Europe Scandium Market Forecast to 2031 - Regional Analysis - by Derivative (Oxide, Iodide, Alloy, Zirconia, and Others) and Application (Aerospace and Defense, Solid Oxide Fuel Cells, Electronics, Ceramics, Lighting, Nuclear Applications, 3D Printing, and Others)
The Europe scandium market was valued at US$ 56.81 million in 2023 and is expected to reach US$ 382.80 million by 2031; it is estimated to record a CAGR of 26.9% from 2023 to 2031.
Burgeoning Demand for Aluminum-Scandium Alloys in Aerospace & Defense Sector Fuel Cells Boost Europe Scandium Market
Aluminum-scandium alloys, known for their exceptional strength-to-weight ratio, corrosion resistance, and high-temperature stability, have emerged as preferred materials for manufacturing critical components for aircraft and military applications. In the aerospace industry, lightweight materials are crucial for improving fuel efficiency and enhancing aircraft performance. Aluminum-scandium alloys enable the production of lighter and stronger airframes, engine components, and structural parts, contributing to increased payload capacity and extended service life of aircraft. Owing to the robust growth and technological advancements in the aerospace sector, the demand for aluminum-scandium alloys is poised to surge in the coming years.
In the manufacturing of products used in the defense sector, wherein durability, reliability, and performance are paramount, aluminum-scandium alloys are preferred for their ability to withstand harsh operating conditions and provide enhanced ballistic protection. These alloys find applications in military aircraft, armored vehicles, missiles, and munitions, where lightweight yet resilient materials are essential for maintaining operational superiority and ensuring mission success. In January 2024, the Defense Ministry of Indonesia signed a contract to buy 18 Rafale fighter jets from France. According to the Stockholm International Peace Research Institute (SIPRI), total global military expenditure increased by 3.7% in 2022 to reach a new high of US$ 2,240 billion. The US, China, and Russia were the three largest spenders in 2022 as they together accounted for 56% of the global total. The demand for aluminum-scandium alloys is expected to surge worldwide with the increasing defense budgets and acceleration of modernization efforts. The soaring demand from the aerospace & defense sector highlights the indispensable role of this metal and its alloys in enhancing the performance and capabilities of advanced products manufactured for this sector.
Europe Scandium Market Overview
The scandium market growth in Europe is attributed to the region's robust industrial landscape and technological advancements. Scandium holds significant potential for the aerospace, automotive, electronics, clean energy, and defense industries. The aerospace & defense sectors in European countries generate a significant demand for scandium-containing alloys due to their lightweight, high-strength properties; these alloys are used in aircraft components, missile systems, and military equipment, contributing to improved performance, fuel efficiency, and durability. The automotive industry in Europe is increasingly adopting scandium-aluminum alloys to produce lightweight and fuel-efficient vehicles. The growing electronics & semiconductors sector in Europe is creating a significant demand for scandium, driven by its critical role in enhancing the performance, efficiency, and reliability of electronic products as well as the versatility exhibited by scandium-containing materials in advanced electronic devices and semiconductor manufacturing processes.
As Europe continues to establish itself as a hub for technological innovation and manufacturing excellence, the demand for scandium is poised to rise further in the coming years. In addition, in semiconductor manufacturing, scandium oxide is used as a dopant to improve the conductivity and stability of semiconductor materials. Scandium-doped semiconductors enable the development of faster, more energy-efficient electronic devices with enhanced performance characteristics, which support high-speed computing, data processing, and telecommunications applications. The European Commission passed the EU Chips Act in April 2023 with an aim to double Europe's share in global chip production by 2030 by mobilizing US$ 47 billion in public and private investment. The plan included the expansion of advanced chip manufacturing technology and R&D facilities. As Europe ramps up its efforts to reduce reliance on foreign semiconductor suppliers and establish a robust domestic production ecosystem, the demand for scandium is expected to surge. This trend is driven by the need for high-quality materials that meet the stringent requirements of advanced semiconductor manufacturing processes. Further, the 5G for Europe Action Plan of the European Commission (EC) is a blueprint for private and public investments in 5G infrastructure in the EU. As the deployment of 5G networks accelerates across the continent, the demand for high-performance electronic components, particularly in the telecommunications sector, is on the rise. With its unique properties, scandium is poised to play a significant role in meeting the stringent requirements of 5G technology, thereby driving up demand for this rare earth element. Scandium's ability to enhance the conductivity and durability of materials makes it particularly valuable in the production of various components essential for 5G infrastructure. These include antennas, amplifiers, and other critical parts of telecommunications equipment. With 5G technology promising faster data speeds, lower latency, and increased network capacity, the demand for advanced materials that can support these capabilities is growing rapidly. Scandium's use in improving electronic device performance and ensuring telecommunications network reliability positions it as a key material in the 5G ecosystem.
