Press release
Alumina Trihydrate Market in 2024: Size, Industry Analysis, Segmentation, and Outlook to 2033
Alumina Trihydrate Market
The Business Research Company presents an extensive market research report on the Alumina Trihydrate Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The alumina trihydrate market size has grown strongly in recent years. It will grow from $2.07 billion in 2023 to $2.2 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to flame retardant properties, demand in chemical industry , shift from halogenated flame retardants, expansion in construction sector, demand in pharmaceuticals..
The alumina trihydrate market size is expected to see strong growth in the next few years. It will grow to $2.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to healthcare and cosmetic applications, global economic development, packaging material demand, textile industry expansion, pharmaceutical industry growth.. Major trends in the forecast period include global market expansion , automotive safety, innovations in packaging , water treatment solutions..
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Key Market Players:
Major companies operating in the alumina trihydrate market report are Albemarle Corporation, Alcoa Corporation, Aluminum Corporation of China Limited, J.M. Huber Corporation, LKAB Minerals AB, MAL-Hungarian Aluminum Producer and Trading Co., Nabaltec AG, National Aluminium Company Limited, SHOWA DENKO K.K., Sumitomo Chemical Co. Ltd., Jinan Chenxu Chemical Co. Ltd., KC Corporation, Hayashi Kasei Co. Ltd., Dadco Group, Alumina Chemicals & Castables, Hindalco Industries Ltd., Southern Ionics Incorporated, Thermo Fisher Scientific Inc., SCR Sibelco NV, R.J. Marshall Company, Alteo, Solvay S.A., Chemtura Corporation, Clariant AG, Imerys SA, Evonik Industries AG, Wacker Chemie AG, BASF SE, Dow Inc., Eastman Chemical Company
Market Drivers:
The rising demand for flame retardants from the construction industry is expected to propel the growth of the alumina trihydrate market. 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. For instance, in its 2021 annual report, Nabaltec, a US-based chemical company, stated that the revenue in the 'Specialty Alumina' product segment increased by 24.2%, from USD 46.4 million to USD 57.6 million in 2021. Therefore, the increasing demand for non-halogenated flame retardants is driving the growth of the alumina trihydrate market.
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https://www.thebusinessresearchcompany.com/report/alumina-trihydrate-global-market-report
The alumina trihydrate market covered in this report is segmented -
1) By Type: Ground, Wet, Dry, Precipitate
2) By Application: Flame Retardant, Filler, Antacid
3) By End-Use Industry: Plastic, Building and Construction, Paints and Coatings, Pharmaceuticals
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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