Global Scandium Market - Segmented by Product Type, End-User Industry and Geography - Trends and Forecasts (2018 - 2023)

  • ID: 4520190
  • Report
  • Region: Global
  • 139 pages
  • Mordor Intelligence
until Dec 31st 2018
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  • Alfa Aesar
  • Clean Teq
  • Gfs Chemicals
  • Metallica Minerals
  • Pele Mountain Resources
  • Sigma-Aldrich
  • MORE
The scandium market is expected to reach a volume of 24,791.65 kilograms by 2023 with an estimated CAGR of 11.55% during the forecast period (2018 - 2023), due to excessive demand in various segments, such as electronics, LED & lasers, and batteries. The increasing demand in the aerospace and automotive industries will contribute to the growth of the scandium market. New avenues in chemical refining technology are a good opportunity for scandium manufacturers to tap into. In addition, innovative product application of scandium provides an excellent prospect to further drive the market.

Accelerating Usage in Solid Oxide Fuel Cells (SOFCs)

The principal use of scandium in future will be in the form of Solid Oxide Fuel Cells (SOFCs), aluminum-scandium alloys due to its electrical conductivity and heat stabilization qualities. Aluminum-scandium alloys are majorly used in aerospace and other high-performance applications. Operating at low temperatures reduces the component costs and extends fuel cell life, thus making SOFCs competitive and cheaper in comparison to other sources of electricity. However, the limited availability of scandium restricts its usage. It is estimated that, SOFCs market alone will consume about five times scandium compared to current consumption, provided it is available in abundance.

Aerospace - The Fastest Growing Segment by Usage

The global scandium market in the aerospace and defense industry is expected to reach a volume of 15,305.77 kilogram by 2023, at an estimated CAGR of 11.87%, during the forecast period 2018-2023. One of the most important uses of scandium is the preparation of aluminum-scandium alloy, which is used in the aerospace industry during the manufacturing of aircraft. Aircraft designers believe that when scandium is added in trace amount (about 0.1% to 0.5%) to aluminum, the strength of aluminum increases, thus reducing weight by 15% - 20%. Estimates show that a single-aisle aircraft could use up to 70 kilograms of scandia. However, the concern is the availability of metal.

Asia-Pacific to Lead the Market

China accounted for the highest consumption share due to high reserves of scandium, along with government policies restricting large scale export of the product. Majority of this consumption was accounted for by a limited number of downstream applications, including nuclear energy, aerospace and defense, and electronics, among others.

The Global Scandium market is a consolidated market with the presence of limited number of players, across the globe. Globally, there are more than 50 players in the scandium market, with the top 6 players accounting for close to half of the scandium production globally. Scandium International Mining Corp. is leading the market with a share of 11%. Hunan Oriental Scandium Co. Ltd is the largest producer of scandium in China, while NioCorp Development Ltd is the only manufacturer of scandium in the North American market.

Notable Developments in Market

March 2018: Auxico Resources Canada Inc., announced the discovered the presence of scandium and gold on the Metalor property in Colombia.

Major Players: Scandium International Mining Corp, Platina Resources Ltd, CleanTeq, Australian Mines Ltd, and Metallica Minerals amongst others.

Reasons to Purchase this Report

To understand the impact of end-user applications on the market

Analyzing various perspectives of the market with the help of Porter’s five forces analysis

Countries expected to witness the fastest growth during the forecast period

Identify the latest developments, market shares, and strategies employed by the major market players

3 months analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

The report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
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  • Alfa Aesar
  • Clean Teq
  • Gfs Chemicals
  • Metallica Minerals
  • Pele Mountain Resources
  • Sigma-Aldrich
  • MORE
1. Introduction
1.1 Research Phases
1.2 Scope of the Market
1.3 Study Deliverables

