New York, United States , July 25, 2023 (GLOBE NEWSWIRE) -- The Global Alumina Trihydrate Market Size is To Grow from USD 4.82 Billion in 2022 to USD 9.10 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.56% during the projected period. The rising adoption of alumina trihydrate in various applications such as flame retardants, fillers, antacids, and others in several industries including plastics, paper, glass & rubber, paints & coatings, adhesives, chemicals, pharmaceuticals, building & construction, and others are expected to boost the demand for the alumina trihydrate market during the forecast period.
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Alumina Trihydrate (ATH) is a non-toxic, non-corrosive substance used in elastomeric applications that is a flame retardant and smoke suppressant. It is one of the most widely used flame retardants in the world today. Alumina trihydrate is a highly effective flame retardant due to its thermodynamic properties, which absorb heat and release water vapor. The most prevalent application of alumina trihydrate is in the production of aluminum metal. It is used in polymers such as rubber and carpet backing as a flame retardant and smoke suppression filler. Consumer demand for alumina trihydrate in various applications and end-use industries, such as flame retardants and paints and coatings, is one of the key drivers driving the worldwide alumina trihydrate market's rise. Furthermore, the shift toward more ecologically friendly alternatives will increase the need for non-halogenated flame retardants, propelling the alumina trihydrate market during the forecast period. The alumina trihydrate market is being propelled forward by rising demand from the paints and coatings industry, as well as other significant end-use industries such as plastics and chemicals. Furthermore, aluminum hydroxide (alum) is a common coagulant used in wastewater and water treatment processes.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the, "Global Alumina Trihydrate Market Size, Share, and COVID-19 Impact Analysis, By Type (Wet, Dry, Ground, Precipitate), By Application (Flame Retardant, Filler, Antacid, Others), By End-Use (Plastics, Paper, Glass & Rubber, Paints & Coatings, Adhesives, Chemicals, Pharmaceuticals, Building & Construction, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The precipitate segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global alumina trihydrate market is segmented into the wet, dry, ground, and precipitate. Among these, the precipitate segment is dominating the market with the largest revenue share of 38.6% over the forecast period. Precipitate alumina trihydrate has various advantages, including better flame-retardant characteristics and lower fluidity in polyester fibers and sheet molding compound (SMC). It requires less catalyst for surface absorption and cures faster than ground alumina trihydrate because it contains less surface water.
The flame-retardant segment is witnessing significant CAGR growth over the forecast period.
On the basis of application, the global alumina trihydrate market is segmented into flame retardants, fillers, antacids, and others. Among these, the flame-retardant segment is witnessing significant CAGR growth over the forecast period. Flame retardants are in high demand in the alumina trihydrate market, particularly in the automotive, electrical, and electronics industries. The alumina trihydrate market is being propelled forward by stringent fire safety regulations designed to reduce the danger of fire spread in residential and commercial structures.
The plastic segment accounted for the largest revenue share of more than 37.2% over the forecast period.
On the basis of end-use, the global alumina trihydrate market is segmented into plastics, paper, glass & rubber, paints & coatings, adhesives, chemicals, pharmaceuticals, building & construction, and others. Among these, the plastic segment is dominating the market with the largest revenue share of 37.2% over the forecast period. Because plastic objects can catch fire quickly, they must be coated with flame retardant chemical ingredients. The alumina trihydrate market is likely to be driven by plastic use in the construction, automotive, and electrical & electronics industries.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This growth can be attributed to the growing plastics, building and construction, and paints and coatings industries in newly industrialized countries such as China and India. The presence of an increasing number of plastic product manufacturing facilities in China, as well as expanding industrialization in Asia Pacific, are expected to drive the alumina trihydrate market over the forecast time frame.
North America is expected to grow the fastest during the forecast period
North America, on the contrary, is expected to grow the fastest over the projection period, due to increased demand for flame retardant chemicals in both the construction and automotive industries. The United States has the largest market share in this region, followed by Canada and Mexico.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Alumina Trihydrate Market include Hindalco Industries Ltd., Sumitomo Chemical Company, Ltd., Aluminum Corporation of China Ltd., Huber Engineered Materials, Nabaltec AG, SCR Sibelco NV, R.J. Marshall Company, Alteo, Showa Denko K.K., Southern Ionics Incorporated, ALUMINA CHEMICALS and CASTABLES, Alfa Aesar, NALCO, MAL Zrt., Alcoa Inc., and among others.
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