with vanadium (V2O5 Equivalent) consumption rising from 5.3 kilotons to 57 kilotons in 2001-2013 (an AAGR of 22% or so) as a result of promotion and use of vanadium-containing high-strength deformed steel bars grade III and grade IV.
China's vanadium industry is highly concentrated in Pangang Group Vanadium Titanium & Resources Co., Ltd., Hebei Iron & Steel Group Co., Ltd. and other big steelmakers since most of the early vanadium ore investors such as Xining Special Steel Co., Ltd., Zhejiang Hailiang Co., Ltd. and Shanghai Dingli Technology Development (Group) Co., Ltd. haven't entered substantial production yet.
Pangang Group Vanadium Titanium & Resources as China's largest vanadium production enterprise now boasts a production capacity of 20 kt/a vanadium product (V2O5 Equivalent). Besides, it is the only high-vanadium ferroalloy (FeV80) manufacturer there. In the first half of 2014, the company's vanadium products reaped RMB1.61 billion in revenue, down 4.8% year on year.
Hebei Iron & Steel is one of the largest vanadium-titanium production bases in China. It now has six vanadium-nitrogen alloy production lines, with products exported to more than 10 countries and regions, representing an approximately 8% share in global vanadium market. The company's revenue from vanadium products in the first half of 2014 was RMB388 million, up 2.4% year on year.
Global and China Vanadium Industry Report, 2014-2017 by ResearchInChina focuses on the followings:
Vanadium ore resources and output, demand and price of vanadium products in the world;
Vanadium ore resources and supply & demand, price, import & export of vanadium products in China;
Profile, operation, vanadium business and others of four global manufacturers of vanadium products (Atlantic Ltd, Highveld Steel and Vanadium Corporation, EVRAZ and Vanadium Corp);
Profile, operation, vanadium business and others of eight Chinese manufacturers of vanadium products (such as Pangang Group Vanadium Titanium & Resources, Hebei Iron & Steel, Xining Special Steel, and so on).
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