Published on : Feb 05, 2018
Albany, New York, February 5, 2018: A new research report highlighting the future prospects of scandium, and the impact of its growing commercial applications has been added to the vast database of Market Research Hub (MRH). The report titled “Global Scandium Market Outlook 2017-2022” offers holistic information and analysis on the projected growth of the scandium market globally. According to the report, the global scandium market is projected to grow at a CAGR of nearly 6.3% during the assessment period 2017-2022. The commercial applications of scandium have remained limited in the past, owing to its low affinity for other minerals. However, the R&D efforts carried out in the last decade are likely to provide an impetus to its application in various end-use industries, especially in the battery industry.
The report offers detailed analysis and commentary on the demand supply scenario in the market. Scandium is not principally produced, and its extraction is usually a by-product of mining for other elements. However, as the commercial applications of scandium are growing, some companies have taken up scandium mining as a principal activity. Owing to the deposits of scandium, most of these companies are located in China, Ukraine, and Russia.
The report analyzes the global scandium market on the basis of volume and revenues. A historical analysis for the period 2012-2016 has been offered, and projections made for the year 2017-2022. The drivers, restraints, threats, and opportunities impacting production and revenue growth are discussed in detail in the report. The information presented in the report has been compiled from specialized sources in a bid to offer readers credible and transparent insights.
The report also offers a competitive landscape scenario that profiles the business and product strategies of some of the leading players in this market. The competitive scenario analysis is a valuable source of guidance and information that can help decision-makers in gaining competitive insights about the market. The key parameters discussed in the report include product portfolio, company overview, financial overview, and recent R&D initiatives. This section of the report will be particular beneficial for those companies who are planning to make a foray into the market, or thinking about expanding to new markets.
The report has segmented the market on the basis of application into LED & laser, battery, and electronics. These are the three prominent industries where scandium is used currently, and it is highly likely that demand from these three industries will continue to fuel market growth during the assessment period.
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