NEWARK, Del, March 14, 2023 (GLOBE NEWSWIRE) -- The global alumina trihydrate market is projected to accelerate at a phenomenal CAGR of 7.7% throughout the forecast period from 2023 to 2033. The global market is likely to reach a valuation of US$ 5,324.6 million in 2023 and surpass a valuation of US$ 11,180.1 million in 2033. The market touched a valuation of US$ 4,936.1 million in 2022.
According to Future Market Insights' historical analysis, the global alumina trihydrate market registered a CAGR of 7.4% between 2018 and 2022.
The growth of the global alumina trihydrate market is attributed to its diverse application in numerous industries such as plastics, papers, paints & coatings, and others is the key factor propelling the growth.
All these industries rely heavily on alumina trihydrate, and their anticipated expansion should fuel aluminum hydroxide sales. It has been estimated that more than 90% of alumina trihydrate production goes into manufacturing aluminum. When alumina trihydrate is used for flame retardant applications, it suppresses and reduces fire spread via plastic.
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Alumina trihydrate or aluminum hydroxide is known for its power source from bauxite. It is translucent and white in color. Through exposure to heat, alumina trihydrate converts to aluminum oxide and releases water. The powder is most commonly used for preparing transparent lake pigments.
Report Highlights
Alumina trihydrate comprises antacid properties and can facilitate the maintenance of optimum pH in the gastrointestinal tract. Its antacid properties are likely to make aluminum hydroxide demand soar from the worldwide pharmaceuticals industry. Furthermore, its excellent filler qualities make it suitable for use in plastics, cosmetics, detergents, inks, ceramics, and glass. It is also an excellent water-repellent, flame-retardant, and paper coating.
Over recent years, strict fire safety regulations have come into force all over the world. This has resulted in augmenting demand for high-quality flame retardants that have been on a consistent rise. Future Market Insights (FMI) expects this trend to continue between 2023 and 2033.
Throughout the assessment period, non-halogenated flame retardant demand elevated all over the globe, owing to various fire-related accidents. The use of alumina trihydrate also gained traction for engineering papers, plastics, rubbers, paints, and coatings. Automobiles with low weights tend to be more fuel efficient as it takes less power to move them compared to heavy all-metal vehicles.
Charts and data tables about market and segment sizes for a historic period of five (2018-2022) years have been covered in this report Browse Full Market Report@ https://www.futuremarketinsights.com/reports/alumina-trihydrate-market
Recent Developments
Approximately 10 to 15% of any modern-day vehicle’s weight includes plastic composites. Owing to these factors, automobile manufacturers are increasingly preferring these composites over metals. The use of metals can add to the strength and durability of automobiles.
Other kinds of metals also tend to make vehicles heavy, which is likely to impact their fuel economies adversely. Plastic composites engineered using alumina trihydrate can reduce a vehicle’s weight significantly. Among several car owners all over the globe, fuel economy has become a prominent talking point.
Fuel prices have been steadily rising in recent years, and vehicle owners are on the lookout for products that offer fuel economy benefits. Moreover, FMI anticipates this trend to persist over the next decade and drive alumina trihydrate demand. Using alumina trihydrate in automobile manufacturing as an alternative to titanium dioxide can also lower production costs by around 25%.
Key Companies Profiled
- Sumitomo Chemical Co. Ltd.
- Aluminum Corp. of China Ltd.
- Nabaltec AG
- National Aluminium Company Ltd.
- Huber Engineered Materials
- SCR Sibelco NV
- R.J. Marshall Company
- Alteo
- Southern Ionics Incorporated
- ALUMINA CHEMICALS and CASTABLES
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Competitive Landscape
Attributing to the widespread expansion of the alumina trihydrate market, the competition is predicted to grow fiercer due to the presence of dominant regional and international players in the market. The market still has a fair way to go before it reaches a saturation point. FMI anticipates both leading and emerging players to expand production facilities based on trends from the recent past.
There are massive investments in research and development activities as manufacturers are keen on reducing costs and improving quality. Acquisitions and mergers look probable too.
In January 2023, ChemIndia, a company based in India, announced the launch of extender pigment products which include alumina hydrate. In August 2022, Cimbar Resources Inc. acquired the manufacturing assets of Imerys Carbonates USA Inc. related to calcium carbonate manufacturing.
Global Alumina Trihydrate Industry by Category
By End Use:
- Plastics
- Paper
- Paints and Coatings
- Adhesives
- Chemicals
- Pharmaceuticals
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
- Asia Pacific excluding Japan
- Japan
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More Insights into the Alumina Trihydrate Market
China is anticipated to dominate the global alumina trihydrate market over the evaluation period as it accounts for 60% of the entire coatings volume of the Asia Pacific region. The presence of key manufacturers, abundant availability of raw materials, and a strong industry base are a few of the key factors responsible for the acceleration of the industry in China.
Table of Content
1. Executive Summary | Alumina Trihydrate Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
3.1. Global Market Analysis and Forecast Value (US$ million)
3.2. Pricing Analysis
3.3. Historical Market Volume (Kilo Tons) Analysis, 2018 to 2022
3.4. Current and Future Market Volume (Kilo Tons) Projections, 2023 to 2033
3.5. Y-o-Y Growth Trend Analysis
4. Market Viewpoint
4.1. Macro-Economic Factors
4.1.1. Global GDP Growth Outlook
4.1.2. Global Per Capita Income Outlook
4.1.3. Global Paints and Coatings Market Overview
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Explore FMI’s Extensive Ongoing Coverage in the Chemicals & Materials Domain
Activated Alumina Market Trends: The global activated alumina market is projected to reach a valuation of US$ 906.4 million in 2022. Sales of activated alumina are expected to increase at a 4.9% CAGR and are likely to be valued at US$ 1,465.0 million by 2032.
Flame Retardant Chemicals Market Size: The global flame retardant chemicals market size is anticipated to be worth US$ 8,560 Mn in 2022. During the projection period of 2022 to 2032, the market is predicted to grow at a CAGR of 7.1%, with a valuation of US$ 16,990 Mn by 2032.
Coating Additives Market Demand: The global coating additives market was valued at around US$ 10,613.3 Mn in 2021 and is anticipated to reach US$ 17,724.8 Mn by 2032. Sales in the global coating devices market are witnessing a surge at a CAGR of 4.8% between 2022 and 2032.
Automotive Refinish Coatings Market Value: The automotive refinish coatings market size is projected to be valued at US$ 7.7 billion in 2023 and is expected to rise to US$ 12.9 billion by 2033. The sales are expected to grow at a significant CAGR of 5.1% during the forecast period.
United States and Canada Alumina Market Share: The United States and Canada alumina market is projected to be valued at US$ 3,324.8 million in 2022. Sales of the chemical compound are expected to showcase a considerable growth outlook at a CAGR of 4.6% between 2022 and 2032.
About Future Market Insights, Inc.
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