Europe Scandium Market Revenue and Forecast to 2031 (US$ Million)
Europe Scandium Market Segmentation
The Europe scandium market is categorized into type, application, and country.
Based on type, the Europe scandium market is segmented into oxide, iodide, alloy, zirconia, and others. The oxide segment held the largest market share in 2023.
By application, the Europe scandium market is segmented into aerospace and defense, solid oxide fuel cells, electronics, ceramics, lighting, nuclear applications, 3D printing, and others. The others segment held the largest market share in 2023.
By country, the Europe scandium market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe scandium market share in 2023.
American Elements Inc, Rio Tinto Ltd, Scandium International Mining Corporation, and Hunan Oriental Scandium Co Ltd. are some of the leading companies operating in the Europe scandium market.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Europe Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Scandium Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Ecosystem Analysis
4.3.1 Mining
4.3.2 Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End Users
5. Europe Scandium Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Adoption of Solid Oxide Fuel Cells
5.1.2 Burgeoning Demand for Aluminum-Scandium Alloys in Aerospace & Defense Sector
5.1.3 Rising Demand from 3D Printing Industry
5.2 Market Restraints
5.2.1 High Cost
5.3 Market Opportunities
5.3.1 Advancements in Extraction and Processing Methods
5.4 Future Trends
5.4.1 Surging Popularity of Electric Vehicles
5.5 Impact of Drivers and Restraints:
6. Scandium Market - Europe Market Analysis
6.1 Europe Scandium Market Volume (Tons), 2020-2031
6.2 Scandium Market Volume Forecast and Analysis (Tons)
6.3 Scandium Market Revenue (US$ Million), 2020-2031
6.4 Scandium Market Revenue Forecast and Analysis (U$ Million)
7. Europe Scandium Market Volume and Revenue Analysis - by Derivative
7.1 Oxide
7.1.1 Overview
7.1.2 Oxide: Scandium Market - Volume and Forecast to 2031 (Tons)
7.1.3 Oxide: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Iodide
7.2.1 Overview
7.2.2 Iodide: Scandium Market - Volume and Forecast to 2031 (Tons)
7.2.3 Iodide: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Alloy
7.3.1 Overview
7.3.2 Alloy: Scandium Market - Volume and Forecast to 2031 (Tons)
7.3.3 Alloy: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Zirconia
7.4.1 Overview
7.4.2 Zirconia: Scandium Market - Volume and Forecast to 2031 (Tons)
7.4.3 Zirconia: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Scandium Market - Volume and Forecast to 2031 (Tons)
7.5.3 Others: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8. Europe Scandium Market Revenue Analysis - by Application
8.1 Aerospace and Defense
8.1.1 Overview
8.1.2 Aerospace and Defense: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Solid Oxide Fuel Cells
8.2.1 Overview
8.2.2 Solid Oxide Fuel Cells: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Electronics
8.3.1 Overview
8.3.2 Electronics: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Ceramics
8.4.1 Overview
8.4.2 Ceramics: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8.5 Lighting
8.5.1 Overview
8.5.2 Lighting: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8.6 Nuclear Applications
8.6.1 Overview
8.6.2 Nuclear Applications: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8.7 3D Printing
8.7.1 Overview
8.7.2 3D Printing: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
9. Europe Scandium Market - Country Analysis
9.1 Europe Scandium Market Revenue and Forecast and Analysis - by Country
9.1.1.1 Europe Scandium Market Volume and Forecast and Analysis - by Country
9.1.1.2 Europe Scandium Market Revenue and Forecast and Analysis -by Country
9.1.1.3 Germany Scandium Market - Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 Germany Scandium Market Breakdown by Derivative
9.1.1.4 France Scandium Market - Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 France Scandium Market Breakdown by Derivative
9.1.1.5 Italy Scandium Market - Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 Italy Scandium Market Breakdown by Derivative
9.1.1.6 United Kingdom Scandium Market - Revenue and Forecast to 2031 (US$ Million)
9.1.1.6.1 United Kingdom Scandium Market Breakdown by Derivative
9.1.1.7 Russia Scandium Market - Revenue and Forecast to 2031 (US$ Million)
9.1.1.7.1 Russia Scandium Market Breakdown by Derivative
9.1.1.8 Rest of Europe Scandium Market - Revenue and Forecast to 2031 (US$ Million)
9.1.1.8.1 Rest of Europe Scandium Market Breakdown by Derivative
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Company Profiles
11.1 American Elements Inc
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Rio Tinto Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Scandium International Mining Corporation
