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The scandium market size is estimated to grow by USD 268.2 million at a CAGR of 8.51% between 2023 and 2028. The aluminum industry is experiencing a significant surge due to the increasing adoption of electronic content in hybrid and electric vehicles. This trend is driving up the demand for lightweight and durable aluminum alloys, particularly aluminum-scandium alloys. Additionally, the rising usage of Solid Oxide Fuel Cells (SOFCs) in various industries, including transportation and power generation, is boosting the demand for high-performance aluminum components. Furthermore, the aerospace and defense sectors continue to be major consumers of aluminum-scandium alloys due to their superior strength-to-weight ratio and corrosion resistance. These factors collectively position aluminum as a key material in various high-tech industries, ensuring a robust future for the aluminum industry.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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