Scandium Market Size, Share, Opportunities, And Trends By Product Type (Scandium Oxide, Scandium Metal, Scandium Alloys, Scandium Compounds, Others), By Application (Aluminum-Scandium Alloys, Solid Oxide Fuel Cells (SOFCs), High-Intensity Discharge (HID) Lamps, Lasers, Others), By End-Use Sector (Aerospace and Defense, Automotive, Energy, Electronics, Additive Manufacturing, Others), And By Geography – Forecasts From 2025 To 2030

Scandium Market Size:

Scandium market is valued at US$359.749 million in 2025 is projected to grow at a CAGR of 6.37% to reach US$489.802 million in 2030.

Scandium is a chemical element that is silvery-white, metallic, and has been categorized in the past as a rare earth resource. Scandium oxide, the main ore and the prime source of scandium metal, its other compounds, and alloys, is produced in small quantities in limited regions across the world. The best aspect of this oxide is that it is mined and extracted from the rarest rare earth and uranium compounds through the mining process and subsequent purification. Scandium has high electrical conductivity, acts as a heat stabilizer, offers creep-resistant properties, and is lightweight, making it an increasingly integral part of various profitable and industrial sectors.

The market is driven by several factors, such as the growing usage of Solid Oxide Fuel Cells (SOFCs), increasing demand in aerospace, and rising usage in the automotive industry. The rising demand for clean energy due to environmental concerns about energy generation from conventional sources, such as coal and natural gas, is projected to fuel the demand for SOFCs, which in turn will propel market growth for scandium during the forecast period. Scandium is also used in making alloys, which are utilized in the manufacturing of bicycles and other sports equipment. Growing international trade has shown that the location of manufacturing has largely shifted from where products are consumed. China, and Russia dominate the market in the production of scandium. In addition, several small mining companies in Australia are working to develop scandium deposits in New South Wales, owing to which Australia is expected to emerge as a new growth hub.

Many companies are looking at the prospect of producing scandium as a by-product. With the shifting dynamics in the aerospace and aircraft manufacturing industry, the global demand for scandium could rise to an enormous level in a relatively short time. Additionally, new opportunities in the chemical refining industry appear to be a good avenue for scandium producers to capture during the forecast period.

By product, the metal and alloy segments are estimated to hold a dominant market share owing to their increasing usage across various industries, such as manufacturing, aerospace, and SOFCs. By industry application, the SOFCs segment is expected to hold a significant market share due to its usage in power generation.

The aerospace industry is projected to hold a notable market share as scandium is used in the preparation of aluminum-scandium alloy, used in the aerospace industry for manufacturing aircraft. When scandium is added in trace amounts (about 0.1% to 0.5%) to aluminum, the strength of aluminum increases while reducing weight by 15% to 20%. Thus, the use of scandium in the aerospace industry is further estimated to grow during the forecast period. Geographically, the Asia Pacific region is estimated to hold the majority market share as China has one of the highest reserves of scandium in the world.

The North American region, especially the United States, is projected to hold a noteworthy share as the U.S. is the largest aerospace industry in the world. This is likely to increase the usage of scandium in the country.

Scandium Market Growth Factors:

• Increasing Development in SOFCs

The accelerated development of SOFCs for high energy efficiency is expected to propel market growth as aluminum-scandium alloys offer electrical conductivity and heat stabilization qualities. These alloys are largely used in aerospace and other high-performance industries. SOFCs operate at low temperatures, reducing component costs and extending fuel cell life, which makes them a competitive and cost-effective source of electricity. Thus, the increasing usage and development of SOFCs are expected to spur market growth during the forecast period.

• Increasing Construction of Airports and Growing Demand for Aircraft

Scandium is largely used in the manufacturing of aircraft. Due to the rapidly increasing population, the shift toward urbanization, rising disposable income, and changes in people’s lifestyles, the development of more aircraft and airports is being encouraged, especially in developing countries, which will consequently boost the market growth of the scandium market during the forecast period.

Scandium Market Restraints:

• Inconsistent Supply of Raw Materials

Scandium is a rare earth resource. It is obtained from minerals such as thortveitite, bazzite, and wiikite, or as a byproduct of refining uranium. The increasing demand for scandium across various industries is causing a shortage in its supply on the market. There is no consistent source of supply for scandium, which results in shortages and inconsistent availability. This may hamper market growth during the forecast period as, if scandium is not available to meet the increasing demand, industries will be forced to use alternatives.

The Scandium Market Report provides a detailed analysis of the global scandium industry, delivering strategic insights supported by data-driven forecasts and in-depth evaluations. This regularly updated report equips decision-makers with actionable intelligence on market trends, growth opportunities, and competitive dynamics. It examines demand across various scandium product types, applications, and end-use sectors, while also assessing technological advancements, regulatory frameworks, government policies, and macroeconomic factors to offer a holistic view of the market.

