Scandium Market
By Type;
Oxide, Fluoride, Chloride, Nitrate, Iodide, Alloy and Carbonate, and OthersBy Form;
Metal and AlloysBy Distribution Channel;
Direct Sales and Online RetailersBy Application;
Aerospace, Lighting, Electronics, and AutomotiveBy End-User;
Aerospace & Defense, Solid Oxide Fuel Cells, Ceramics, Lighting, Electronics, 3D Printing, Sporting Goods, and OthersBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)Scandium Market Overview
Scandium Market (USD Million)
Scandium Market was valued at USD 722.25 million in the year 2024. The size of this market is expected to increase to USD 1,190.46 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 7.4%.
Scandium Market
*Market size in USD million
CAGR 7.4 %
Study Period | 2025 - 2031 |
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Base Year | 2024 |
CAGR (%) | 7.4 % |
Market Size (2024) | USD 722.25 Million |
Market Size (2031) | USD 1,190.46 Million |
Market Concentration | Medium |
Report Pages | 335 |
Major Players
- Hunan Rare Earth Metal Materials Research Institute Co., Ltd.
- China Metallurgical Group Corporation (MCC Group)
- Sunrise Energy Metals Limited
- Longbai Group Co., Ltd.
- Henan Rongjia scandium vanadium Technology Co., Ltd
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Scandium Market
Fragmented - Highly competitive market without dominant players
The Scandium Market is gaining momentum as demand surges in aerospace, clean energy, and electronics. Nearly 45% of scandium consumption is linked to aluminum-scandium alloys that deliver higher strength and lighter weight. These properties make them essential for industries prioritizing efficiency, durability, and advanced performance standards.
Aerospace Adoption Driving Growth
Around 20% of scandium usage is associated with aerospace components, particularly in lightweight alloys that improve resistance and weldability. These characteristics make scandium indispensable for modern aircraft manufacturing. As aerospace manufacturers prioritize fuel efficiency and stronger materials, scandium demand within this sector continues to expand.
Supply Constraints as a Restraint
A key challenge for the scandium market is restricted availability, with less than 5% of global reserves being utilized for commercial extraction. Since scandium is often a by-product of other minerals, the supply chain remains limited. This scarcity contributes to higher costs and slows broader industrial adoption.
Opportunities in Emerging Applications
Despite limitations, scandium offers substantial opportunities, especially with over 40% growth potential in new technologies such as advanced batteries, additive manufacturing, and 3D printing. Rising investments in extraction, production, and recycling initiatives are set to unlock fresh possibilities. This positions scandium as a strategic material for the next wave of industrial and technological innovation.
Scandium Market Key Takeaways
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Scandium’s lightweight strength and corrosion resistance are driving its adoption across aerospace, automotive, and electronics industries, positioning it as a critical material for advanced technologies.
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Asia-Pacific leads demand, contributing nearly 45% of revenue, while North America and Europe follow, powered by technological advancements and industrial innovation.
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Rising demand in fuel cells is accelerating, with solid oxide fuel cells emerging as one of the fastest-growing applications driven by the shift toward clean energy solutions.
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Research and development efforts are focused on improving extraction techniques, lowering production costs, and ensuring a stable supply chain to support growing industrial applications.
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Aerospace adoption surges as aluminum-scandium alloys reduce aircraft component weight by nearly 15–20%, enhancing fuel efficiency and overall performance.
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Supply limitations and high costs remain key challenges, prompting investments in recycling technologies, alternative sourcing, and material innovation to meet rising demand.
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Additive manufacturing growth is boosting scandium usage in 3D printing, enabling advanced designs and expanding applications, particularly in aerospace engineering and high-performance sectors.
Scandium Market Recent Developments
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In June 2018, Clean TeQ partnered with Airbus to advance the development of lightweight scandium-aluminum alloys aimed at enhancing aviation performance. This collaboration focused on creating stronger, lighter, and more durable materials to improve fuel efficiency and support the next generation of aircraft manufacturing technologies.
