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Alumina Trihydrate Market will reach at a CAGR Value of 5.7% from 2016 to 2026
Posted: Feb 03, 2019
Future Market Insights’ latest report titled ‘Alumina Trihydrate Market: Global Industry Analysis and Opportunity Assessment 2016 – 2026’ discusses the long-term outlook for the global Alumina Trihydrate market. The Global Alumina Trihydrate market is expected to witness sound growth with market value expected to increase at a CAGR of 5.7% during the forecast period (2016 – 2026). The global alumina trihydrate market was valued at around US$ 3 Bn in 2016.
Alumina trihydrate (ATH), also known as aluminium hydroxide or aluminium hydrate, is a white crystalline powder derived from the bauxite ore using the Bayer's process and is used in manufacturing of glass, ceramics, paints & coatings and others. Alumina hydrate finds major application as a flame retardant and smoke suppressant in materials due to its ability of releasing water of crystallization as water vapour when heated above 220°C. Alumina trihydrate is used for metallurgical and non-metallurgical applications, of which only the non-metallurgical applications, such as its use in plastics, chemicals, pharmaceuticals and other industries, have been considered.
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On regional level analysis, it has been found that Asia Pacific excluding Japan will contribute a significant share to the overall consumption of Alumina Trihydrate across the globe and this consumption is further expected to grow at a significant CAGR, in terms of value, during the forecast period. The analysis of the Global Alumina Trihydrate Market also revealed the market size by Value (US$ Mn) and Volume (Tons) for individual regions as well as country-wise growth rates. After analysing end-use industries, FMI arrived at the conclusion that the plastics industry consumes the maximum quantity of Alumina Trihydrate. Within the plastic industry, Alumina Trihydrate is used in the synthesis of polyester and other polymer resins, which are substitute materials for latex, rubber, wires & cables and floorings.
Alumina Trihydrate Market: Factors Impacting Revenue Growth
The Global Alumina Trihydrate Market is primarily being driven by growing demand for plastics from the automotive and transportation industry. Within the automotive and transportation industry, Alumina Trihydrate is used as an additive in the manufacturing of composite materials. The chemicals industry is considered to be another prominent end-use sector for alumina trihydrate. Growing demand from other critical applications has also been supporting the growth of Alumina Trihydrate market. For instance, Alumina Trihydrate is preferred for the manufacturing of alum, which in turn, is used in water treatment. Alumina Trihydrate is preferred over titanium dioxide pigments due to its low cost and superior performance characteristics. Moreover, regional governments’ support for Alumina Trihydrate as it is a non-hazardous inorganic compound will also increase the consumption of Alumina Trihydrate by a healthy extent. In addition to the present demand scenario, upcoming growth opportunities from new end-use sectors, such as batteries, industrial chemicals, nanotechnology, engineered plastics, vaccine adjuvants and flame retardants, are further anticipated to augment the market size and growth of alumina trihydrate across the globe.
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Alumina Trihydrate Market: Key Participants
Some of the market participants identified across the value chain of the Alumina Trihydrate market are Alfa Aesar, Sumitomo Chemical Co. Ltd., Albemarle Corporation, Nabaltec AG, Huber Engineered Materials, Showa Denko K.K., Ecolab, Inc., MAL Zrt, Alcoa Inc. and Aluminum Corp. of China Ltd.
The Alumina Trihydrate market is a highly competitive market consisting of tier-1 global scale alumina trihydrate manufacturers and many small-scale alumina trihydrate manufacturers catering to domestic demand. Increasing production capacity for Alumina Trihydrate and creating a strong supply and distribution infrastructure has been the main strategies pursued by Alumina Trihydrate manufacturers. For e.g. to remain competitive, leading Alumina Trihydrate manufacturer, Sumitomo Chemical Co. Ltd., in 2013, set up a new manufacturing facility for high-purity alumina in Iksan, South Korea, with annual alumina trihydrate production capacity of 1,600 tonnes and improved its sales and distribution network across the globe.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. Fmi is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India