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Scandium Iodide Market

Scandium Iodide Market

The market for Scandium Iodide was estimated at $211 million in 2024; it is anticipated to increase to $326 million by 2030, with projections indicating growth to around $468 million by 2035.

Report ID:DS1309036
Author:Vineet Pandey - Business Consultant
Published Date:October 2025
Datatree
Chemicals & Materials
Specialty Chemicals
Scandium Iodide
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Report Summary
Table of Contents
Methodology
Market Data

Global Scandium Iodide Market Outlook

Revenue, 2024

$211M

Forecast, 2034

$435M

CAGR, 2024 - 2034

7.5%
The Scandium Iodide industry revenue is expected to be around $227.1 million in 2025 and expected to showcase growth with 7.5% CAGR between 2025 and 2034.

Scandium Iodide is a compound that is in high demand in various industries like electronics and pharmaceutical sectors as well as in lighting applications due to its exceptional ability to generate bright and energy efficient light in metal halide lamps which has driven its use, in industrial and commercial settings.

Scandium Iodide market outlook with forecast trends, drivers, opportunities, supply chain, and competition 2024-2034

Market Key Insights

  • The Scandium Iodide market is projected to grow from $211.3 million in 2024 to $435 million in 2034. This represents a CAGR of 7.5%, reflecting rising demand across High-Intensity Discharge Lamps, Laser Crystal Component and Metal-Halide Lamps.

  • Stanford Materials Corporation, American Elements, Materion Corporation are among the leading players in this market, shaping its competitive landscape.

  • U.S. and China are the top markets within the Scandium Iodide market and are expected to observe the growth CAGR of 4.9% to 7.2% between 2024 and 2030.
  • Emerging markets including India, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 8.6% to 10.3%.

  • Transition like Shift Towards Eco-Friendly Lighting Solutions is expected to add $30.8 million to the Scandium Iodide market growth by 2030

  • The Scandium Iodide market is set to add $224 million between 2024 and 2034, with manufacturer targeting Electronics & Lighting End-use Industries projected to gain a larger market share.
  • With Surging demand in lighting industry, and Innovations in aerospace and defense, Scandium Iodide market to expand 106% between 2024 and 2034.
scandium iodide market size with pie charts of major and emerging country share, CAGR, trends for 2025 and 2032

Opportunities in the Scandium Iodide

Scandium iodides potential in medical imaging technologies remains largely unexplored despite the advancements in technology that drive the need for enhanced precision in diagnostic equipment such, as CT scans and X ray machines.

Growth Opportunities in North America and Europe

North America Outlook

In North America Scandium Iodide holds a market share thanks to its widespread use in the aerospace and defense sectors The competitive landscape in this region is enhanced by the presence of numerous international companies contributing to market expansion Countries like the United States and Canada play a key role in driving demand due to their technological progress and substantial investments, in research and development endeavors

Europe Outlook

In Europe's market for Scandium Iodide holds a lot of promise due to its use in the electronics industry for making TV and projector bulbs which is boosting the market outlook there. Moreover the increasing demand for eco energy efficient products is creating new prospects in that region. The competition, among leading companies is fierce as they strive to outdo each other.

Market Dynamics and Supply Chain

01

Driver: Surging Demand in Lighting Industry

The main factor boosting the Scandium Iodide market is also the increasing need in the lighting sector due to its use in manufacturing high intensity discharge lamps which are also widely favored for their brightness and energy efficiency, in both outdoor spaces of significant size. The increasing adoption of energy lighting worldwide is also driving up the need, for Scandium Iodide as well.
Scandium iodide is also well known for its ability to withstand temperatures and its lightweight characteristics that make it a desirable option in the aerospace and defense sectors. It is also commonly utilized as an alloy component in the production of aircraft parts. As the aviation field strives to create aircraft that are also both lighter and more robust the need, for scandium iodide is also expected to increase steadily over time.
02

Restraint: High Production Costs

Scandium Iodide is a compound that needs advanced manufacturing methods to create it efficiently. The process of making it involves extracting and purifying the substance and then refining it into particles – a complex and energy consuming procedure that leads to expensive production. These increased expenses are usually passed onto the customer which could impede market expansion as buyers are sensitive, to pricing.
03