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In March 2024, Rusal launched large-scale scandium oxide production to strengthen the supply of aerospace alloys. This strategic move aims to meet the growing demand for lightweight, high-performance materials used in advanced aviation technologies and enhance the company’s position as a key player in the aerospace manufacturing sector.
Segment Analysis
The global scandium market encompasses a diverse range of compounds, including oxide, fluoride, chloride, nitrate, iodide, alloy, carbonate, and others, each offering distinct properties and applications across various industries. These industries include aerospace, defense, solid oxide fuel cells, ceramics, lighting, electronics, 3D printing, sporting goods, and more. For instance, scandium oxide is crucial in high-intensity discharge lamps, while scandium fluoride finds applications in aerospace due to its lightweight and corrosion-resistant nature. Scandium alloys are increasingly used in aerospace and defense for their high strength-to-weight ratio, enhancing the performance of aircraft and military equipment.
The end-user segments of the global scandium market span a wide spectrum of industries, all leveraging scandium's unique properties for specific applications. Aerospace and defense industries utilize scandium alloys to create lightweight yet strong aircraft components and military gear. Solid oxide fuel cells incorporate scandium oxide as an electrolyte material to improve cell efficiency. Additionally, scandium oxide serves as a dopant in ceramics manufacturing, enhancing mechanical and thermal properties. Scandium also finds applications in lighting, electronics, 3D printing, sporting goods, and various other sectors, showcasing its versatility and significance across industries.
Geographically, the global scandium market covers regions like North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, each contributing to market growth with varying degrees of demand and adoption. North America and Europe lead in technological advancements and industrial applications of scandium, particularly in aerospace, defense, and electronics. Meanwhile, the Asia Pacific region is experiencing rapid market growth driven by industrialization, infrastructure development, and demand for advanced materials. The Middle East and Africa, as well as Latin America, present opportunities for market expansion with increasing investments in infrastructure, manufacturing, and renewable energy.
Global Scandium Segment Analysis
In this report, the Global Scandium Market has been segmented by Type, Application, End-User and Geography.
Global Scandium Market, Segmentation by Type
The Global Scandium Market has been segmented by Type into Oxide, Fluoride, Chloride, Nitrate, Iodide, Alloy and Carbonate and Others.
Scandium oxide, renowned for its characteristics, is widely employed in manufacturing high-intensity discharge lamps. In contrast, scandium fluoride is prized in the aerospace sector for its lightweight and resistance to corrosion. Additionally, scandium alloys are increasingly favored in aerospace and defense for their exceptional strength-to-weight ratio, enhancing the performance of various aircraft components and military equipment.
Beyond oxide and fluoride, scandium compounds like chloride, nitrate, and iodide play pivotal roles across industries, offering specialized properties tailored to specific applications. Scandium chloride, for instance, is utilized in catalyst and electronics manufacturing, while scandium nitrate and iodide find applications in chemical synthesis and research endeavors. Scandium alloys, recognized for their lightweight and durable nature, are gaining prominence in sectors like automotive and sporting goods, further diversifying scandium's applications.
Scandium compounds extend their utility into non-traditional sectors, showcasing their versatility. Scandium carbonate, for instance, serves as a dietary supplement in the pharmaceutical industry. Other scandium compounds categorized under "others" may find niche applications or contribute to emerging technologies. With ongoing advancements in materials science and technology, the demand for scandium compounds across industries is poised for continuous growth, fostering innovation and driving market expansion.
