Vanadium market expected to achieve 3.2% CAGR to 2027

Diversified miner Bushveld Minerals expects the vanadium market to expand by a compound annual growth rate (CAGR) of 3.2% between 2017 and 2017, on the back of strong steel demand and a growing energy storage market, Bushveld Minerals CEO and cofounder Fortune Mojapelo said in a webcast on Thursday. Mojapelo noted that vanadium was the best performing battery metal for 2017, growing by 72%, and that it had achieved “fivefold” growth since 2015.