Scandium, a chemical element with atomic number 21, is a white silvery d-block element. Classified as rare historically, it is present in rare earth deposits & uranium compounds.
Because of its low availability and difficulties in synthesising, scandium finds most of its application when alloyed with Aluminium. The global trade of scandium oxide approximates to around 10 tonnes per year.
It finds large application in aerospace industry as well as in sports equipment manufacturing like bicycles, fishing rods, golf shafts, baseball bats and others. Scandium Iodide is used in mercury vapor lamps, which is used to replicate sunlight in studios for Film & television industry.Market Dynamics
The global market for scandium is expecting to witness a rapid growth over the forecasted period. The consumption market for scandium oxide is estimated to grow at a CAGR of approximately 11.47%.
Currently, globallyChina accounts for the major global market consumptionof about 35. This can be credited to the presence of abundant resources.
Since scandium forms alloy with aluminium readily, enhancing the structure of the combined metal, improving the strength and hence increasing industrial utility, is one of the major market drivers for global scandium demand.
The overall production of this rare earth mineral does not meet the potential demand for the product. Producers for Scandium producers are scarce, and only a reliable supply could help in matching the demand & supply well and serve the ever increasing exponential demand for the material.Market Segmentation
Market segmentation by product type includes metal, nitrate, chloride, fluoride, iodide, alloy, carbonate and others. Amongst these, scandium alloy has the largest market share - 65%.
By end-user industry, it includes 3D printing, electronics, lighting, aerospace &defence, solid oxide fuel cells, ceramics, and others.
Australia and China forms the largest market for Scandium globally both as producers as well as consumers, followed by some other major production areas like Russia, China and Kazakhstan among many others.
Major consumer markets include European Union, United States and Japan, which follow up the demand from Australia & China.Key Players
The major players in the global market for Scandium are Platina Resources Ltd., International Mining Corp. Hunan Oriental Scandium Co. Ltd., Clean TeQ, Metallica Minerals, NioCorp Development Ltd, Beijing Cerametek Materials, and many othersReport Contents
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus