Primary Uses of Vanadium

Primary uses of Vanadium

Vanadium has one predominant use, as a strengthening additive in steel and some forms of iron. According to the US Geological Survey (USGS) (2007), of the approximate 59,100 tonnes of vanadium produced in 2007, about 85% of this metal is used as a steel additive. In their 2008 update, the USGS notes that 93% of US consumption of V is metallurgical, including steel, iron and titanium alloys. By adding small amounts of V, no more than 0.25% by weight to high-carbon steel or less than 5% by weight to steel intended for use in high-speed tools, the hardness and strength of the steel is significantly enhanced.

Of the other uses for vanadium, the major nonmetallurgical use was in catalysts for the production of maleic anhydride and sulfuric acid.

 A new use has been found in Vanadium Redox Batteries (VRB), which are flow batteries designed to store large amounts of energy in a safe manner that can be adjusted to meet variable energy loads.

The VRB can be described in several ways. It is:

 An electrochemical system that efficiently converts chemical energy to electrical energy, and vice versa
A ‘flow battery' that rapidly charges and discharges
A patented process based on the reduction and oxidation of different forms of the element Vanadium
An on-demand energy storage system where:
A) The electrolyte never wears out and overall maintenance costs are extremely low;
B) Energy (electricity) can be stored in liquid form, at room temperature, almost indefinitely; and
C) Customers do not have to buy more capacity than they immediately need, and can easily add energy and power in modular fashion over time.

Energy from wind turbines and solar cells can also be stored in VRBs.

Application of Vanadium Redox Batteries
The extremely large capacities possible from vanadium redox batteries make them well suited to use in large power storage applications such as helping to average out the production of highly variable generation sources such as wind or solar power, or to help generators cope with large surges in demand.

 

Electric Power Table


 

Resource Investor has published an article on Vanadium entitled "Vanadium boost would give batteries more juice". Please click here to view the article.

Industry News

  • Predicted key drivers for growth in the vanadium market are expected to be:

 

-    Growth from Brazil, Russia, India, China
-    Demand increase for  high strength low alloy steel, which contains vanadium
-    Vanadium batteries
-    Mature economies forecast higher intensity use of vanadium in steels than industrialising countries

  • Strong demand is expected to support high vanadium prices over the next decade.
  • Roskill assessment forecasts Ferro-Vanadium prices could move back to US$75/kg by 2015
  • Over the last 10 years vanadium demand grew at a rate of 13 percent p.a.