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.
1.1 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 / $Billion)
8.1 Market Size and Market Share Analysis
8.2 Application Revenue and Trend Research
8.3 Product Segment Analysis
10.1 Segment type Size and Market Share Analysis
10.2 Application Revenue and Trends by type of Application
10.3 Application Segment Analysis by Type
11. Scandium- By Geography (Market Size -$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
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