Scandium Oxide Market By Grade (Scandium Oxide 95% - 99.9%, Scandium Oxide 99.90%, Scandium Oxide 99.90% and higher), By Application (Aluminum-Scandium Alloys, High-Intensity Metal Halide Lamps, Lasers, Ceramics, Solid Oxide Fuel Cells, 3D Printing, Others) and By Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2016 to 2026

Date : Apr 2021

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Report ID : 68

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Category : Metals and Mining

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Report Format:  PDF EXCEL PPT WORD

Scandium Oxide Market Report Overview:

“A meteoric market rise is predicted for Scandium and Scandium Oxide Market”

The Scandium Oxide market is projected to grow at a CAGR of 12.0% to reach USD 175.0 million by 2026 from 79.2 million in 2019. For Scandium and Scandium Oxide market the potential demand is much greater than present supply sources can match. The major factors driving the growth of the market studied are the accelerating usage of solid oxide fuel cells (SOFCs) and the rising demand for aluminum-scandium alloys.

Scandium oxide is one of the most common scandium compounds. Scandium oxide gets wide applications in many industries due to its special physicochemical properties. Scandium oxide is primarily being used in solid oxide fuel cells (SOFCs) and in scandium-aluminum alloys. SOFCs are a major application of scandium. These fuel cells can produce energy very cheaply and efficiently through continuous heat-producing internal reactions. The residual heat emitted from the SOFCs can be used to improve power generated from cheap natural gas and overall electricity from these cells costs only cents for each kilowatt-hour.

Scandium-aluminum alloys show significant promise in many areas. This type of alloy is light and strong and may be used in airplanes and in other applications with high-performance demands. Scandium-aluminum alloys can also be used in a type of 3D printing that creates CAD models entirely of metal. Some of the key players operating in the scandium oxide market include Scandium International Mining Corp., Henan Tianfu Chemical Co., Accela ChemBio Inc., Haihang Industry, among others.

Scandium Oxide Market

Scandium along with yttrium and lanthanide belongs to the rare earth family. It also exhibits a property of mineralization with titanium, vanadium, and iron which is not common with other rare earth elements. In the earth's crust, the specific minerals deposits of scandium are very rare. Scandium is mined from existing small reserves and minerals which include thortveitite, scandium phosphate, bazzite, and befanamite. Scandium resources have been identified in regions and countries such as Australia, Canada, China, Kazakhstan, Madagascar, Norway, the Philippines, Russia, Ukraine, and the United States.

The research report analyses the ecosystem and value chain of the Scandium Oxide market. The report categorizes the Scandium Oxide Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.

Scandium Oxide Market Segmentation:

  • Market Size by Grade

    • Scandium Oxide 95% - 99.9%
    • Scandium Oxide 99.90%,
    • Scandium Oxide 99.90% and higher
  • Market Size by Application

    • Aluminum-Scandium Alloys
    • High-Intensity Metal Halide Lamps
    • Lasers
    • Ceramics
    • Solid Oxide Fuel Cells
    • 3D Printing
    • Others
  • Geography

    • North America
      • US
      • Canada
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • APAC
      • China
      • India
      • Japan
      • South Korea
      • Singapore
      • Philippines
      • Rest of APAC
    • RoW
      • Middle East
      • Africa
      • LATAM

The unique insights provided by the Scandium Oxide market report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Technology landscape
  5. Regulatory scenario
  6. Patent trends
  7. Market trends
  8. Covid-19 impact analysis
  9. Raw material supply analysis
  10. Pricing trends
  11. Sustainability trends and environmental concerns
  12. Critical Success Factors
  13. Competitive Landscape
  14. Customer preferences
Trend Analysis of Scandium Oxide market Impact
Rising distributed power generation applications across regions which further increases the demand for solid oxide fuel cell (Sofc) that in turn increases the demand of scandium oxide over the coming years Positive
Fuel flexibility and increasing demand for energy-efficient power generation further propel the demand for scandium oxide across the globe in the forecast period Positive
Scandium Aluminium 3D printing being adopted for making radiators of Standard IC engines  Positive
Emerging usage of scandium in making next-generation airplane fuselages Positive
The growing market of Heat Exchangers made from Scandium Aluminium  Positive
 Scandium is a hard rock resource and there are risks and sustainability issues involved in mining it as compared with competing products  Negative
Titanium and aluminum high-strength alloys, AHSS as well as carbon-fiber composite materials, may substitute scandium-alloys in certain high-performance applications Negative

