Overview:

Scandium metal is light transition element with the atomics number 21. This metal is soft and silver in color and light in the weight when compared with the other transition elements. The molecular formula of the scandium metal is Sc2O3. This metal possess excellent properties including high strength, its ecofriendly nature, and recyclability. It exists in oxide form in the nature owing this it is known as scandium oxide.

Market Dynamics:

Growing adoption of scandium metal in various end use sectors, owing to its excellent properties is major factor driving growth of the global scandium metal market. Additionally, increasing usage of the scandium- aluminum alloy in the aerospace applications is another factor expected to fuel growth of the global market in the near future. Further, rising incorporation of scandium metal in to Solid Oxide Fuel Cells (SOFCs) is a key trend witnessed in the scandium metal industry, which is anticipated to continue and will propel growth of the global market in the next 10 years.

Key Trends:

Key players operating in the global scandium metal market are engaging in the strategic partnerships, product launches and the facility expansions in order to strengthen their position in the global market. Forinstance, in February 2020, The AMETEK, Inc. announced that it has acquired IntelliPower, a leading provider of high-reliability, ruggedized uninterruptible power systems serving a wide range of defense and industrial applications.

Regional Analysis:

For detailed understanding of market dynamics, the global marketis analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region is projected to estimate largest share in terms of revenue over the forecast year. The growth is attributed to increasing adoption of scandium in various end use applications in the countries of this region especially in the China. The market in North America is the expected to register significant CAGR during the forecast period. Increasing adoption scandium – aluminum alloy in the aerospace applications in the U.S., is major factor expected to upsurge growth of the market in the region.

Scope of the Report:

Detailed Segmentation:

Global Scandium Metal Market, By Product Type

• Ѕсаndіum охіdе 99.99%
• Ѕсаndіum охіdе 99.999%
• Ѕсаndіum охіdе 99.9995%
• Ѕсаndіum metal іngоt

Global Scandium Metal Market, By Application

• Аlumіnum-Ѕсаndіum Аllоуѕ
• Ніgh-Іntеnѕіtу Меtаl Наlіdе Lаmрѕ
• Lаѕеrѕ
• Ѕоlіd Охіdе Fuеl Сеllѕ (ЅОFСѕ)

Key Players Covered:           

Key players operating in the market includesЅсаndіum Іntеrnаtіоnаl Міnіng Соrр., Gаnzhоu kеmіngruі Nоn-fеrrоuѕ Маtеrіаlѕ Со., Ltd., Нuіzhоu Тор Меtаl Маtеrіаlѕ Со., Ltd (ТОРМ), Нunаn Оrіеntаl Ѕсаndіum Со., Ltd., DNІ Меtаlѕ Іnс., Unіtеd Соmраnу RUЅАL, Рlаtіnа Rеѕоurсеѕ Lіmіtеd, Вlооm Еnеrgу Соrроrаtіоn, Ѕtаnfоrd Маtеrіаlѕ Соrроrаtіоn, and Меtаllіса Міnеrаlѕ Lіmіtеd.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Scandium Metal Market by product type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.