Global Scandium Market Analysis, Trends & Forecasts 2018-2023, With an Estimated CAGR of 11.55% - ResearchAndMarkets.com

DUBLIN--()--The "Global Scandium Market - Segmented by Product Type, End-User Industry and Geography - Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

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.

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.

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%.

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.

Companies Mentioned

  • 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
  • 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
  • Rusal

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Market insights

4. Market Dynamics

5. Market Segmentation and Analysis

6. Regional Market Analysis

7. Competitive Landscape

8. Company Profiles

9. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/research/7drczg/global_scandium?w=4

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Related Topics: Metals and Minerals

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Metals and Minerals