Europe Aluminum Oxide Market Set to Soar with 5.2% CAGR, Expected to Cross US$ 4.44 Billion Mark by 2033

According to Future Market Insights (FMI), sales of the Europe Aluminum Oxide Market are likely to reach a valuation of US$ 2,686.1 million in 2023. Between the forecast period 2023 to 2033, aluminum oxide sales in Europe are set to rise at 5.2% CAGR. Total market valuation in Europe will reach around US$ 4,443.8 million by 2033.

Rising demand for aluminum oxide from the ceramic industry is a key factor driving Europe market. Ceramics are widely used in numerous industries such as construction, electronics, automotive, and medical devices.

For instance, ceramic tiles and sanitary ware are extensively used in the construction industry. Similarly, ceramic capacitors and substrates are used in the electronics industry.

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Aluminum oxide is a key component in the production of advanced or engineered ceramics. This includes alumina ceramics, zirconia ceramics, and silicon carbide ceramics.

These products have superior properties such as high strength, hardness, and resistance to wear and corrosion. They find applications in critical sectors such as aerospace, defense, and biomedical.

Growing demand for high-performance ceramics from various industries will continue to boost Europe aluminum oxide sales through 2033.

The increasing adoption of advanced ceramics in high-tech applications such as semiconductors, LEDs, and electronic devices will elevate demand for aluminum oxide. Hence, the ceramics sector will continue to play a significant role in propelling demand for aluminum oxide across Europe.

Further, the growing usage of aluminum oxide in aluminum production will create opportunities for Europe-based aluminum oxide manufacturers.

Key Takeaways from Europe Aluminum Oxide Market:

Europe aluminum oxide market is set to cross a valuation of US$ 4,443.8 million by 2033.
Sales of aluminum oxide across Europe will rise at around 2% CAGR over the forecast period.
By application, aluminum production segment will hold a prominent share of Europe market by 2033.
Based on end use, electronics segment will thrive at 2% CAGR between 2023 and 2033.
Germany market is set to create an incremental $ opportunity of US$ 412.4 million through 2033.
Demand for aluminum oxide in France will progress at 8% CAGR over the next ten years.

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"Growing demand from the ceramics industry is creating significant opportunities for the Europe aluminum oxide market. With increasing demand for ceramics from various industries, aluminum oxide sales will rise at a steady pace across Europe. Manufacturers will find significant growth opportunity in tending to critical sectors like aerospace, defense, and biomedical." - says an FMI analyst.

Competitive Analysis:

BASF SE, Alcoa Corporation, Cabot Corporation, Norsk Hydroa, Evonik Industries AG, Merck KGaA, Sasol Ltd., J.M. Huber Corporation, Honeywell International Inc., W.R. Grace & Co., and others are the key manufacturers of aluminum oxide profiled in the full version of the report.

Key market participants are expanding their production capacities to meet end user demand across Europe. They are also focusing on strengthening their presence across various emerging markets.

For instance,

In September 2020, BASF SE made an announcement, regarding the launch of their latest palladium alumina catalyst series in the market.
This new series of catalysts are supported by alumina and has been designed to offer improved activity and increased tolerance to toxins such as sulfur. This is achieved through the use of greater Pd dispersion in the catalysts, resulting in a higher level of efficiency.

In February 2022, Norsk Hydro ASA signed an agreement with Agder Energi AS and Lyse Energi AS to build a hydrogen plant in Norway to produce low-carbon aluminum.
This agreement to build a hydrogen plant is a significant step forward in the company's efforts to produce low-carbon aluminum. By using renewable energy sources to produce hydrogen, the company is demonstrating its commitment to sustainability and reducing its carbon footprint.

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Europe Aluminum Oxide Market Segmentation

By Product Type:

Nanoparticles
Powder
Pellets
Tablets
Sputtering Targets

By Application:

Aluminum Production
Non-Aluminum Production
Abrasives
Engineered Ceramics
Corundum

By End Use:

Medical
Automotive
Aerospace
Metallurgy
Electronics

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments over the next 10-years.

This release was published on openPR.