Global Scandium Market, Segmentation by Application
The Global Scandium Market has been segmented by Application into Aerospace , Lighting , Electronics , and Automotive
The global scandium market has been segmented by application into key industries, including aerospace, lighting, electronics, and automotive. Scandium, a rare earth metal with unique properties such as lightweight strength, high-temperature resistance, and excellent conductivity, plays a vital role across these sectors. In the aerospace industry, scandium is primarily used in aluminum-scandium alloys, which enhance the strength and corrosion resistance of aircraft components while reducing overall weight. This weight reduction improves fuel efficiency and performance, making scandium an essential material for modern aerospace applications, including commercial aircraft, military jets, and space exploration vehicles. The increasing demand for lightweight and high-strength materials in the aviation industry has driven the adoption of scandium-based alloys, further boosting the growth of the scandium market.
In the lighting sector, scandium is utilized in metal halide lamps, which are known for their bright white light and high energy efficiency. Scandium iodide is a critical component in these lamps, enabling them to produce light that closely resembles natural sunlight. These lamps are widely used in stadiums, theaters, and industrial lighting applications, where high-intensity illumination is required. The growing adoption of energy-efficient lighting solutions, coupled with advancements in lighting technology, has contributed to the increased demand for scandium in this segment.
The electronics industry also represents a significant application area for scandium, primarily due to its conductivity and ability to improve the performance of various electronic components. Scandium is used in the production of solid oxide fuel cells (SOFCs), which are efficient energy conversion devices that generate electricity from hydrogen or other fuels. SOFCs are gaining popularity as sustainable energy solutions for residential, industrial, and commercial applications, thereby driving the demand for scandium. Additionally, scandium is used in the development of next-generation semiconductors and electronic devices, further supporting its importance in the electronics sector.
In the automotive industry, scandium plays a crucial role in the development of lightweight and high-performance materials for vehicle manufacturing. Aluminum-scandium alloys are increasingly being used in automotive components to reduce vehicle weight while maintaining strength and durability. This weight reduction contributes to improved fuel efficiency, lower carbon emissions, and enhanced overall vehicle performance. The shift towards electric vehicles (EVs) has also fueled the demand for scandium, as lightweight materials are essential for optimizing battery performance and increasing vehicle range. As automakers continue to innovate and adopt advanced materials to meet regulatory and sustainability goals, the use of scandium in automotive applications is expected to grow significantly.
Overall, the segmentation of the global scandium market by application highlights the diverse and expanding role of this rare earth metal across multiple industries. With ongoing advancements in aerospace, lighting, electronics, and automotive technologies, the demand for scandium is poised for steady growth. As industries seek lightweight, high-strength, and energy-efficient materials, scandium’s unique properties make it an increasingly valuable resource.
Global Scandium Market, Segmentation by End-User
The Global Scandium Market has been segmented by End-User into Aerospace and Defense, Solid Oxide Fuel Cells, Ceramics, Lighting, Electronics, 3D Printing, Sporting Goods and Others.
Notably, in aerospace and defense, scandium is prized for its incorporation into lightweight, high-strength aluminum-scandium alloys, crucial for crafting aircraft components and missile structures. These alloys enhance fuel efficiency and reduce weight, hence, being highly sought after in these industries.
Another significant sector for scandium is solid oxide fuel cells (SOFCs), where scandium oxide serves as a vital component in the electrolyte. This facilitates high-temperature operation and improves the efficiency of fuel cells for electricity generation. With the growing adoption of SOFC technology for clean energy, the demand for scandium rises as it enhances the performance and durability of SOFC systems, contributing to the transition towards sustainable energy solutions.
Beyond aerospace, defense, and SOFCs, scandium finds applications across diverse sectors such as ceramics, lighting, electronics, 3D printing, and sporting goods. For instance, in ceramics, scandium oxide reinforces materials, enhancing their mechanical properties and thermal stability for applications across automotive, aerospace, and industrial domains. Additionally, scandium-based lighting solutions offer high efficiency and superior color rendering, making them ideal for architectural and automotive lighting needs. The versatility of scandium underscores its significance and widespread adoption in various technological and manufacturing processes globally.