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Hunan Oriental Scandium Co Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
12. Appendix
12.1 About The Insight Partners
List of Tables
Table 1. Europe Scandium Market Segmentation
Table 2. Scandium Market - Volume and Forecast to 2031 (Tons)
Table 3. Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Table 4. Scandium Market - Volume and Forecast to 2031 (Tons) - by Derivative
Table 5. Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Derivative
Table 6. Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Application
Table 7. Europe Scandium Market - Volume and Forecast to 2031 (Tons) - by Country
Table 8. Europe Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Country
Table 9. Germany Scandium Market -Volume and Forecast to 2031 (Tons) - by Derivative
Table 10. Germany Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Derivative
Table 11. Germany Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Application
Table 12. France Scandium Market -Volume and Forecast to 2031 (Tons) - by Derivative
Table 13. France Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Derivative
Table 14. France Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Application
Table 15. Italy Scandium Market -Volume and Forecast to 2031 (Tons) - by Derivative
Table 16. Italy Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Derivative
Table 17. Italy Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Application
Table 18. United Kingdom Scandium Market -Volume and Forecast to 2031 (Tons) - by Derivative
Table 19. United Kingdom Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Derivative
Table 20. United Kingdom Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Application
Table 21. Russia Scandium Market -Volume and Forecast to 2031 (Tons) - by Derivative
Table 22. Russia Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Derivative
Table 23. Russia Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Application
Table 24. Rest of Europe Scandium Market -Volume and Forecast to 2031 (Tons) - by Derivative
Table 25. Rest of Europe Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Derivative
Table 26. Rest of Europe Scandium Market - Revenue and Forecast to 2031 (US$ Million) - by Application
List of Figures
Figure 1. Europe Scandium Market Segmentation, by Country
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem Analysis: Scandium Market
Figure 4. Scandium Market - Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Scandium Market Volume (Tons), 2020-2031
Figure 7. Scandium Market Revenue (US$ Million), 2020-2031
Figure 8. Europe Scandium Market Share (%) - Derivative, 2023 and 2031
Figure 9. Oxide: Scandium Market - Volume and Forecast to 2031 (Tons)
Figure 10. Oxide: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 11. Iodide: Scandium Market - Volume and Forecast to 2031 (Tons)
Figure 12. Iodide: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 13. Alloy: Scandium Market - Volume and Forecast to 2031 (Tons)
Figure 14. Alloy: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 15. Zirconia: Scandium Market - Volume and Forecast to 2031 (Tons)
Figure 16. Zirconia: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 17. Others: Scandium Market - Volume and Forecast to 2031 (Tons)
Figure 18. Others: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 19. Europe Scandium Market Share (%) - Application, 2023 and 2031
Figure 20. Aerospace and Defense: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 21. Solid Oxide Fuel Cells: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 22. Electronics: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 23. Ceramics: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 24. Lighting: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 25. Nuclear Applications: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 26. 3D Printing: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 27. Others: Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 28. Europe Scandium Market, by Key Countries - Revenue (2023) (US$ Million)
Figure 29. Europe Scandium Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 30. Germany Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 31. France Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 32. Italy Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 33. United Kingdom Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 34. Russia Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 35. Rest of Europe Scandium Market - Revenue and Forecast to 2031 (US$ Million)
Figure 36. Heat Map Analysis by Key Players
Figure 37. Company Positioning & Concentration
- American Elements Inc.
- Rio Tinto Ltd.
- Scandium International Mining Corporation.
- Hunan Oriental Scandium Co Ltd.
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