Scandium is a soft, silvery-white metallic element with characteristics that are similar to the rare-earth metals (lanthanides). Its occurrence in crustal rocks is around 22 ppm, making scandium generally more abundant than lead, mercury, and precious metals and about the same as cobalt. Scandium exists in nature in its oxide form and tarnishes to pink or yellow. It is very difficult to reduce to its pure elemental state.
According to the publisher, the global scandium market is expected to witness growth at a significant rate during the forecast period. The major factors responsible for the global scandium market's growth would be increasing demand for an alternative energy source, successively, leading to a surge in production of solid oxide fuel cells, and increasing demand from aerospace, defense, and electronic industries. However, the high cost of scandium, inconsistent supply, and lack of knowledge would serve as restraining factors for this market's growth.
North American region is expected to be the largest market for global scandium due to the presence of many end-user industries here. However, the Asia-Pacific region is likely to witness a faster growth rate than in other regions. Focus on defense and aerospace spending in this region is likely to play an important role in driving APAC's market growth.
The global scandium market is consolidated. Major players in the market were found to be Scandium International Mining Corporation, Platina Resources Ltd, Clean Teq, Australian Mines Ltd, Hunan Rare Earth Metal Material Research Institute, Stanford Advanced Materials, among others.
Australian Mines Ltd, one of the promising key players in the scandium market, is to develop next-gen aluminum alloys in collaboration with Deakin University's Institute for Frontier Materials. The 9-month project that commenced on 12th October 2020 will use machine learning algorithms and Deakin's expertise in alloy development.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.2 Market Dynamics
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Feedstock Analysis
3.6 Regulatory Policies
3.7 Analysis of Covid-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5. Market Segmentation & Forecast
5.1 By Type
5.1.1 Pure Metal and Metal Powders
5.2 By Application
5.2.1 Aerospace and Defense
5.2.2 Solid Oxide Fuel Cells (SOFC)
5.2.3 Sporting Goods
5.2.4 Heat Exchangers
6. Regional Market Analysis
6.1 United States
6.6 Rest of the World
7. Key Company Profiles
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
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