Although scandium (Sc) is an element historically referred to as a Rare Earth (RE) metal, more recently it has been recognised as a stand-alone metal with the potential for several high value and high-volume commercial applications. Scandium has long been recognised as a valuable metal, however it’s low concentration in the earth’s crust, of 22 ppm, has meant prohibitively expensive extraction costs, at least as a primary mine output, and especially given its historically low demand fundamentals.
The Solid Oxide Fuel Cell (SOFC) market has been the largest global market for scandia (the oxide of Sc) for the past decade, representing an estimated 90% of total global demand in 2020. Growth prospects for the SOFC market are forecast to remain strong over the next decade.
This report is the latest update on top of our 2018 and 2020 reports, providing CM’s independent view of the outlook for the global Sc market by key market sector with price outlook, as well as a decent look into the competition, including Chinese producers, and the industry cost structure as we currently see it.
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