Market Overview:
The global aluminum-scandium alloys market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for lightweight and high-strength materials in automotive and aerospace applications. Aluminum-scandium alloys are also used in other industries such as medical, energy, and construction. However, the high cost of scandium may restrain the market growth to some extent.
Product Definition:
Aluminum-scandium alloys are a type of aluminum alloy that contains scandium. They are used in a variety of applications, including aerospace and automotive parts.
2% Scandium:
2% scandium is a mixture of pure scandium and a small percentage of tin, iron, or other metals. It has the highest melting point (3°) and lowest boiling point (38 °C) among all rare earth elements.
1.5% Scandium:
1.5% scandium is a rare earth metal with chemical symbol Sc and atomic number 30. It is a member of the lanthanide series, which in turn are members of the periodic table. The last element in this series is lead with no known stable isotopes; hence it has been used as a standard for comparison throughout this article (as per IUPAC).
Application Insights:
The automotive application segment accounted for a volume share of over 40% in 2017. The use of aluminum-scandium alloys in the manufacturing process of automobiles is expected to witness growth on account of their lightweight properties, which reduces the overall vehicle weight and increases fuel efficiency. In addition, these alloys also provide superior strength and corrosion resistance which are highly valued in automobile manufacturing.
Aerospace application segment is projected to expand at a CAGR exceeding 10% from 2018 to 2030 owing to its high strength-to-weight ratio that makes it suitable for use as an aircraft component including landing gear doors, leading and trailing edge panels, fuselage structure, empennage or tailfin assembly among others. These alloys also offer low thermal expansion property as compared with other engineering materials thus making them suitable for use in critical applications where high mechanical strength along with excellent corrosion resistance is required.
Regional Analysis:
Asia Pacific aluminum-scandium alloys market is expected to grow at the highest CAGR of XX% from 2018 to 2030 owing to increasing demand for automobiles in China and India. In addition, growing aerospace industry in the region will drive product demand over the forecast period.
North America aluminum-scandium alloys market is driven by high consumption of these products for use in gas turbines and electric motors due to their enhanced properties such as lightweight, high efficiency, low emission and corrosion resistance. The presence of major aircraft manufacturers including Boeing Co.; Lockheed Martin Corporation; Airbus S.A.; Embraer S/A; Bombardier Inc.; Cessna Aircraft Company; Beechcraft Inc.; General Dynamics Corp.
Growth Factors:
- Growing demand from the aerospace and defense sectors as aluminum-scandium alloys are lightweight and have high strength-to-weight ratios
- Increasing use of aluminum-scandium alloys in sporting goods, such as bicycles, golf clubs, and fishing rods, due to their superior properties
- Rising popularity of 3D printing technology, which can be used to produce objects with complex shapes from a variety of materials including aluminum-scandium alloys
- Growing demand for energy efficient vehicles that utilize lightweight materials like aluminum-scandium alloys to improve fuel economy
- Technological advancements that result in improved manufacturing processes for producing aluminum-scandium alloys
Scope Of The Report
Report Attributes
Report Details
Report Title
Aluminum-scandium Alloys Market Research Report
By Type
2% Scandium, 1.5% Scandium, Other
By Application
Automobile, Aerospace, Other
By Companies
Rusal, Stanford Materials Corp., Metallica Minerals, Platina Resources Ltd., Scandium International Mining Corp., DNI Metals Inc., Sumitomo Metal Mining (SMM), MCC, CODOS, Hunan Oriental Scandium Co. Ltd., Huizhou Top Metal Materials Co., Ltd (TOPM), Rongjiayu Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
201
Number of Tables & Figures
141
Customization Available
Yes, the report can be customized as per your need.
Global Aluminum-scandium Alloys Market Report Segments:
The global Aluminum-scandium Alloys market is segmented on the basis of:
Types
2% Scandium, 1.5% Scandium, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automobile, Aerospace, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Rusal
- Stanford Materials Corp.
- Metallica Minerals
- Platina Resources Ltd.
- Scandium International Mining Corp.
- DNI Metals Inc.
- Sumitomo Metal Mining (SMM)
- MCC
- CODOS
- Hunan Oriental Scandium Co. Ltd.
- Huizhou Top Metal Materials Co., Ltd (TOPM)
- Rongjiayu Technology
Highlights of The Aluminum-scandium Alloys Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 2% Scandium
- 1.5% Scandium
- Other
- By Application:
- Automobile
- Aerospace
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Aluminum-scandium Alloys Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Aluminum-scandium alloys are a type of alloy that is made up of aluminum and Scandium. They are very strong and have a high melting point, so they can be used in products that need to be heat resistant or have a high temperature tolerance.
Some of the major companies in the aluminum-scandium alloys market are Rusal, Stanford Materials Corp., Metallica Minerals, Platina Resources Ltd., Scandium International Mining Corp., DNI Metals Inc., Sumitomo Metal Mining (SMM), MCC, CODOS, Hunan Oriental Scandium Co. Ltd., Huizhou Top Metal Materials Co., Ltd (TOPM), Rongjiayu Technology.
The aluminum-scandium alloys market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aluminum-scandium Alloys Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Aluminum-scandium Alloys Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Aluminum-scandium Alloys Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Aluminum-scandium Alloys Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Aluminum-scandium Alloys Market Size & Forecast, 2020-2028
4.5.1 Aluminum-scandium Alloys Market Size and Y-o-Y Growth
4.5.2 Aluminum-scandium Alloys Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 2% Scandium
5.2.2 1.5% Scandium
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automobile
6.2.2 Aerospace
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Aluminum-scandium Alloys Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aluminum-scandium Alloys Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 2% Scandium
9.6.2 1.5% Scandium
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automobile
9.10.2 Aerospace
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 2% Scandium
10.6.2 1.5% Scandium
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automobile
10.10.2 Aerospace
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 2% Scandium
11.6.2 1.5% Scandium
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automobile
11.10.2 Aerospace
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 2% Scandium
12.6.2 1.5% Scandium
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automobile
12.10.2 Aerospace
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 2% Scandium
13.6.2 1.5% Scandium
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automobile
13.10.2 Aerospace
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Aluminum-scandium Alloys Market: Competitive Dashboard
14.2 Global Aluminum-scandium Alloys Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Rusal
14.3.2 Stanford Materials Corp.
14.3.3 Metallica Minerals
14.3.4 Platina Resources Ltd.
14.3.5 Scandium International Mining Corp.
14.3.6 DNI Metals Inc.
14.3.7 Sumitomo Metal Mining (SMM)
14.3.8 MCC
14.3.9 CODOS
14.3.10 Hunan Oriental Scandium Co. Ltd.
14.3.11 Huizhou Top Metal Materials Co., Ltd (TOPM)
14.3.12 Rongjiayu Technology