Opportunity: Broadening Aerospace Applications and Lighting Industry Adaptation

The application of scandium iodide in the aerospace industry has mainly focused on enhancing aluminum scandium alloys far; however recent technological progress indicates promising opportunities for its utilization, in various other aerospace uses like advanced sensors and navigation systems which heavily depend on the distinctive optical qualities of scandium iodide; further investigations are expected to expand its market reach.
The utilization of scandium iodides in the lighting sector has been limited mostly to mercury vapor lamps far; nevertheless its characteristics. Like its high efficiency in producing luminescence and capacity to emit light that closely mimics natural daylight. Render it suitable for various other lighting uses such, as LEDs and other energy saving lighting setups.
04

Challenge: Limited Awareness and Application Scope

Despite its usefulness in sectors such as the lighting industry Scandium Iodide remains unfamiliar in various other industries This lack of knowledge along with limited applications hinders the overall demand, for Scandium Iodide Until there is a range of uses and increased awareness the market growth may be restricted.

Supply Chain Landscape

1
Raw Material Extraction

Alfa Aesar

Treibacher

2
Production

Stanford Materials Corporation

American Elements

3
Distribution

Sigma Aldrich

ChemPur

4
End Industry

Semiconductor industry

Lighting industry

*The illustration highlights the key stakeholders within the supply chain ecosystem.

Applications of Scandium Iodide in High-Intensity Discharge Lamps, Laser Crystal Component & Metal-Halide Lamps

High-Intensity Discharge Lamps

Scandium iodide plays a role in high intensity discharge lamps helping to increase brightness and improve color rendering for better visual clarity and depth perception. Philips Lighting is a player, in this sector and utilizes the benefits of Scandium Iodide to deliver top notch lighting solutions that meet customers high standards.

Metal-Halide Lamps

The compound is also important in metal halide lamps as it helps to enhance the quality by filling in gaps in the spectral output of the lamps. This is particularly useful for industries like horticulture, cinemas and sports stadiums that require lighting. GE Lighting is a player, in this field and they create lamps that benefit from the consistent spectral properties of Scandium Iodide.

Laser Crystal Component

Scandium iodide plays a role in the scientific field as an additive in yttrium aluminum garnet lasers used widely in research facilities and industrial applications such as metalworking. Its incorporation in these lasers results, in enhanced energy efficiency and beam stability. This advancement has been attributed to Coherent Inc.

Recent Developments

December 2024

Global Chemical Corporation ramped up its production of Scandium Iodide boosting output capacity by a 30%.

October 2024

TechMetals Ltd introduced a range of Scandium Iodide products specifically designed for use, in microelectronics applications.

August 2024

Rare Earth Minerals Inc. has teamedup with BeamLight Technologies to work on research and development for utilizing Scandium Iodide, in energy applications.

Lately there has been an increasing interest in Scandium Iodide due to its rising popularity in industries such as lighting and electronics for its ability to provide illumination, in mercury lamps and other high end engineering applications.

Impact of Industry Transitions on the Scandium Iodide Market

As a core segment of the Specialty Chemicals industry, the Scandium Iodide market develops in line with broader industry shifts. Over recent years, transitions such as Shift Towards Eco-Friendly Lighting Solutions and Increased Demand from the Aerospace Industry have redefined priorities across the Specialty Chemicals sector, influencing how the Scandium Iodide market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.
01

Shift Towards Eco-Friendly Lighting Solutions

The lighting sector aims to swap out mercury vapour lamps for environmentally friendly options which could lead to a major shift in the Scandium Iodide market landscape as it is a key component in mercury vapour lamps for generating intense discharge lighting sources. As the call for eco choices grows stronger in the industry there could be a drop in the demand for scandium iodide reflecting this transition pushing manufacturers to investigate alternative uses, for this material. This industry transition is expected to add $30.8 million in the industry revenue between 2024 and 2030.
02

Increased Demand from the Aerospace Industry

The aerospace sector is currently quite captivating due to its characteristics and applications in various fields of industry such as Scandium iodides significance in this realm cannot be overlooked due, to its lightweight nature and high melting point.

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