The Global Scandium Market has been estimated at XX kilograms in 2015 and is projected to reach XX kilograms by 2020, at a CAGR of 11.47% during the forecast period from 2015 to 2020. The market witnessed a year on year growth of below XX.XX% from 2014 to 2015. Scandium-oxide, the major ore and primary source of scandium metal, and its various compounds and alloys are produced in small quantities in limited geographic regions across the world.
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The majority of the aforementioned oxide is extracted from the deposits of rare earth and uranium compounds during their mining and subsequent purification. A small amount is also being extracted from scarcely found minerals, such as thortveitite, euxenite, and gadolinite.
Because of the absence of major commercially viable source of scandium oxide, that can ensure consistent supply, the product has very low or negligible international trade.
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Depending on the purity and size of customers requirement, with quantity levels ranging from very small (~5 grams) to large (>1 kilograms), it is mostly sold through private partnerships and contracts at undisclosed prices.
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Scandium, owing to excellent electrical conductivity, heat stabilizer and creep resistant properties, and light weight, is becoming an integral part of various commercial and industrial sectors. In the Scandium market report, we have taken the following major end-user sectors into consideration: Aerospace and Defense, Solid Oxide Fuel Cells (SOFCs), Electronics, Ceramics, Lighting, Phosphorous CRT (Displays), 3D Printing, and Others (Chemical Refining, Sports Goods, and Automotive).
The Aerospace and Defense segment accounted for XX.XX% share of the Global Scandium market in 2015.
This market is driven by a number of factors, such as accelerating usage in SOFCs. However, this market faces certain drawbacks, such as inconsistent supply and high cost of scandium oxide.
These factors may act as a roadblock to the growth of the market.
The market has also been geographically segmented on consumption and production basis. In terms of consumption in 2015, China led the market with a share of XX.XX%.
It was followed by European Union and United States. Owing to the high reserves of Scandium resulting in stable price of Scandium oxide 99.95% purity, combined with the restrictive scandium export policies enacted by the government; scandium consumption is increasing in China.
Furthermore, the shifting focus towards usage in automotive industry and aerospace industry (manufacturing of aircrafts) will offer numerous opportunities in the growth of the Global Scandium market. Some of the major companies dominating this market for its products, services, and continuous product developments are Scandium International Mining Corp., Hunan Oriental Scandium Co. Ltd., Platina Resources Ltd., Clean TeQ., Metallica Minerals, and Beijing Cerametek Materials.
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Key Deliverables in the Study
- Market analysis for the Global Scandium Market, with region-specific assessments and competition analysis on global and regional scales
- Market definition along with the identification of key drivers and restraints
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
- Extensively researched competitive landscape section with profiles of major companies along with their market shares
- Identification and analysis of the macro and micro factors that affect the Global Scandium market on both global and regional scales
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
- Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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