Press release
Global Alumina Trihydrate Market 2024-2033: Trends, Analysis & Growth Forecast
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.
Market Overview -
Alumina trihydrate refers to a solid, odorless, powdery, and white substance used as a flame retardant and filler in glass, ceramics, inks, detergents, cosmetics, and plastics. This is extracted from bauxite ore using the Bayer process, with an average particle diameter of 80-100 microns. Its primary application is in the production of aluminum metal.
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Rising Demand For Flame Retardants From Construction Industry Propels Growth Of Alumina Trihydrate Market
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.
Competitive Landscape -
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
Alcoa Corporation's Pioneering Refinery Design Redefining Efficiency And Sustainability
Technological advancements are the key trend gaining popularity in the alumina trihydrate market. 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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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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