Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 15 Billion | USD 18 Billion | 8.2% | 2022 |
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 growth can be owing to large-scale product demand in the automotive sector.
According to a study, the global scandium metal industry size was $15 billion in 2022 and is projected to reach $18 billion by the end of 2030.
The global scandium metal market is anticipated to record a CAGR of nearly 8.2% from 2023 to 2030.
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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