According to the latest report by IMARC Group, titled “Scandium Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026,” the market to grow at a CAGR of XX% during 2021-2026.
Scandium is a silvery-white
metallic element obtained from thortveitite or extracted as a by-product from
uranium mill tailings. It has small-sized ions, low density and a high melting
point, enabling it to react with elements like zirconium, magnesium and
aluminum. Scandium iodide is added to mercury and metal-halide lamps to produce
light that has a tone similar to sunlight.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Scandium Market Trends:
The market is primarily
driven by the significant rise in the demand for solid oxide fuel cells (SOFCs)
to produce electricity as scandium assists in operating power generation
systems at much lower temperatures, thereby reducing the cost of SOFCs. Furthermore, the demand has been escalated by
the rising utilization of SOFC-based fuel cells in the transportation sector.
They are used in light-duty vehicles and warehouse forklifts to increase
vehicle efficiency by reducing oil usage and emissions. Additionally, the
growing need for a sustainable power generation method due to the increasing
electricity prices is contributing to the market growth.
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Scandium Market 2021-2026 Analysis and Segmentation:
Competitive
Landscape:
The competitive landscape
of the market has been studied in the report with the detailed profiles of the
key players operating in the market.
Australian Mines Limited,
Galileo Resources PLC, GFS Chemicals Inc., Hunan Oriental Scandium Co. Ltd.,
Lenntech B.V., Materion Corporation, Merck KGaA, Niocorp Developments Ltd.,
Platina Resources Limited, Scandium International Mining Corporation, Sumitomo
Metal Mining Co. Ltd and Thermo Fisher Scientific Inc.
The report has segmented
the market on the basis on region, disc type, material type and end user.
Breakup
by Product Type:
- Oxide
- Fluoride
- Chloride
- Nitrate
- Iodide
- Alloy
- Others
Breakup
by Application:
- Aluminum-scandium
Alloys
- High-intensity Metal
Halide Lamps
- Lasers
- Solid Oxide Fuel Cells
Breakup
by End Use Industry:
·
Aerospace
and Defense
·
Ceramics
·
Lighting
·
Electronics
·
3D
Printing
·
Sporting
Goods
·
Others
Breakup
by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
·
Middle East and Africa
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Analyst for Customization and Explore Full Report with TOC & List of
Figure: https://www.imarcgroup.com/scandium-market
Key
highlights of the report:
- Market Performance
(2015-2020)
- Market Outlook
(2021-2026)
- Porter’s Five Forces
Analysis
- Market Drivers and
Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping
of the Competitive Landscape
If you need specific
information that is not currently within the scope of the report, we can provide
it to you as a part of the customization.
If you want latest primary
and secondary data (2021-2026) with Cost Module, Business Strategy,
Distribution Channel, etc. Click request free sample report, published report
will be delivered to you in PDF format via email within 24 to 48 hours of
receiving full payment.
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IMARC Group is a leading
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biotechnology, advanced materials, pharmaceuticals, food and beverage, travel
and tourism, nanotechnology and novel processing methods are at the top of the
company’s expertise.
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