Using this information we were able to model future demand using internal (for sectors such as automotive) and external (aviation industry) forecasts combined with a set of basic, transparent assumptions. The problem is that manufacturers have never been able to get hold of sufficient scandium supplies. The scandium market is expected to register a CAGR of around 11% (in terms of volume), during the forecast period. Other sources of the metal — in oxide form and as a byproduct (around 2.5 tonnes per annum of scandium oxide ) from China, Ukraine and Russia. It is mainly sourced as a byproduct of other metals (usually titanium, uranium or tungsten). Scandium is a very small market that has plenty of growth potential. The MarketWatch News Department was not involved in the creation of this content. We identified the key scandium-consuming sectors and undertook research to establish typical scandium consumption rates in each of these sectors. Scandium has a vast history and an array of applications. Summary. Scandium alloyed with aluminium (Al) is a light and strong high-performance material that can be used to reduce the weight (and therefore the energy consumption) of airplanes and vehicles. May 29, 2013 Tweet. Scandium International believes that an assured source of scandium, offered at realistic pricing levels, will promote dramatic increases in commercial scandium demand. Based on the production and pricing estimates outlined in the definitive feasibility study, Scandium International believes the Nyngan Scandium Project can meet market expectations for both supply and price. The primary source of Scandium, estimated by one aspiring market participant to be 3.5 tonnes per annum, is in oxide form from old Soviet stockpiles. Can you give us a detailed description of its applications and features? Thank you! Regular supply, such as that predicted to come from Queensland, will see the scandium use increase and become more common. Aluminium / scandium alloy could play a significant role. Scandium is a silvery metal that is soft and has a density of about three times that of water. The addition of scandium on aluminium alloys is a great opportunity to deliver unprecedented customer value to future automotive & aerospace needs for lighter and stronger aluminium castings. It’s a key part of operating in a more responsible way and providing the essential materials our world needs for a sustainable future.” The Value of Scandium Sample of scandium oxide produced at the RTFT facility. As critical minerals with sparse terrestrial sources, barring a future surge in demand, accessing seafloor deposits represents a strategic, rather than purely commercial, decision. Scandium (Sc) is a silvery-white metallic transition metal, often classified as a rare earth element (REE), together with yttrium (Y) and the 15 lanthanides (La). Scandium oxide appears as a free flowing white powder. The main goal of the report is to estimate the size of the Global Scandium Oxide Market and the growth potential across different segments and sub-segments. Impact of Covid 19 on the Scandium market in 2020 in depth research on prices , stocks , volume and growth , latest news and results , expansion plan , current business strategy , key company , sales , revenue and competition , production and consumption , supply and demand , industry and business studies , impact of Covid 19 buyers and sellers and forecast for 2020 – 2025 The major factors driving the growth of the market studied are the accelerating usage in solid oxide fuel cells (SOFCs), and the rising demand for aluminum-scandium alloys. Scandium: an element at initial stage with promising future ----Interview with Li Huanxin, Chairman of Codos (Shanghai) Technology Development Co., Ltd. Asian Metal: Good Morning, Mr. Li, thank you for accepting the interview of Asian Metal. RTFT is scheduled to commence commercial supply of scandium oxide in the second quarter of 2021, with the plant designed to add further modules in the future. Despite not extraordinarily sparse in the Earth’s crust, Sc … Scandium is a rare-earth metal, used in small amounts but with drastic effects on properties of matter. The expectation is the plant will feed into Rio's established aluminium business to produce aluminium-scandium alloys. Rio will be able to scale output via modular expansions in future. Future of Scandium Market Remains Obscure. Since then, scandium has also found its way into electrolyte material in solid oxide fuel cells, an application that fuels a major portion of global scandium demand and will continue to for the foreseeable future. The expectation is the plant will feed into Rio's established aluminium business to produce aluminium-scandium alloys. Rio will be able to scale output via modular expansions in future. Scandium demand, in particular, could finally mark the long-expected return of the United States to … Asian Metal: Scandium is the focus of this interview. As an element with a promising future, what do you think is the value of scandium? Currently, scandium is … Mr. Li: The applications of scandium have been restricted by … At present, global consumers of scandium still depend on ex-Soviet stockpiles, and the global scandium supply is very short. The scandium market is expected to register a CAGR of around 11% (in terms of volume), during the forecast period. A silvery-white metallic d-block element, it was discovered in 1879 by spectral analysis of the minerals euxenite and gadolinite from Scandinavia. Scandium is a silvery-white, rare earth metallic element. Rio Tinto will invest $6m to develop the first module in the plant. Overview Of Scandium Oxide Market 2020-2027: A new report titled, “Global Scandium Oxide Market ” has been added into its vast repository by Reports Monitor. Snapshot Scandium (III) oxide, Sc2O3, is a high melting rare earth oxide. “Scandium Oxide Market (2020-2025) Forecast: The latest report titled “Scandium Oxide Market Insights and Analysis” added by Regal Intelligence reveals a number of changes in the market. It should be noted that scandium is the 50th most common element, and the 35th most abundant element present in the earth's crust. It also seems that Australia and most specifically New South Wales will be the epicentre of Scandium activity for the short term and maybe even farther into the future. Scandium is not rare; it is only a matter of production to get enough. Scandium is a silvery-white metallic rare-earth element, used primarily as a strengthening additive to aluminium alloys, typically within aerospace and defence industries. Below is an overview of the scandium market as it stands today. Years ago, the main source was the Ukraine, but now there are sources for scandium in Russia, China, Australia, Canada, and even the United States. Scandium (Sc) is a key ingredient in the new solid oxide fuel cell market, and in light Scandium’s low production levels have restricted its usefulness, but likely future increased production will lead to more research and wider use. Additionally, it is used to produce aluminium-scandium master alloys for the aerospace, defence and 3D printing industries. High-grade, high-quantity, highly anticipated The SCONI ( scandium, cobalt and nickel) project is a three metal project, wholly owned by Metallica Minerals, an Australian based resource exploration and development company that has over 2000 shareholders, one of which is Jilin Mining Pty Ltd , a fullyowned sibsidiary of China's second largest nickel producer, the Jilin Group. Aerogel is an excellent thermal insulator. Given the mineralogical similarities, LMI (particularly those with alkaline affinities) may also host future scandium resources. The construction-ready Nyngan nickel-cobalt-scandium project, where Conic holds a 1.7% gross revenue royalty, is fully permitted and held by U.S.-based Scandium International Mining (TSX: SCY). It is used in the preparation of other scandium compounds as well as in high-temperature systems (for its resistance to heat and thermal shock), electronic ceramics, and glass composition (as a helper material). 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