In terms of market by application, the solid oxide fuel cell market segment is estimated to be the largest segment of the Scandium Oxide market during the forecast period

Based on the application, the scandium oxide market has been segmented as aluminum-scandium alloys, high-intensity metal halide lamps, lasers, ceramics, SOFCs, among others. The SOFCs segment is dominating the market in the year 2019 and is expected to witness similar growth trends during the forecast period. The use of scandium in solid electrolytes helps the system operate at much lower temperatures than conventional SOFCs. It finds application in SOFC on account of the power density of scandium zirconium-based solid electrolyte which leads to the decrease of solid oxide fuel cell (SOFC) reaction temperature. Thus, the application of scandium has helped in lowering the costs of SOFCs, facilitating its widespread adoption for distributed power generation.

Scandium lasers find applications in defense and healthcare fields. Scandium isotopes are also used as a common tracer in the oil refining industry. Applications of scandium can be classified into three types: mature applications, emerging applications, and future demand applications.

The aluminum alloys market segment of the scandium oxide market is expected to register the highest CAGR in the forecast period.  The greatest emerging potential Scandium’s is in light-weighting such as with aluminum alloys. The space and aviation industry is a vital market for such products. Given the massive fuel savings, the scandium aluminum light-weighting offers the market of scandium oxide offers enormous market potential. With the current transition of the automotive market to vehicle electrification, the light-weighting concept is vital for mass-market vehicles. A lighter electric car can offer higher power and range for the same size battery. Airbus has already been involved in designing aircraft components and systems using new lightweight scandium-magnesium-aluminum alloys.

Application Mapping of Scandium and Scandium Oxide

In terms of application, the Asia Pacific region of the Scandium Oxide market segment is expected to be the fastest-growing region.

Asia Pacific region accounted was the fastest-growing region of the Scandium Oxide market followed by the other. The demand in the Asia Pacific region is primarily driven on account of demand from end-user industries such as growing defense markets. The Asia Pacific region is growing on account of growing power demand, growth in the electronics industry, and rapid industrialization. The production of Scandium in key countries such as India, South Korea, and the Philippines has also contributed to a growing market.

The report also provides an in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges:

Drivers:

  • The growing usage of scandium oxide in a solid oxide fuel cell for high energy saving
  • Discovery of new scandium sources and deposits
  • Increasing demand for lightweight materials
  • Increasing demand for aluminum-scandium alloys in the aerospace and defense industry

Restraints:

  • High prices
  • Opportunities
  • Demand from emerging economies
  • New emerging applications like 3D printing

Challenges:

  • Competition to Scandium – Aluminium from other metal alloys such as AHSS
  • Sustainability issues while mining scandium

The report also provides an in-depth analysis of recent developments of Scandium Oxide market:

Sr. No Year Type News
1 Mar-21 Joint Venture / Agreement Global mining and metals group Rio Tinto entered into an agreement with metal additive manufacturing company Amaero to supply high-performance aluminum-scandium alloy which can be further processed into powder for 3D printing and used for high-temperature applications
2 Jan-21 Expansion Rio Tinto initiated the construction of a commercial-scale scandium oxide demonstration plant in Canada's Quebec province. The plant has the potential to expand the current market of Scandium
3 Sep-20 Technology / Patent Scandium International Mining Corp. has filed a provisional patent application with the U.S. Patent Office for the usage of scandium in applications such as  lithium-ion batteries

Company Profiles and Competitive Intelligence:

The key players operating in the scandium and scandium oxide market are:

  1. Scandium International Mining Corp.
    1. Company Fundamentals
    2. Financial Analysis (Subject to Availability)
    3. Product Portfolio
    4. Recent Developments
    5. SWOT Analysis
  2. Henan Tianfu Chemical Co.
  3. Accela ChemBio Inc.
  4. Australian Mines Ltd.
  5. Haihang Industry
  6. antaichem.com
  7. NioCorp Development Ltd.
  8. HuiZhou Top Metal Material Co.,Ltd
  9. Hunan Oriental Scandium Co.,Ltd.
  10. Hunan Rare Earth Co., Ltd.
  11. Nanografi Nano Technology
  12. American Elements
  13. ESPI Metals
  14. Rio Tinto
  15. Clean TeQ
  16. Nanoshel
  17. Imperial Mining Group Ltd.
  18. Hunan Kunwell Advanced Materials co
  19. Stanford Advanced Materials
  20. RUSAL
  21. Weston Aluminum
  22. Ottokemi
  23. Mincometsal
  24. Alfa Aesar
  25. Platina Resources Limited
  26. Canada Rare Earth Corporation
  27. Hastings Technology Metals Limited
  28. Beixin Minerals
  29. Other Notable Players

