Scandium Market Market size, Industry outlook, Market Forecast, Demand Analysis, Market Share, Market Report 2022-2027 sales@industryarc.comVenkatContact:Reddy (+1) 970-236-3677
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Scandium Market size is valued at $69.7 million in 2019 growing at a CAGR over 10% to reach the market size of $104 million in 2025.
• Growing use in solid oxide fuel cells (SOFCs) and rising demand for aluminum-scandium alloys are the major factors driving the scandium industry. Nonetheless, lack of awareness, high cost, and erratic supply limit market growth.
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Key Takeaways
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During the forecast period, the shifting focus to use in the automotive industry and the rise of Australia as a new growth center are expected to provide prospects for the market being studied. The industry was dominated by the aerospace and defense segment. During the forecast period, it is likely to grow, with rising aircraft production worldwide. Brochure
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Aerospace and Defense Segment to Dominate the Market. One of scandium's most important uses is the preparation of aluminumscandium alloy, which is used in aircraft manufacture in the aerospace industry. Adding aluminum scandium helps to increase toughness, heat resistance, expand weldability and weld strength to a variety of aluminum alloy materials. According to the aircraft manufacturers, roughly 0.1-0.5 percent trace amount of aluminum added scandium will help not only improve aluminum capacity, but also help to reduce aircraft weight by 15 percent.
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Scandium Market By End Use Industries - Segment Analysis
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ScandiumMarket Industry Outlook • companies are Scandium International Mining Corp, Platina Resources Ltd, • CleanTeq, • Australian Mines Ltd, • and Alfa Aesar, • among Download PDF Brochure Contact: (+1) 970-2363677 Inquiry Before BuyingEmail: sales@industryarc.com
Scandium Market- Forecast(2022 - 2027) Learn More About the Report @ https://513a.short.gy/oorWm0 Contact: (+1) 970-2363677 Inquiry Before BuyingEmail: sales@industryarc.com Download PDF Brochure
You Can Customize the Report as Per Your Need. We have included Some Customization Options: Company Profile Analyst Briefing Data Tables Key Contacts Free Customization Purchase Full Report 3342https://www.industryarc.com/purchasereport.php?id=50@ Contact: (+1) 970-2363677 Inquiry Before BuyingEmail: sales@industryarc.com Download PDF Brochure
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