2. Executive Summary

3. Market insights
3.1 Industry Attractiveness - Porter’s Five Force Analysis
3.1.1 Bargaining Power of Suppliers
3.1.2 Bargaining Power of Consumers
3.1.3 Threat of New Entrants
3.1.4 Threat of Substitute Products and Services
3.1.5 Degree of Competition
3.2 Industry Value Chain Analysis
3.3 Production Analysis
3.4 Price Analysis
3.5 Projects
3.6 Future of the Scandium Market

4. Market Dynamics
4.1 Drivers
4.1.1 Accelerating Usage in Solid Oxide Fuel Cells (Sofcs)
4.1.2 Increasing Use in Other Applications
4.2 Restraints
4.2.1 Lack of Awareness and High Cost Association
4.2.2 Inconsistent Supply
4.3 Opportunities
4.3.1 Shifting Focus Towards Usage in Automotive industry
4.3.2 Aerospace and Defense applications
4.3.3 Australia: New Growth Hub

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Product Type
5.1.1 Oxide
5.1.2 Fluoride
5.1.3 Chloride
5.1.4 Nitrate
5.1.5 Iodide
5.1.6 Alloy
5.1.7 Carbonate and Others
5.2 By End-User industry
5.2.1 Aerospace and Defense
5.2.2 Solid Oxide Fuel Cells
5.2.3 Electronics
5.2.4 Ceramics
5.2.5 Lighting
5.2.6 Phosphorous Crt (Displays)
5.2.7 3D Printing
5.2.8 Others (Chemical Refining, Sports Goods, Automotive)

6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 Japan
6.1.3 India
6.1.4 Australia
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 US
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 UK
6.3.3 France
6.3.4 Italy
6.3.5 Russia
6.3.6 Spain
6.3.7 Ukraine
6.3.8 Rest of Europe
6.4 Middle-East and Africa
6.4.1 Saudi Arabia
6.4.2 South Africa
6.4.3 Rest of MEA

7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis***
7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 Alfa Aesar
8.2 All-Chemie
8.3 Atlantic Equipment Engineers
8.4 Beijing Cerametek Materials
8.5 Cathay Advanced Materials Limited
8.6 Clean Teq
8.7 Dni Metals Inc.
8.8 Galileo Resources Plc.
8.9 Gfs Chemicals
8.10 Goodfellow
8.11 Great Western Minerals Group
8.12 Haihang industry
8.13 Hunan Oriental Scandium Co. Ltd
8.14 Materion Corporation (Cerac, Inc.)
8.15 Metallica Minerals
8.16 Molycorp
8.17 Orbite Technologies Inc.
8.18 Platina Resources Limited
8.19 Pele Mountain Resources
8.20 Scandium international Mining Corp
8.21 Stanford Materials Corporation
8.22 Sigma-Aldrich
8.23 Treibacher industrie AG
8.24 Uranium One
8.25 Australian Mines Ltd
8.26 Huizhou Top Metal Materials Co. Ltd (TOPM)
8.27 Rusal
*List Not Exhaustive

9. Disclaimer
**Subject to availability on public domain
Note: Product cover images may vary from those shown
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  • Alfa Aesar
  • All-Chemie
  • Atlantic Equipment Engineers
  • Beijing Cerametek Materials
  • Cathay Advanced Materials Limited
  • Clean Teq
  • Dni Metals Inc
  • Galileo Resources Plc
  • Gfs Chemicals
  • Goodfellow
  • Great Western Minerals Group
  • Haihang Industry
  • Hunan Oriental Scandium Co. LTD
  • Materion Corporation (Cerac Inc.)
  • Metallica Minerals
  • Molycorp
  • Orbite Technologies Inc
  • Platina Resources Limited
  • Pele Mountain Resources
  • Scandium International Mining Corp
  • Stanford Materials Corporation
  • Sigma-Aldrich
  • Treibacher Industrie Ag
  • Uranium One
  • Australian Mines Ltd
  • Huizhou Top Metal Materials Co. LTD (TOPM)
  • Rusal
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown