Scandium Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Product Type (Oxide, Fluoride, Chloride, Nitrate, Iodide, Alloy, Carbonate, and Other Product Types), End-user Industry (Aerospace and Defense, Solid Oxide Fuel Cells, Electronics, Ceramics, Lighting, Phosphorous CRT, 3D Printing, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

11 %

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Market Overview

The scandium market is expected to register a CAGR of over 11%, during the forecast period. The major factors driving the growth of the market studied are the accelerating usage in solid oxide fuel cells (SOFCs), and rising demand for aluminum-scandium alloys. However, lack of awareness, high cost, and inconsistent supply are restraining the growth of the market studied.

  • The aerospace and defense segment dominated the market. It is likely to grow during the forecast period, with increasing production of aircrafts across the world.
  • The shifting focus toward the usage in the automotive industry, and Australia’s emergence as a new growth hub are likely to provide opportunities for the market studied, during the forecast period.
  • Asia-Pacific dominated the global market, owing to the growing usage in automotive industry, and high demand from aerospace, defense, and electronic industries.

Scope of the Report

The scope of the scandium market report includes:

Product Type
Oxide
Fluoride
Chloride
Nitrate
Iodide
Alloy
Carbonate and Other Product Types
By End-user Industry
Aerospace and Defense
Solid Oxide Fuel Cells
Electronics
Ceramics
Lighting
Phosphorous CRT (Displays)
3D Printing
Other End-user Industries (Chemical Refining, Sports Goods, and Automotive)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Aerospace and Defense Segment to Dominate the Market

  • One of the most important uses of scandium is in the preparation of aluminum-scandium alloy, which is used in the aerospace industry during the manufacturing of aircraft.
  • Addition of scandium with aluminum helps to improve strength, increase heat tolerance, promote corrosion resistance, extend weldability and weld strength to an array of aluminum alloy materials.
  • According to the aircraft designers, about 0.1-0.5% trace amount of scandium added to aluminum can helps to increase not only the strength of aluminum, but also helps to reduce the weight of aircraft by 15-20%.
  • With growing security concerns and increasing commercial use of aircraft as a medium of conveyance, the demand for aircraft has been increasing worldwide. Owing to this, various aircraft production orders are lined up for expected delivery in the coming years in order to deliver the orders from the aviation and defense industries.
  • Moreover, with increasing construction of airports in countries, such as China, India, Qatar, and others, the demand for aircraft is further expected to increase, thus driving the demand for aluminum and scandium in the coming years.

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share, owing to the increasing investments and production in the end-user industries, such as aerospace and defense, ceramics, etc., are driving the demand for scandium in the region.
  • The region consists of four of the top 10 countries, in terms of defense spending. The spending has been increasing in the recent years, with the rise in terrorism and rising security concerns in the region. The United States leads in terms of defense spending, followed closely by China.
  • China is the largest producer of aircraft in the region, and invests heavily on R&D and innovation in the field of aerospace and defense.
  • Furthermore, countries, like India and South Korea, are also witnessing substantial increase in the demand for scandium.
  • Increasing defense spending, and surging ceramic demand and production are driving the demand for scandium in India and South Korea.
  • Thus, all such factors are expected to drive the demand for scandium in the region, during the forecast period.

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Competitive Landscape

The scandium market is fragmented in nature, with numerous players holding insignificant share of the market demand, to individually affect the market dynamics. Some of the noticeable players in the market include Scandium International Mining Corp, Platina Resources Ltd, CleanTeq, Australian Mines Ltd, and Alfa Aesar, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Usage in Solid Oxide Fuel Cells (Sofcs)

      2. 4.1.2 Increasing Usage in Other Applications

    2. 4.2 Restraints

      1. 4.2.1 Lack of Awareness and High Cost Association

      2. 4.2.2 Inconsistent Supply

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Oxide

      2. 5.1.2 Fluoride

      3. 5.1.3 Chloride

      4. 5.1.4 Nitrate

      5. 5.1.5 Iodide

      6. 5.1.6 Alloy

      7. 5.1.7 Carbonate and Other Product Types

    2. 5.2 By End-user Industry

      1. 5.2.1 Aerospace and Defense

      2. 5.2.2 Solid Oxide Fuel Cells

      3. 5.2.3 Electronics

      4. 5.2.4 Ceramics

      5. 5.2.5 Lighting

      6. 5.2.6 Phosphorous CRT (Displays)

      7. 5.2.7 3D Printing

      8. 5.2.8 Other End-user Industries (Chemical Refining, Sports Goods, and Automotive)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alfa Aesar

      2. 6.4.2 Atlantic Equipment Engineers (Micron Metal Inc.)

      3. 6.4.3 Cathay Advanced Materials Limited

      4. 6.4.4 Clean TeQ Holdings Ltd

      5. 6.4.5 DNI Metals Inc.

      6. 6.4.6 Galileo Resources PLC

      7. 6.4.7 GFS Chemicals

      8. 6.4.8 Hunan Oriental Scandium Co. Ltd

      9. 6.4.9 Materion Corporation (Cerac Inc.)

      10. 6.4.10 Orbite Technologies Inc.

      11. 6.4.11 Platina Resources Limited

      12. 6.4.12 Scandium International Mining Corp.

      13. 6.4.13 Stanford Materials Corporation

      14. 6.4.14 Sigma-Aldrich (Merck KGaA)

      15. 6.4.15 Treibacher Industrie AG

      16. 6.4.16 Australian Mines Ltd

      17. 6.4.17 Huizhou Top Metal Materials Co. Ltd (TOPM)

      18. 6.4.18 Rusal

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Shifting Focus toward Usage in Automotive industry

    2. 7.2 Aerospace and Defense Applications

    3. 7.3 Australia - The New Growth Hub

** Subject to Availability

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