Global Scandium Market, Segmentation by Geography
In this report, the Global Scandium Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Scandium Market Share (%), by Geographical Region, 2024
The report offers a thorough examination of the global scandium market across key geographic regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In North America, significant growth is expected, buoyed by rising demand from the aerospace and defense sectors, where scandium alloys are sought-after for their lightweighting and strengthening properties. Additionally, the region's well-established industrial infrastructure and ongoing advancements in metallurgical processes contribute to the market's expansion.
Europe is positioned for considerable advancement in the scandium market throughout the forecast period. Driven by a focus on sustainability and energy efficiency, the adoption of scandium-based alloys in automotive and aerospace industries is on the rise. Stringent environmental regulations further propel the utilization of scandium to curb emissions and enhance fuel efficiency in transportation. Collaborations between research institutions and industry stakeholders also foster innovation in scandium applications, driving market growth in Europe.
The Asia Pacific region emerges as a pivotal market for scandium, propelled by rapid industrialization, urbanization, and infrastructure development. Notably, countries like China, Japan, and South Korea play significant roles in driving market growth, fueled by escalating demand from electronics, automotive, and renewable energy sectors. Moreover, supportive government initiatives promoting investments in advanced materials and technologies further bolster market expansion in the Asia Pacific region.
Scandium Market Forces
This report provides an in depth analysis of various factors that impact the dynamics of Scandium Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Comprehensive Market Impact Matrix
This matrix outlines how core market forces Drivers, Restraints and Opportunities affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.
Market Forces ↓ / Impact Areas → | Market Growth Rate | Competitive Landscape | Customer Behavior | Regulatory Influence | Innovation Potential |
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Drivers | High impact (e.g., tech adoption, rising demand) | Encourages new entrants and fosters expansion | Increases usage and enhances demand elasticity | Often aligns with progressive policy trends | Fuels R&D initiatives and product development |
Restraints | Slows growth (e.g., high costs, supply chain issues) | Raises entry barriers and may drive market consolidation | Deters consumption due to friction or low awareness | Introduces compliance hurdles and regulatory risks | Limits innovation appetite and risk tolerance |
Opportunities | Unlocks new segments or untapped geographies | Creates white space for innovation and M&A | Opens new use cases and shifts consumer preferences | Policy shifts may offer strategic advantages | Sparks disruptive innovation and strategic alliances |
Drivers, Restraints and Opportunity Analysis
Drivers:
- Expanding Applications in Aerospace and Defense
- Increasing Utilization in Solid Oxide Fuel Cells
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Emerging Opportunities in Emerging Economies: Emerging economies offer promising opportunities for the scandium market, fueled by their rapid industrialization, infrastructure expansion, and increasing investments in advanced materials. Across regions like Asia Pacific, Latin America, and parts of Africa, robust economic growth is driving demand for innovative solutions to address evolving industrial requirements. This includes the adoption of scandium-based materials across sectors such as aerospace, automotive, electronics, and renewable energy.
In these burgeoning economies, there's a rising need for lightweight and high-performance materials to support modernization efforts in infrastructure, transportation, and technological innovation. Scandium's unique characteristics, including its lightweight nature, high strength-to-weight ratio, and corrosion resistance, position it as an appealing choice for applications prioritizing durability and efficiency. As these nations continue their industrial development, the demand for scandium-based alloys, compounds, and technologies is expected to escalate.
Government initiatives aimed at fostering industrial growth, innovation, and sustainability are creating a favorable environment for the adoption of scandium-based solutions. Policies supporting research and development, technology transfer, and infrastructure enhancement are spurring the development and utilization of scandium technologies in emerging markets. Collaborations between local governments, industries, and international firms are facilitating knowledge sharing, skill development, and technology transfer, accelerating the integration of scandium-based materials across various sectors in these regions.
