| Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 14.93 Billion | USD 39.97 Billion | 9.5% | 2024 |
FrequentlyAsked Questions
Scandium is a rare earth metal that is silvery-white in color and is available in rare earth deposits and uranium compounds.
The global scandium metal market is expected to grow due to Increasing use in aerospace alloys, fuel cells, and 3D printing drives demand. Limited availability and rising R&D into lightweight materials also support growth.
According to a study, the global scandium metal market size was worth around USD 14.93 Billion in 2024 and is expected to reach USD 39.97 Billion by 2034.
The global scandium metal market is expected to grow at a CAGR of 9.5% during the forecast period.
The Asia-Pacific scandium metal industry is set to register the highest CAGR over the forecasting timeline owing to the presence of key manufacturers in countries such as China, India, and Japan. Apart from this, the growing focus of firms across various end-user sectors on making use of green products as a part of corporate social responsibility of reducing environmental pollution will prompt the regional industry size.
The global scandium metal market is led by players such as Scandium International Mining Corp., Rusal, Huizhou Top Metal Materials Co., Ltd (TOPM), Materials Corp., CODOS, Metallica Minerals, Sumitomo Metal Mining (SMM), MCC, Platina Resources Ltd., DNI Metals Inc., Hunan Oriental Scandium Co. Ltd., and Rongjiayu Technology.
The scandium metal market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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