Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Aluminum Hydroxide Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global aluminum hydroxide market is poised for substantial growth with a projected Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period. The demand for aluminum hydroxide in the pharmaceutical industry, driven by the increasing incidence of gastrointestinal disorders, is a key growth factor.
Gastrointestinal disorders have become a significant health concern globally, resulting in a surge in fatalities due to digestive diseases. According to the World Health Organization (WHO), in 2020, digestive diseases were responsible for 1,23,648 mortalities in the United States alone, while the United Kingdom reported 31,588 such fatalities. The mortality rate due to peptic ulcer disease in the US also increased from 3,780 in 2019 to 3,787 in 2020.
Aluminum hydroxide plays a crucial role in alleviating symptoms of gastrointestinal disorders, such as peptic ulcers, gastritis, esophagitis, hiatal hernia, and gastric hyperacidity. Market players are offering various aluminum hydroxide-based treatments for peptic ulcers, including Antacid (aluminum-magnesium), Antacid M, Antacid Suspension, Gen-Alox, Maldroxal, Mylanta Ultimate, Ri-Mox, Rulox, and others.
Segmental Outlook
The global aluminum hydroxide market is segmented based on type and end-user industry. Industrial grade aluminum hydroxide is expected to dominate the market due to its widespread use as a buffering agent in various industrial processes, including agriculture, food processing, medicine, and photography.
Among end-user industries, the pharmaceutical sub-segment is set to hold a prominent share in the market. Factors driving growth in this segment include an aging population, increased awareness of digestive health, and a rising incidence of gastrointestinal disorders like acid reflux, gastroesophageal reflux disease (GERD), and peptic ulcers. Aluminum hydroxide's insolubility in water and organic solvents makes it a useful antacid for neutralizing hydrochloric acid in gastric secretions.
Regional Outlook
North America is expected to lead in market share, primarily driven by the extensive use of aluminum hydroxide as a fire retardant in polymer applications and increased safety standards in building construction.
The Asia-Pacific region is anticipated to witness significant growth due to the adoption of aluminum hydroxide as a flame retardant in various industries, including construction, automotive, and electronics. Partnerships, collaborations, and acquisitions by market players further contribute to the region's growth.
Market Players Outlook
Key companies in the global aluminum hydroxide market include TOR Minerals International Inc., Aluminum Corp. of China Ltd. (Chalco), Almatis B.V., Alteo Holding, Nabaltec AG, Huber Corp., LKAB Minerals AB, and others. These companies employ various strategies such as mergers, acquisitions, partnerships, collaborations, funding, and new product launches to remain competitive.
The Report Covers:
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global aluminum hydroxide market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying 'who-stands-where' in the market.
For more information about this report visit https://www.researchandmarkets.com/r/hc0qqi
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