Restraints:
- Limited Availability and Supply Constraints
- High Production Costs and Price Volatility
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Regulatory Hurdles and Compliance Challenges: The scandium market encounters regulatory hurdles and compliance challenges, posing obstacles to its growth and operational efficiency. One key challenge stems from the absence of standardized regulations governing scandium's production, trade, and utilization. This lack of clear guidelines across different jurisdictions complicates compliance efforts for manufacturers and exporters, leading to uncertainties and delays in market access and product approvals. Additionally, varying regulatory frameworks and licensing requirements in different countries further exacerbate the complexity of navigating compliance procedures.
Scandium's classification as a rare earth element subjects it to heightened regulatory scrutiny, particularly concerning environmental considerations. Environmental regulations governing the mining, extraction, and processing of scandium ores present challenges for industry players, necessitating adherence to sustainable practices and stringent environmental standards. Compliance with these regulations adds to production costs and operational challenges, impacting the competitiveness of scandium-based products in the market.
Trade restrictions and tariffs imposed on rare earth elements, including scandium, by certain countries pose additional challenges for trade and supply chain management in the scandium market. Geopolitical tensions and trade disputes may disrupt scandium supply chains, affecting market dynamics and pricing. Moreover, compliance with export control regulations and restrictions on dual-use applications of scandium compounds in sensitive industries such as aerospace and defense further complicate market access and business operations for stakeholders in the scandium market. Overall, navigating regulatory hurdles and ensuring compliance with evolving regulations remain critical challenges for the scandium industry, influencing its growth trajectory and competitiveness in the marketplace.
Opportunities:
- Increasing Investments in Research and Development
- Expanding Applications in Renewable Energy Technologies
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Growing Demand for Lightweight Materials in Aerospace Industry: The scandium market is witnessing a significant upsurge in demand, largely driven by the aerospace industry's increasing need for lightweight materials. Scandium's unique characteristics position it as an attractive option for aerospace applications, particularly in the production of advanced alloys. Notably, scandium alloys, such as aluminum-scandium alloys, offer exceptional strength-to-weight ratios, making them highly suitable for components requiring both structural integrity and reduced weight. As the aerospace sector prioritizes fuel efficiency and performance enhancements, the demand for scandium-based alloys is expected to soar.
Within the aerospace domain, the pursuit of lightweight materials is fueled by the imperative to decrease aircraft weight and enhance fuel efficiency. Scandium alloys facilitate this objective by replacing heavier conventional materials with lighter alternatives, all while maintaining strength and durability. Components crafted from scandium alloys, such as fuselage structures, wing panels, and landing gear, play a pivotal role in overall weight reduction, thereby contributing to enhanced fuel economy and operational efficiency for airlines.
The aerospace industry's heightened emphasis on sustainability and environmental stewardship further underscores the significance of lightweight materials like scandium alloys. By reducing aircraft weight, scandium alloys aid in curbing fuel consumption and emissions, aligning with industry endeavors to mitigate environmental impact. As aerospace manufacturers continue to seek innovative solutions to address sustainability challenges, the demand for scandium-based materials is anticipated to remain robust, driving growth in the scandium market.
Scandium Market Competitive Landscape Analysis
Scandium Market is characterized by a competitive environment where leading companies are strengthening their presence through strategic collaboration, merger initiatives, and new project development. The industry is seeing consistent growth as enterprises focus on improving supply reliability and enhancing downstream applications. Strong emphasis on material innovation and enhanced extraction processes is shaping the market’s forward momentum.
Market Structure and Concentration
The market reflects a moderate level of concentration with a few established players driving significant influence. Strategic partnerships with aerospace and energy industries account for more than 45% of commercial applications. This structure encourages both vertical integration and regional sourcing, ensuring that demand is met with a balanced approach to production and supply chain stability.
Brand and Channel Strategies
Market participants are focusing on strong brand positioning and diversified strategies to increase adoption across high-value industries. Distribution channels emphasize partnerships with specialized suppliers to extend reach and reliability. By aligning with end-user industries such as automotive and defense, firms are enhancing customer trust and market penetration, further supporting long-term growth.
