Market Overview:
The global scandium market reached a value of around US$ 509 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 802 Million by 2027, exhibiting at a CAGR of 7.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Scandium is a silvery-white metallic element found in association with rare earth elements. It can also be obtained from thortveitite or extracted as a by-product from uranium mill tailings. It has a high melting point and low density like aluminum and its small ion size enables it to react chemically with elements like magnesium, zirconium, and aluminum. Due to these properties, it is widely used to make bright mercury-vapor lamps that produce sunlight-like light. Apart from this, as it assists in reducing solidification cracking during the welding of high strength aluminum alloys, scandium is employed in the aerospace industry worldwide.
Scandium Market Trends:
There is a considerable rise in the demand for solid oxide fuel cells (SOFCs) for producing electricity. This represents one of the key factors strengthening the growth of the market. Scandium assists the power generation system in operating at much lower temperatures and reducing the cost of SOFCs, thereby facilitating its widespread adoption for distributed power generation worldwide. Besides this, due to a significant increase in electricity prices, there is a growing need for a sustainable power generation method. This, in turn, is positively influencing the sales of scandium around the world. Moreover, it is used as a substitute for yttria (Y2O3) as a stabilizing agent for the solid electrolyte in the fuel cell. This enables reactions to occur at lower temperatures, therefore extending the life of the components and increasing the power density of the unit. This, along with the growing adoption of aluminum-scandium alloys, is positively influencing the market. Furthermore, the rising utilization of SOFC-based fuel cells as replacements for internal combustion engines in light-duty vehicles and warehouse forklifts to increase vehicle efficiency and support the goals of reducing oil usage and emissions from the transportation sector acts as another growth-inducing factor.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global scandium market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, application and end use industry.
Breakup by Product Type:
- Oxide
- Fluoride
- Chloride
- Nitrate
- Iodide
- Alloy
- Others
Breakup by Application:
- Aluminum-scandium Alloys
- High-intensity Metal Halide Lamps
- Lasers
- Solid Oxide Fuel Cells
Breakup by End Use Industry:
- Aerospace and Defense
- Ceramics
- Lighting
- Electronics
- 3D Printing
- Sporting Goods
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Australian Mines Limited, Galileo Resources PLC, GFS Chemicals Inc., Hunan Oriental Scandium Co. Ltd., Lenntech B.V., Materion Corporation, Merck KGaA, Niocorp Developments Ltd., Platina Resources Limited, Scandium International Mining Corporation, Sumitomo Metal Mining Co. Ltd and Thermo Fisher Scientific Inc.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Million |
| Segment Coverage |
Product Type, Application, End Use Industry, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
Australian Mines Limited, Galileo Resources PLC, GFS Chemicals Inc., Hunan Oriental Scandium Co. Ltd., Lenntech B.V., Materion Corporation, Merck KGaA, Niocorp Developments Ltd., Platina Resources Limited, Scandium International Mining Corporation, Sumitomo Metal Mining Co. Ltd and Thermo Fisher Scientific Inc. |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global scandium market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global scandium market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global scandium market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Scandium Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Oxide
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Fluoride
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Chloride
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Nitrate
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Iodide
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Alloy
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Others
6.7.1 Market Trends
6.7.2 Market Forecast
7 Market Breakup by Application
7.1 Aluminum-scandium Alloys
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 High-intensity Metal Halide Lamps
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Lasers
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Solid Oxide Fuel Cells
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by End Use Industry
8.1 Aerospace and Defense
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Ceramics
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Lighting
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Electronics
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 3D Printing
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Sporting Goods
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Others
8.7.1 Market Trends
8.7.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Australian Mines Limited
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Galileo Resources PLC
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.3 GFS Chemicals Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Hunan Oriental Scandium Co. Ltd.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Lenntech B.V.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Materion Corporation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Merck KGaA
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Niocorp Developments Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 Platina Resources Limited
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10 Scandium International Mining Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.11 Sumitomo Metal Mining Co. Ltd
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Thermo Fisher Scientific Inc.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
List of Figures
Figure 1: Global: Scandium Market: Major Drivers and Challenges
Figure 2: Global: Scandium Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Scandium Market: Breakup by Product Type (in %), 2021
Figure 5: Global: Scandium Market: Breakup by Application (in %), 2021
Figure 6: Global: Scandium Market: Breakup by End Use Industry (in %), 2021
Figure 7: Global: Scandium Market: Breakup by Region (in %), 2021
Figure 8: Global: Scandium (Oxide) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Scandium (Oxide) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Scandium (Fluoride) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Scandium (Fluoride) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Scandium (Chloride) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Scandium (Chloride) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Scandium (Nitrate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Scandium (Nitrate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Scandium (Iodide) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Scandium (Iodide) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Scandium (Alloy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Scandium (Alloy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Scandium (Other Product Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Scandium (Other Product Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Scandium (Aluminum-scandium Alloys) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Scandium (Aluminum-scandium Alloys) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Scandium (High-intensity Metal Halide Lamps) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Scandium (High-intensity Metal Halide Lamps) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Scandium (Lasers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Scandium (Lasers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Scandium (Solid Oxide Fuel Cells) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Scandium (Solid Oxide Fuel Cells) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Scandium (Aerospace and Defense) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Scandium (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Scandium (Ceramics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Scandium (Ceramics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Scandium (Lighting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Scandium (Lighting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Scandium (Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Scandium (Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Scandium (3D Printing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Scandium (3D Printing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Scandium (Sporting Goods) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Scandium (Sporting Goods) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Scandium (Other End Use Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Scandium (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: North America: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: North America: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: United States: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: United States: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Canada: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Canada: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Asia-Pacific: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Asia-Pacific: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: China: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: China: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Japan: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Japan: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: India: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: India: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: South Korea: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: South Korea: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Australia: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Australia: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Indonesia: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Indonesia: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Others: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Others: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Europe: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Europe: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Germany: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Germany: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: France: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: France: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: United Kingdom: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: United Kingdom: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Italy: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Italy: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Spain: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Spain: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Russia: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Russia: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Others: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Others: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Latin America: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Latin America: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Brazil: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Brazil: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Mexico: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Mexico: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Others: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Others: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Middle East and Africa: Scandium Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Middle East and Africa: Scandium Market: Breakup by Country (in %), 2021
Figure 92: Middle East and Africa: Scandium Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 93: Global: Scandium Industry: SWOT Analysis
Figure 94: Global: Scandium Industry: Value Chain Analysis
Figure 95: Global: Scandium Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Scandium Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Scandium Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 3: Global: Scandium Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Scandium Market Forecast: Breakup by End Use Industry (in Million US$), 2022-2027
Table 5: Global: Scandium Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Scandium Market: Competitive Structure
Table 7: Global: Scandium Market: Key Players