What is Global Aluminium-Scandium Market?
The Global Aluminium-Scandium Market is a specialized and in-depth study of the aluminium-scandium industry with a focus on the global market trend. Aluminium-Scandium, also known as Al-Sc, is a high-performance alloy that is primarily used in aerospace and defense industries due to its high strength, light weight, and resistance to corrosion. The market for Aluminium-Scandium is growing due to its increasing use in various industries such as transportation, consumer goods, and others. The global market is driven by the growing demand for advanced materials in the aerospace industry and the increasing use of aluminium-scandium in the manufacturing of lightweight vehicles. However, the high cost of scandium and the lack of awareness about the benefits of aluminium-scandium alloys are some of the factors that may hinder the growth of this market.
Al-Sc 2% Alloy, Others in the Global Aluminium-Scandium Market:
Al-Sc 2% Alloy and Others are the two main types of products in the Global Aluminium-Scandium Market. Al-Sc 2% Alloy is an aluminium alloy with 2% scandium, which is known for its high strength, light weight, and excellent corrosion resistance. This alloy is widely used in the aerospace and defense industries for the manufacturing of aircraft components. On the other hand, Others include various other types of aluminium-scandium alloys that are used in different industries. The demand for these products is increasing due to their superior properties and wide range of applications. The global market for these products is expected to grow significantly in the coming years due to the increasing demand from various end-use industries.
Defense and Aerospace, Transportation, Consumer Goods, Other in the Global Aluminium-Scandium Market:
The Global Aluminium-Scandium Market finds its applications in various areas such as Defense and Aerospace, Transportation, Consumer Goods, and Others. In the Defense and Aerospace industry, aluminium-scandium alloys are used in the manufacturing of aircraft components due to their high strength, light weight, and excellent corrosion resistance. In the Transportation industry, these alloys are used in the manufacturing of lightweight vehicles to improve fuel efficiency and reduce emissions. In the Consumer Goods industry, aluminium-scandium alloys are used in the manufacturing of various products such as electronics, sports equipment, and others due to their superior properties. The Other applications include the use of these alloys in various other industries such as construction, energy, and others. The increasing demand from these industries is expected to drive the growth of the global market in the coming years.
Global Aluminium-Scandium Market Outlook:
The global Aluminium-Scandium market, which was valued at US$ 78 million in 2022, is projected to reach a value of US$ 120.2 million by 2029. This represents a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2023 to 2029. The market is dominated by the top four manufacturers who collectively hold a market share of over 50%. Geographically, China is the largest market for Aluminium-Scandium, accounting for over 35% of the global market share. This is followed by North America, which along with China, holds about 50% of the market share. The growth of the market in these regions can be attributed to the increasing demand for aluminium-scandium alloys in various industries such as aerospace, defense, transportation, and consumer goods.
| Report Metric | Details |
| Report Name | Aluminium-Scandium Market |
| Accounted market size in 2022 | US$ 78 in million |
| Forecasted market size in 2029 | US$ 120.2 million |
| CAGR | 6.3% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | RUSAL, Intermix-met, KBM Master Alloys, Stanford Advanced Materials, HNRE, Hunan Oriental Scandium, Guangxi Maoxin, AMG Aluminum, Codos, TOPM, Shanghai Diyang |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