Scandium Market Segmentations:

Scandium Market Segmentation by product type

The market is analyzed by product type as follows:

• Scandium Oxide
• Scandium Metal
• Scandium Alloys
• Scandium Compounds
• Others

Scandium Market Segmentation by application

The market is segmented by application:

• Aluminum-Scandium Alloys
• Solid Oxide Fuel Cells (SOFCs)
• High-Intensity Discharge (HID) Lamps
• Lasers
• Others

Scandium Market Segmentation by end-use sector

The report analyzes the market by end-use sector:

• Aerospace and Defense
• Automotive
• Energy
• Electronics
• Additive Manufacturing
• Others

Scandium Market Segmentation by regions:

The study also analysed the scandium market into the following regions, with country-level forecasts and analysis as below:

• North America (US, Canada and Mexico)
• South America (Brazil, Argentina, and Others)
• Europe (Germany, UK, France, Spain, Italy and Others
• Middle East and Africa (Saudi Arabia, UAE and Others)
• Asia Pacific (China, Japan, India, South Korea, Thailand, Indonesia, and Others)

Scandium Market Competitive Landscape:

The global scandium market features key players such as Hunan Oriental Scandium Co. Ltd., Scandium International Mining Corp., NioCorp Developments Ltd., Platina Resources Ltd., Australian Mines Limited, Sumitomo Metal Mining Co. Ltd., Materion Corporation, GFS Chemicals Inc., Stanford Materials Corp., and Thermo Fisher Scientific Inc.

Scandium Market Report Coverage:

This report provides extensive coverage as explained in the points below:

• Scandium Market Size, Forecasts, and Trends by Product Type: Historical revenue data and analysis focusing on adoption drivers, challenges faced by key players, and high-growth areas such as scandium alloys and oxides.
• Scandium Market Size, Forecasts, and Trends by Application: Insights into the rising demand for aluminum-scandium alloys in aerospace and solid oxide fuel cells in energy sectors.
• Scandium Market Size, Forecasts, and Trends by End-Use Sector: Historical revenue data and analysis across sectors, highlighting aerospace and defense and energy as key adopters.
• Scandium market is also analysed across different regions, with historical data, regional share, attractiveness and opportunity of these solutions in different countries. The growth prospects and key players operating in these markets. The section also dwells on the macro factors, economic scenario and other complementing factors aiding in market growth.
• Market dynamics: The section details the market growth factors, restraints, and opportunities in the market. The segment also presents complete market scenario with the help of Porter’s five forces model.
• Competitive Intelligence: A thorough investigation on the competitive structure of the market presented through proprietary vendor matrix model, market share analysis of key players, insights on strategies of key players and recent major developments undertaken by the companies to gain competitive edge.
• Research methodology: The assumptions and sources which were considered to arrive at the final market estimates. Additionally, how our model is refined to ensure most significant factors are taken into consideration with the proper hypothesis and bottom-up and top-down approaches enhance the reliability of forecasts further strengthening the trustworthiness of the numbers being presented.

How this report is helpful to you and reasons for purchase?

• The report provides a strategic outlook of the scandium market to the decision-makers, analysts and other stakeholders in the easy to read format for taking informed decisions.
• The charts, tables and figures make it easy for the executives to gain valuable insights while skimming the report.
• Analyst support through calls and email for timely clarification and incorporating additional requests.
• Option of presentation or doc format with the estimates file to take care of diverse requirements.
• 15% FREE customization with all our reports help cater additional requirements with significant cost-savings.
• Option of purchasing specific segments of the study, including opting for summary reports or just the estimates file. 

Scandium Market Scope:

Report Metric	Details
Scandium Market Size in 2025	US$359.749 million
Scandium Market Size in 2030	US$489.802 million
Growth Rate	CAGR of 6.37%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Million
Segmentation	Product Type Application End-Use Sector Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the Scandium Market	Hunan Oriental Scandium Co. Ltd. Scandium International Mining Corp. NioCorp Developments Ltd. Platina Resources Ltd. Australian Mines Limited
Customization Scope	Free report customization with purchase

 

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1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK

5. SCANDIUM MARKET BY PRODUCT TYPE

5.1. Introduction

5.2. Scandium Oxide

5.3. Scandium Metal

5.4. Scandium Alloys

5.5. Scandium Compounds

5.6. Others

6. SCANDIUM MARKET BY APPLICATION

6.1. Introduction

6.2. Aluminum-Scandium Alloys

6.3. Solid Oxide Fuel Cells (SOFCs)

6.4. High-Intensity Discharge (HID) Lamps

6.5. Lasers

6.6. Others

7. SCANDIUM MARKET BY END-USE SECTOR

7.1. Introduction

7.2. Aerospace and Defense

7.3. Automotive

7.4. Energy

7.5. Electronics

7.6. Additive Manufacturing

7.7. Others

8. SCANDIUM MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Spain

8.4.6. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. India

8.6.4. South Korea

8.6.5. Taiwan

8.6.6. Thailand

8.6.7. Indonesia

8.6.8. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Hunan Oriental Scandium Co. Ltd.

10.2. Scandium International Mining Corp.

10.3. NioCorp Developments Ltd.

10.4. Platina Resources Ltd.

10.5. Australian Mines Limited

10.6. Sumitomo Metal Mining Co. Ltd.

10.7. Materion Corporation

10.8. GFS Chemicals Inc.

10.9. Stanford Materials Corp.

10.10. Thermo Fisher Scientific Inc.

11. APPENDIX

11.1. Currency 

11.2. Assumptions

11.3. Base and Forecast Years Timeline

11.4. Key benefits for the stakeholders

11.5. Research Methodology 

11.6. Abbreviations 

Hunan Oriental Scandium Co. Ltd.

Scandium International Mining Corp.

NioCorp Developments Ltd.

Platina Resources Ltd.

Australian Mines Limited

Sumitomo Metal Mining Co. Ltd.

Materion Corporation

GFS Chemicals Inc.

Stanford Materials Corp.

Thermo Fisher Scientific Inc.