What is Global High Purity Scandium Metal Market?
The Global High Purity Scandium Metal Market is a specialized and in-depth study of the scandium metal industry with a focus on the global market trend. Scandium is a silvery-white metallic d-block element, it has historically been classified as a rare-earth element, together with yttrium and the lanthanides. High purity scandium metal refers to scandium metal with purity above 99%. The report aims to provide an overview of the global High Purity Scandium Metal Market with detailed market segmentation by product/application and geography. The global High Purity Scandium Metal Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the High Purity Scandium Metal players and offers key trends and opportunities in the market.
Purity 99.99%-99.999%, Purity 99.9%-99.99% in the Global High Purity Scandium Metal Market:
The Global High Purity Scandium Metal Market is segmented based on purity into two categories: Purity 99.99%-99.999% and Purity 99.9%-99.99%. The former is the highest purity level of scandium metal available in the market. This high purity level is often required in industries where superior quality and performance are paramount. The latter, Purity 99.9%-99.99%, is also a high purity level but is often used in applications where the highest purity is not necessary. Both these purity levels are produced using advanced purification techniques to ensure the highest quality. The demand for these high purity scandium metals is driven by their use in various applications such as in the production of high-strength alloys, in the electronics industry, and in research and development activities.
Processing and Manufacturing, Energy Field, Aerospace in the Global High Purity Scandium Metal Market:
The Global High Purity Scandium Metal Market finds its usage in various areas such as Processing and Manufacturing, Energy Field, and Aerospace. In the Processing and Manufacturing industry, high purity scandium metal is used in the production of high-strength scandium-aluminum alloys which are used in the manufacturing of equipment and components that require high strength-to-weight ratio. In the Energy Field, scandium is used in solid oxide fuel cells (SOFCs) due to its high heat stability and conductivity. In the Aerospace industry, scandium-aluminum alloys are used in the manufacturing of aircraft components due to their light weight and high strength. The demand in these areas is expected to drive the growth of the Global High Purity Scandium Metal Market.
Global High Purity Scandium Metal Market Outlook:
The Global High Purity Scandium Metal Market is showing promising growth prospects. As per the market outlook, the market was valued at US$ 46 million in 2022. It is projected to reach a value of US$ 63 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period from 2023 to 2029. This growth can be attributed to the increasing demand for high purity scandium metal in various industries such as processing and manufacturing, energy, and aerospace. The market is dominated by the top 3 companies, which collectively hold a share of over 83%. This shows the concentrated nature of the market, with a few key players holding a major share.
| Report Metric | Details |
| Report Name | High Purity Scandium Metal Market |
| Accounted market size in 2023 | US$ 48 million |
| Forecasted market size in 2029 | US$ 63 million |
| CAGR | 4.6 |
| Base Year | 2023 |
| 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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| Sales by Region |
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| By Company | Huizhou Top Metal Materials, GRINM, Stanford Materials Corp., United Company RUSAL Plc, Platina Resources, Scandium International Mining Corp., Hunan Dongfang scandium Industry, Rare Earth Materials, Shanghai Sheeny Metal Mateirals, Zhongnuo Advanced Material(Beijing)Technology, SkySpring Nanomaterials, American Elements |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
