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Global Alumina Trihydrate Market 2023 Revenue Trends Analysis, Regional Outlook, Competitive Landscape And Forecast To 2032 | Albemarle Corporation, Alcoa Corporation, Aluminum Corporation of China Limited, Huber Engineered Materials, LKAB Minerals AB
Alumina Trihydrate Market
The Business Research Company's Template Global Market Report 2023 identifies rising demand for flame retardants from the construction industry as the major driver for the Alumina Trihydrate Market's growth in the forecast period. The increasing number of commercial and residential establishments has increased the possibilities of explosions and fire-related accidents. Non-halogenated flame retardants form a protective char in the condensed phase or release free radicals in the event of ignition to slow fire spread. Several countries have made strict fire safety regulations and protocols mandatory. As a result, to meet government regulations, nonflammable retardants are increasingly being used in buildings, thus increasing the demand for alumina trihydrate.
The global alumina trihydrate market size is expected to grow from $1.92 billion in 2022 to $2.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The alumina trihydrate market is expected to grow to $2.56 billion in 2027 at a CAGR of 5.8%.
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Major competitors in the alumina trihydrate market are Albemarle Corporation, Alcoa Corporation, Aluminum Corporation of China Limited, Huber Engineered Materials, LKAB Minerals AB, MAL-Hungarian Aluminum Producer and Trading Co., Nabaltec AG, NALCO, Showa Denko K.K., Sumitomo Chemical Co. Ltd., Jinan Chenxu Chemical Co. Ltd., KC Corporation, Hayashi Kasei Co. Ltd., Dadco Group, and Alumina chemicals & castables.
A key trend in the Alumina Trihydrate Market includes technological advancement. Major companies operating in the market are introducing new technologies to improve the quality of non-halogenated flame retardant by making it more efficient. Such advancements enable key players to gain a competitive edge in the market. For instance, in November 2021, Alcoa Corporation, a US-based producer of aluminum, designed an alumina refinery. The company intended to unlock decarburization at scale by using new and innovative technologies to deliver a cost-competitive refinery that will help eliminate fossil fuels in operations, reduce freshwater use, and minimize and eventually eliminate new bauxite residue deposits.
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The Alumina Trihydrate Market is segmented -
By Type: Ground, Wet, Dry, Precipitate
By Application: Flame Retardant, Filler, Antacid
By End-Use Industry: Plastic, Building and Construction, Paints and Coatings, Pharmaceuticals
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Alumina Trihydrate Market.
The Business Research Company's "Global Alumina Trihydrate Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Alumina Trihydrate Market Include:
1. Executive Summary
2. Alumina Trihydrate Market Characteristics
3. Alumina Trihydrate Market Trends And Strategies
4. Alumina Trihydrate Market - Macro Economic Scenario
5. Alumina Trihydrate Market Size And Growth
……
26. Africa Alumina Trihydrate Market
27. Alumina Trihydrate Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Alumina Trihydrate Market
29. Alumina Trihydrate Market Future Outlook and Potential Analysis
30. Appendix
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