What is vanadium
Vanadium is a hard, silvery-grey transition metal that resists corrosion. It is electrically conductive and thermally insulating.
About 80% of the vanadium produced is used as a steel additive. Vanadium-steel alloys are very tough and are used across a range of high-tech steel alloys and tools. Less than 1% of vanadium, and a little chromium, makes steel shock resistant and vibration resistant.
The Vanadium Redox Flow Battery is an emerging market which is growing significantly and offers major benefits in large scale energy storge solutions with many benefits over Lithium-ion.
VANADIUM USES INCLUDE
Vanadium Redox flow batteries (VRFB’s) create a reliable, safe and stable solution for the storage of renewable energy. They have a low-charge-time, are lightweight and are the most efficient battery technology suitable for utility scale renewable energy storge for both wind and solar.
VRFB’s are a developing market as an alternate solution to lithium-ion (“Li-ion”) in specific large energy storage applications. Guidehouse Insights Market Intelligence White Paper2I published in 2Q 2022 forecasts the VRFB sector to grow >900% by 2031 through the installation of large, fixed storage facilities.
The construction sector is the largest consumer of steel, with Vanadium being highly sought after in this sector. Vanadium alloy steel is a safe, reliable and cost effective solution for reinforced concrete construction, and is particularly sought after in the worlds earthquake prone regions. The addition of Vanadium to reinforcing bar (rebar) used in the building construction reduces the need for carbon intensive concrete whilst maintaining the buildings strength. Many countries have legislated minimum quantities of Vanadium to be used in the steel used for construction to ensure buildings are built to the required safe standards.
Master Alloys are used in aircraft engines, aerospace cabins, steam turbine blades, rocket engines shells and many other aerospace applications.
OIL AND GAS
High strength, tough and weldable HSLA plate and coil steels containing vanadium are widely used for oil and gas transmission pipelines.
Vanadium is used to treat a number of ailments, including diabetes, heart disease and high cholesterol. It has also been used in the cathodes of batteries for implantable cardioverter defibrillators.
Vanadium steel alloys’ strength means that they are perfectly suited to the creation of tools, axles, piston rods and as girders in construction.