Innovation Drivers and Technological Advancements
Continuous technological advancements are propelling the market forward, especially in refining and alloying processes. Nearly 40% of ongoing projects emphasize innovation in scalable production methods to reduce costs and improve efficiency. Companies are investing in research collaborations with universities and research labs to establish new uses, creating a stronger pipeline of advanced applications for scandium-based materials.
Regional Momentum and Expansion
North America and Asia-Pacific exhibit strong momentum, accounting for more than 55% of market adoption due to infrastructure expansion and advanced industrial usage. Partnerships with regional governments and industrial clusters are driving efficient resource utilization. Emerging markets are gaining importance as producers establish collaboration with local firms to enhance supply accessibility and competitive positioning.
Future Outlook
The future outlook for the scandium market remains promising as demand from aerospace, energy, and high-performance materials continues to rise. Strategic merger activities, long-term supply agreements, and sustained innovation will play a pivotal role in shaping the next growth phase. With consistent investments and targeted expansion, the market is well-positioned for stable and progressive development.
Key players in Scandium Market include:
- Hunan Institute of Rare Earth Metal Materials
- MCC Group
- Sunrise Energy Metals
- Hunan Oriental Scandium Co., Ltd.
- Henan Rongjia Scandium Vanadium Technology Co., Ltd.
- Atlantic Equipment Engineers (Micron Metal Inc.)
- Australian Mines Ltd
- Clean TeQ Holdings Limited
- Huizhou Top Metal Materials Co., Ltd. (TOPM)
- Hunan Rare Earth Metal Material Research Institute
- JSC Dalur
- Materion Corporation (Cerac Inc.)
- NioCorp Development Ltd
- Platina Resources Limited
- Rusal
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Share Market Analysis
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Form
- Market Snapshot, By Distribution Channel
- Market Snapshot, By Application
- Market Snapshot, By End-User
- Market Snapshot, By Region
- Scandium Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers:
- Expanding Applications in Aerospace and Defense
- Increasing Utilization in Solid Oxide Fuel Cells
- Emerging Opportunities in Emerging Economies
- Restraints:
- Limited Availability and Supply Constraints
- High Production Costs and Price Volatility
- Regulatory Hurdles and Compliance Challenges
- Opportunities:
- Increasing Investments in Research and Development
- Expanding Applications in Renewable Energy Technologies
- Growing Demand for Lightweight Materials in Aerospace Industry
- Drivers:
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Scandium Market, By Type, 2021 - 2031 (USD Million)
- Oxide
- Fluoride
- Chloride
- Nitrate
- Iodide
- Alloy and Carbonate
- Others
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Scandium Market, By Form, 2021 - 2031 (USD Million)
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Metal
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Alloys
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Scandium Market, By Distribution Channel, 2021 - 2031 (USD Million)
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Direct Sales
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Online Retailers
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- Scandium Market, By Application, 2021 - 2031 (USD Million)
- Aerospace
- Lighting
- Electronics
- Automotive
- Scandium Market, By End-User, 2021 - 2031 (USD Million)
- Aerospace & Defense
- Solid Oxide Fuel Cells
- Ceramics
- Lighting
- Electronics
- 3D Printing
- Sporting Goods
- Others
- Scandium Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Scandium Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Hunan Institute of Rare Earth Metal Materials
- MCC Group
- Sunrise Energy Metals
- Hunan Oriental Scandium Co., Ltd.
- Henan Rongjia Scandium Vanadium Technology Co., Ltd.
- Atlantic Equipment Engineers (Micron Metal Inc.)
- Australian Mines Ltd
- Clean TeQ Holdings Limited
- Huizhou Top Metal Materials Co., Ltd. (TOPM)
- Hunan Rare Earth Metal Material Research Institute
- JSC Dalur
- Materion Corporation (Cerac Inc.)
- NioCorp Development Ltd
- Platina Resources Limited
- Rusal
- Company Profiles
- Analyst Views
- Future Outlook of the Market