Scandium is a chemical component which is silvery-white metallic and has been categorized in the past as a rare earth source. Scandium-oxide, the main ore and the prime source of scandium metal, and its other composites and alloys are produced in small quantities in limited regions across the world. The best part of the aforementioned oxide is mined and extracted from the rarest of earth and uranium compounds from the mining process and the following purification.
Scandium, owing to attractive electrical conductivity, heat stabilizer and creep resistant descriptions, and is lightweight, owing to which it is fast becoming an integral part of different profitable and industrial sectors. The market is driven by various factors, such as growing usage in SOFCs, increasing demand in the aerospace. Growing international trade has depicted to the world the place of manufacturing has largely been shifted from where products are utilized. However, this market faces certain hindrance, such as inconsistent supply and the increasing cost of scandium oxide.
Today, Ukraine, Kazakhstan, China, and Russia are dominating the market in the production and of scandium. Also, a number of small mining companies in Australia are working to develop scandium deposits in New South Wales, while many other companies are looking at the prospect of producing scandium as a by-product. With the shifting scope in the aerospace and aircraft manufacturing industry, the global demand for Scandium could rise to an enormous level in a relatively short time. As well as new scope in chemical refining industry seems to be a good opportunity for the scandium makers to capture.
- GFS Chemicals
- Great Western Mining Group
- Metallic Minerals
- Scandium International Mining Corp
- Texas Rare Earth Resources
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Scandium Market Forecast by Product (US$ billion)
6. Scandium Market Forecast by Industry Application(US$ billion)
7. Scandium Market Forecast by Geography (US$ billion)
8. Competitive Intelligence
9. Company Profiles
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