Scandium demand forecast climbs from 30t in 2024 to up to 600t by 2035
Australian companies are racing to secure supply chains as scandium usage expands beyond aluminium alloys into defence and energy applications, with projected volumes rising dramatically over the next decade.
Interest in scandium is increasing due to its application in solid oxide fuel cells, defence systems, telecommunications infrastructure, and data centres. NSW Resources estimates current annual demand sits between 30 and 40 tonnes in 2024. Sunrise Energy Metals (ASX:SRL) projects this figure will jump to approximately 300 tonnes by 2030. The firm adds that production could reach as much as 600 tonnes by 2035. Western governments are acting to secure supply chains, particularly because China currently dominates the critical mineral market. Companies are either acquiring existing projects or expediting resource definitions for both primary scandium deposits and polymetallic sites where scandium appears as a byproduct. Sunrise Energy Metals is advancing its Syerston project in New South Wales. This site has defined significant resources and secured a conditional loan commitment worth US$400 million from the US Department of Defence's Office of Strategic Capital. RareX (ASX:REE) managing director James Durrant noted that dedicated scandium projects have received considerable attention, though he acknowledged specific figures for their own output were not detailed in the available report.
