Scandium Canada Ltd. (SCD) has released an independent market study by EY-Parthenon, highlighting a projected long-term supply deficit for scandium oxide. The research forecasts global demand to climb to 194 tonnes per year by 2035 and reaching 706 tonnes by 2050. Currently, global production is limited to between 60 and 80 tonnes annually. Because scandium is produced exclusively as a byproduct of other metal mining, supply is tied to the economics of host metals rather than scandium-specific demand, creating a structural imbalance.

The study anticipates that the supply gap will begin to widen significantly after 2035. By 2050, EY-Parthenon projects global supply will reach only 266 tonnes, falling far short of the estimated 706 tonnes required. This growth is being driven primarily by the aerospace, defence, and automotive sectors, where the metal is increasingly utilized as an alloying element in aluminum to improve structural strength and reduce weight.

"Scandium is one of the few metals where projected demand grows this steeply while supply remains a byproduct of other metal production."

— Guy Bourassa, Chief Executive Officer (CEO)

The findings provide strategic context for the company’s dual-engine business model. Scandium Canada is currently advancing its Crater Lake project in Nunavik, Québec, with the intent of establishing the site as a primary, dedicated source of scandium. This development effort is complemented by its wholly owned subsidiary, Scalium+ Inc., which focuses on the commercialization of proprietary aluminum-scandium alloys. This downstream integration is designed to capture value within the supply chain by delivering finished alloy products directly to high-demand manufacturing industries.

The company’s commercial strategy relies on the proprietary Scalium line of alloys, which have demonstrated, in internal controlled testing, strength results up to 45% higher than typical 7075 aerospace aluminum. By pairing a primary mining source with specialized alloy production, the company aims to position itself across both sides of the scandium supply equation—providing both the raw oxide and the high-performance materials required for advanced aerospace and defence applications.

The market study was commissioned to help ground the assumptions for the upcoming Pre-Feasibility Study (PFS) for the Crater Lake project. The release of this PFS is a key upcoming catalyst for the company, expected in summer 2026. Management believes that the current byproduct-heavy nature of the global scandium market justifies the development of a dedicated primary source. As the company continues to refine its technical development plans and expand its downstream commercial partnerships, it maintains its focus on building a secure, North American-based scandium supply chain to meet the projected rise in global industrial requirements.

Read the full announcement: Scandium Canada: Updated EY-Parthenon Study Projects Global Scandium Demand to Triple By 2035