Scandium Market - Forecast(2023 - 2028)

Report Code: CMR 96957 Report Format: PDF + Excel

Overview

Scandium Market size is valued at $69.7 million in 2019 growing at a CAGR over 10% to reach the market size of $104 million in 2025. Growing use in solid oxide fuel cells (SOFCs) and rising demand for aluminum-scandium alloys are the major factors driving the scandium industry. Nonetheless, lack of awareness, high cost, and erratic supply limit market growth.

In lamps used in film and photography, scandium iodide is used as it helps in generate light that is similar in tone to sunlight. It is also used for the same reason in metal-halide lamps, which due to their higher efficiency are increasingly being used instead of mercury-vapor lamps. Scandium is a pure, slightly soft, silvery metal. It is relatively stable in air, but due to surface formation it will slowly change its color from silvery white to a yellowish appearance. The metal dissolves gradually in diluted acids – except for hydrofluoric acid (HF), in which a protective layer of trifluoride prevents further reaction.

Report Coverage

The report: “Scandium Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Scandium Industry.


Key Takeaways

During the forecast period, the shifting focus to use in the automotive industry and the rise of Australia as a new growth center are expected to provide prospects for the market being studied.

The industry was dominated by the aerospace and defense segment. During the forecast period, it is likely to grow, with rising aircraft production worldwide.

By End Use Industries - Segment Analysis

Aerospace and Defense Segment to Dominate the Market. One of scandium's most important uses is the preparation of aluminum-scandium alloy, which is used in aircraft manufacture in the aerospace industry. Adding aluminum scandium helps to increase toughness, heat resistance, expand weldability and weld strength to a variety of aluminum alloy materials. According to the aircraft manufacturers, roughly 0.1-0.5 percent trace amount of aluminum added scandium will help not only improve aluminum capacity, but also help to reduce aircraft weight by 15 percent. With rising security concerns and increasing commercial use of aircraft as a means of transportation, worldwide demand for aircraft has increased. As a result, different aircraft production orders are planned for expected delivery in the coming years to deliver orders from the aerospace and defense industries.

Geography - Segment Analysis

In 2019, the APAC region is dominated the global market with a share of 37%. The rising development and production in end-user industries such as aerospace & defense, telecommunications, ceramics, etc. is driving the region's demand for scandium. In terms of defense spending, the Asia-Pacific region consists of four of the top ten countries. With the rise in violence and rising security concerns in the region, investment has increased in recent years. In defense spending, China is just behind the U.S. China is the region's largest aircraft manufacturer and invests heavily in aerospace & defense research, growth & technology. In addition, countries such as India and South Korea are also seeing a significant increase in scandium production. The market for scandium is driven by growing investment & development in the electronics industry in India and South Korea, increased defense spending, and raising ceramic demand & output. All of these factors are expected to drive the region's demand for the scandium market.

Drivers – Scandium Market

The growing development in solid oxide fuel cell for high energy saving leads the market growth.

The growing demand for energy diversification and the employment of alternative energy sources, propel the market growth rapidly. In a world of post-climate change where the risks of increasing carbon emissions, extreme weather events, and a fragile infrastructure are more urgent than ever before, companies and societies need three things: more sustainable electricity, more efficient resources, and cleaner energy. To fill this need, fuel cells are located in a unique position. The increasing production of electricity and the rising technology to store that energy up to high level have increased the growth opportunity of scandium industry.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Scandium market. In 2019, the market of Scandium has been consolidated by the top five players accounting for xx% of the market share. Scandium Market top 10 companies are Scandium International Mining Corp, Platina Resources Ltd, CleanTeq, Australian Mines Ltd, and Alfa Aesar, among others.

1. Scandium Market - Overview
        1.1 Definitions and Scope
2. Scandium Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Scandium Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Scandium Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Scandium Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Scandium Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Scandium Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Scandium Market - By Product Type(Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
8.3.1 Oxide
8.3.2 Fluoride
8.3.3 Chloride
8.3.4 Nitrate
8.3.5 Iodide
8.3.6 Alloy
8.3.7 Carbonate and Others
9. Scandium Market - End-User industry (Market Size -$Million / $Billion)
9.1 Aerospace and Defense
9.2 Solid Oxide Fuel Cells
9.3 Electronics
9.4 Ceramics
9.5 Lighting
9.6 Phosphorous Crt (Displays)
9.7 3D Printing
10. Scandium - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Scandium- By Geography (Market Size -$Million / $Billion)
        11.1 Scandium Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Scandium- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Scandium- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Scandium - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Scandium - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Scandium Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Scandium Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Scandium Market - Key Company List by Country Premium
15. Scandium Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Alfa Aesar
        15.3 All-Chemie
        15.4 Atlantic Equipment Engineer
        15.5 Beijing Cerametek Material
        15.6 Cathay Advanced Material Limited
        15.7 Clean Teq
        15.8 Dni Metal Inc
        15.9 Galileo Resource Plc
        15.10 Gfs Chemical
        15.11 Goodfellow
        15.12 Great Western Mineral Group
        15.13 Haihang Industry
        15.14 Huizhou Top Metal Material Co. Ltd
        15.15 Hunan Oriental Scandium Co. Ltd
        15.16 Materion Corporation
        15.17 Metallica Mineral
        15.18 Mine Ltd
        15.19 Molycorp
        15.20 Orbite Technology Inc
        15.21 Pele Mountain Resource
        15.22 Platina Resource Limited
        15.23 Rusal
        15.24 Scandium International Mining Corp
        15.25 Sigma-Aldrich
        15.26 Stanford Material Corporation
        15.27 Treibacher Industrie Ag
        15.28 Uranium One
        15.29 Company 28
        15.30 Company 29 & More
*Financials would be provided on a best efforts basis for private companies
16. Scandium Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Scandium Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends