Press release
Alumina Trihydrate Market Poised for Robust CAGR of over 5.7% through 2026
Drivers & Trends
Key factors fuelling the growth of the global alumina trihydrate market include increasing use of alumina trihydrate as a substitute for titanium dioxide pigments in paper and paints and coatings industry, increasing demand for flame retardant plastics in automotive industry as well as increasing growth in the use of alumina trihydrate in water treatment. However, low suitability of alumina trihydrate for high-temperature applications, lack of awareness about the benefits of alumina trihydrate in water treatment and increasing preference of alumina trihydrate alternatives such as magnesium hydroxide could pose challenges to the growth of the overall global alumina trihydrate market. Major trends included in the global alumina trihydrate market report include use of ultra-fine alumina trihydrate-in pharmaceuticals industry as well as use of alumina trihydrate in phosphate binders.
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Market Segmentation
The global alumina trihydrate market is expected to be valued at US$ 5,430 Mn by 2026 and is projected to register a CAGR of 5.7% over the forecast period. The global alumina trihydrate market is segmented on the basis of end-use industry and region. On the basis of end-use industry, the market is segmented into plastics industry, paper industry, paints and coatings industry, adhesives industry, chemicals industry, pharmaceuticals industry and others. On the basis of region, the market is segmented into North America, Western Europe, Asia Pacific excluding Japan, Eastern Europe, Latin America, the Middle East & Africa and Japan.
Global Alumina trihydrate Market Analysis, by End-use Industry
In terms of value, the global alumina trihydrate market is anticipated to register a CAGR of 5.7% over the forecast period. Demand for alumina trihydrate-based flame retardants is projected to increase over the forecast period due to stringency of government regulations on the use of alumina trihydrate based flame retardants in various industries. In terms of value the chemicals industry segment in the global alumina trihydrate market is expected to expand at a significant CAGR of 6.9%, followed by plastics industry segment, which is projected to register a CAGR of 6.2% over the forecast period.
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Global Alumina trihydrate Market Analysis, by Region
On the basis of region, APEJ region is projected to remain dominant over the forecast period. The region accounted for the largest market share for alumina trihydrate in 2014, accounting for 27.1% of the global alumina trihydrate market. Among countries, China is projected to play an important role in the global alumina trihydrate market in APEJ due to several factors such as concentration of chemicals industry in the country. The Western Europe alumina trihydrate market is also expected to witness robust growth over the forecast period due to increasing use of flame retardant plastics and adhesives in the region.
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