The application space of vanadium pentoxide is expanding and the industry scale will continue to expand

Vanadium pentoxide is the oxide of vanadium (V). It is a toxic orange-yellow solid. It is soluble in concentrated acid and alkali, slightly soluble in water, and insoluble in absolute ethanol. It loses oxygen and decomposes when heated. Vanadium pentoxide is an important industrial catalyst that can replace metal platinum as a catalyst for the oxidation of sulfur dioxide into sulfur trioxide. Vanadium pentoxide is widely used in metallurgy, chemical industry, pharmaceuticals, water treatment, ceramics, electronics and other fields. Currently, it is mainly used as an alloy additive in the metallurgical field, accounting for more than 90% of the total.

In recent years, with the development of the steel industry, the market demand for vanadium pentoxide has continued to rise. In 2021, my country’s apparent consumption of vanadium pentoxide reached 136,000 tons. The output of vanadium pentoxide is related to vanadium ore, and my country is rich in vanadium ore resources. According to USGS data, in 2021, the output of China’s vanadium ore industry was 73,000 tons, accounting for 66.4% of the world’s total production, ranking first in the world.

According to the “2022 Vanadium Pentoxide Industry Investment Feasibility Analysis Report released by the Industrial Research Center, relying on rich vanadium ores Resources, the scale of my country’s vanadium pentoxide industry continues to expand. In 2021, the production capacity and output of my country’s vanadium pentoxide industry will be 171,000 tons and 134,000 tons respectively. In recent years, the Chinese government has vigorously supported the development of the vanadium battery industry, and the application space of vanadium pentoxide has continued to expand. It is expected that the output of my country’s vanadium pentoxide industry will increase to 186,000 tons in 2026.

From the perspective of production capacity distribution, my country’s vanadium pentoxide production capacity is mainly distributed in Hebei, Sichuan and other regions. Large-scale domestic production companies mainly include Panzhihua Iron and Steel Vanadium Titanium, Western Mining, Hegang Group Chenggang, Beijing Jianlong Heavy Industry, Chengdu Chongqing Vanadium Titanium, Sichuan Desheng Group, etc. Under the strategic background of “carbon neutrality and carbon peaking”, the environmental protection requirements of the vanadium pentoxide industry have increased. In the future, backward production capacity will accelerate its withdrawal from the market, and environmental protection and standardization will become the main theme of industry development.

my country is a major producer of vanadium pentoxide, and the supply in the domestic market is relatively stable. In 2020, due to the impact of the COVID-19 epidemic, international steel production was greatly affected, and the international demand for vanadium pentoxide declined. In order to expand the market, overseas companies actively deployed in the domestic market. Therefore, my country’s import volume of vanadium pentoxide has increased significantly in 2020, and the import volume is higher than the export volume. But overall, except for 2020, my country’s vanadium pentoxide import and export market has been in a trade surplus for a long time. According to data from the General Administration of Customs, from January to June 2022, my country’s vanadium pentoxide export volume was 2,503.3 tons. , the import volume was 120.2 tons.

Industry analysts said that vanadium pentoxide is widely used in metallurgy, chemical industry, pharmaceuticals, water treatment and other fields, and my country’s vanadium ore resources Abundant, the market supply of vanadium pentoxide is relatively balanced, and the production capacity not only meets the domestic market demand, but also exports to overseas markets. The scale of my country’s vanadium pentoxide industry continues to expand. As environmental protection supervision becomes increasingly strict, the development of the vanadium pentoxide industry will be upgraded in the direction of standardization and environmental protection.