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. Market Introduction
    1. Definition
    2. Scope Of The Study
    3. List Of Assumptions
    4. Market Structure
    5. Scope of the Study: Segmentation 
    6. Timeframe, Currency, and Limitations
  2. Executive Summary
    1. Market Summary
    2. Market Snapshot
    3. Regional Snapshot
    4. Country Snapshot
  3. Research Methodology
    1. 3P Research Approach
    2. Market Sizing Approach
    3. Data Sources
    4. Primary Research Coverage
  4. Market Overview
    1. Market Drivers
    2. Opportunities
    3. Value Chain Analysis
    4. Recycling Rates
    5. Pricing Analysis
    6. Overview of Rare Earth Market
    7. Major Scandium Mines
  5. Premium Insights
    1. Section 4: Premium Insights
    2. Key Trend Analysis
    3. Major Investment Scenario
    4. New revenue Pockets
    5. Pain Point Analysis
    6. Regional Price Trend Analysis
    7. Strategies Adopted-Benchmarking Heat Map
    8. Regulatory Implications
    9. Business Recommendations
    10. Opportunity Mapping
    11. Market Share Analysis
    12. PESTEL Analysis
    13. Regional Lifecycle
    14. Developed vs. Developing Economies, 2019 vs 2026
  6.  COVID – 19 Opportunity Mapping
    1. Revenue Impact & Opportunity
    2. Strategic Adjustments
    3. Supply Chain Impact
    4. Impact Outlook
    5. Key Drivers & Anticipated Revival Period
    6. Key Trends Analysis
    7. Impact on End user Industry
    8. Opportunity Analysis

 

  1. Market Overview & Competitive Landscape
    1. Competitive Landscape
    2. Investment Scenario by key Players
    3. Key Player Overview
    4. Product comparison
    5. Player Wise Geographic Presence
    6. Player Wise Target Customer Segment
    7. Recent News
      1. Product Launches & upgrades
      2. R&D / Innovation
      3. Merger & Acquisition
      4. JV & Partnership
      5. Recognition and others
  2. Market Segmentation (Market Size and Share Analysis)
    1. Global Market Size & Historic Growth
    2. Market Size by Grade
      1. Scandium Oxide 95% - 99.9%
      2. Scandium Oxide 99.90%
      3. Scandium Oxide A 99.9%
    3. Market Size by Application
      1. Aluminum-Scandium Alloys
      2. High-Intensity Metal Halide Lamps
      3. Lasers
      4. Ceramics
      5. Solid Oxide Fuel Cells
      6. 3D Printing
      7. Others
    4. Geography
      1. North America
        1. US
        2. Canada
      2. Europe
        1. UK
        2. Germany
        3. France
        4. Italy
        5. Spain
        6. Russia
        7. Rest of Europe
      3. APAC
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Singapore
        6. Rest of APAC
      4. RoW
        1. Middle East
        2. Africa
        3. LATAM
  3. Company Profiles
    1. Scandium International Mining Corp.
      1. Company Fundamentals
      2. Financial Analysis (Subject to Availability)
      3. Product Portfolio
      4. Recent Developments
      5. SWOT Analysis
    2. Henan Tianfu Chemical Co.
    3. Accela ChemBio Inc.
    4. Australian Mines Ltd.
    5. Haihang Industry
    6. antaichem.com
    7. NioCorp Development Ltd.
    8. HuiZhou Top Metal Material Co.,Ltd
    9. Hunan Oriental Scandium Co.,Ltd.
    10. Hunan Rare Earth Co., Ltd.
    11. Nanografi Nano Technology
    12. American Elements
    13. ESPI Metals
    14. Rio Tinto
    15. Clean TeQ
    16. Nanoshel
    17. Imperial Mining Group Ltd.
    18. Hunan Kunwell Advanced Materials co
    19. Stanford Advanced Materials
    20. RUSAL
    21. Weston Aluminum
    22. Ottokemi
    23. Mincometsal
    24. Alfa Aesar
    25. Platina Resources Limited
    26. Canada Rare Earth Corporation
    27. Hastings Technology Metals Limited
    28. Beixin Minerals
    29. Other Notable Players
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