Global Scandium Market 2024-2028
The scandium market is forecasted to grow by USD 268.2 mn during 2023-2028, accelerating at a CAGR of 8.51% during the forecast period. The report on the scandium market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing electronic content in hybrid and electric vehicles, increasing usage in SOFCs, and rising demand for aluminum-scandium alloys in aerospace and defense.
Technavio's scandium market is segmented as below:
By End-user
- Solid oxide fuel cells
- Aerospace and defense
- Electronics
- Sporting goods
- Others
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the imperial development of scandium-modified EV alloy as one of the prime reasons driving the scandium market growth during the next few years. Also, development of fuses exclusively for EVs and HEVs and growing preference for newer generation aircraft components will lead to sizable demand in the market.
The report on the scandium market covers the following areas:
- Scandium market sizing
- Scandium market forecast
- Scandium market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading scandium market vendors that include Atlantic Equipment Engineers Inc., Australian Mines Ltd., GFS Chemicals Inc., Huizhou Top Metal Material Co. Ltd., Lenntech BV, LB Group Co. Ltd., Materion Corp., Merck KGaA, Platina Resources Ltd., Stanford Materials Corp., Thermo Fisher Scientific Inc., Treibacher Industrie AG, and United Company RUSAL. Also, the scandium market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.