Rising environmental concerns have encouraged the adoption of non-halogenated flame retardants like alumina trihydrate across the globe. Future Market Insights (FMI) estimates that the alumina trihydrate market will experience a year-on-year growth rate of 4.5% in 2021. As per Future Market Insights (FMI) analysis, the alumina trihydrate market will generate revenue, totaling US$ 4 Bn in 2021. The market is forecast to exhibit compound annual growth rate (CAGR) of 7.7% during the forecast period, reaching a volume of around 11,098.9 KT by 2031 end. The major drivers for the market include the rising consumer demand for alumina trihydrate in different applications and end-use industries, such as flame retardants, and paints & coatings. However, the substitutes present in the market, for instance, magnesium hydroxide, can restrain the market growth.
Plastics and chemicals will remain the key end users of alumina trihydrate, which currently account for more than 60% shares in the market. Consumption of alumina trihydrate in production of alum will particularly remain the prominent point of revenue generation over the forthcoming years. Widening applicability across a multitude of industrial verticals will enable this high-volume market to demonstrate an impressive growth curve through the next decade.
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According to report findings, end use of alumina trihydrate in plastics is anticipated to contribute for significant value shares, which has primarily resulted from the increasing applications of alumina trihydrate in engineering plastics. Chemicals, on the other side, are expected to maintain the lead in terms of end use, which is driven by the production of aluminum sulphate (alum) and aluminum chloride. Alum and aluminum chloride find major application as a coagulant in the water treatment sector.
APEJ Market’s Attractiveness Rising
Regions such as North America and APEJ are anticipated to hold significant market shares in terms of value. However, the APEJ market is anticipated to project lucrative growth in the global alumina trihydrate market during the forecast period of 2021-2031. This growth is driven by the rising usage of alumina trihydrate in end-use industries such as plastics, chemicals, papers, paints and coatings of APEJ that include India and China countries, among others. Countries such as China and India have shown positive economic growth.
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Furthermore, owing to the effects of macroeconomic factors such as growing population, urbanization, and rapid industrialization, the confidence of investors for investments in housing and other residential projects have increased drastically in South Asia. As a consequence, the building and construction industry of South Asia has gained a significantly positive momentum during the past years, which has increased the consumption of pigments and coatings, and is anticipated to result in the lucrative growth of alumina trihydrate consumption in the South Asia region.
Alumina Trihydrate Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as key participants in the global alumina trihydrate market.
Some of the examples of key players in the global alumina trihydrate market are
- Sumitomo Chemical Co. Ltd.,
- Aluminum Corp. of China Ltd.,
- Nabaltec AG,
- National Aluminium Company Ltd.,
- Huber Engineered Materials,
- Almatis GmbH, and
- Albemarle Corporation, among others.
The global alumina trihydrate market is significantly consolidated with some players holding prominent shares of the market.
These participants are offering alumina trihydrate under their popular brands such as
- Micral,
- Hymod,
- MoldX,
- Hydral,
- SpaceRite,
- Vertex, and
- Zerogen among others.
This FMI study offers market growth forecast for the 10-year assessment period, 2021-2031, and projects a strong 7.7% CAGR for market revenues through 2031.
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Frequently Asked Questions (FAQ):
- What are alumina trihydrate?
Alumina trihydrate or aluminum trihydroxide is a white-colored powdered substance, which is odorless and non-toxic. Alumina trihydrate is mainly used for in fireproof plastics, chemicals, and antacids. It is also widely used as a flame retardant and a smoke suppressant. Alumina trihydrate has very low-water solubility, but it is considered amphoteric, which means it dissolves in both strong alkali and acids. It is usually derived from bauxite ore in different sizes and refined through the Bayer process. The alumina trihydrate market is segmented into type, application, and end-use industry. Alumina trihydrate is used in plastics, building & construction, pharmaceuticals, paints & coatings, glass, rubber, and other end-use industries.
- What are the major driving factors for alumina trihydrate?
The major drivers for the market include the rising consumer demand for alumina trihydrate in different applications and end-use industries, such as flame retardants, and paints & coatings.
- What is the major end-use industry of alumina trihydrate?
Based on end-use industry, the alumina trihydrate market has been segmented into plastics, building & construction, paints & coatings, pharmaceutical, glass, rubber, and others. Out of these categories, alumina trihydrate is most widely used in plastic end-use industry followed by building & construction.
- What is a major application of alumina trihydrate?
Based on application, the alumina trihydrate market has been segmented into flame retardant, filler, antacid, and others. Halogen-free flame retardants are used in various industries, such as electrical & electronics, building & construction, and transportation. They are used in electric wire insulation materials, building materials, automotive parts, textiles, and home furnishings. Halogen-free flame retardants are used in circuit boards, electronic casing, and cables & wires.
- Who are the leading alumina trihydrate provider in the world?
Major companies such as Sumitomo Chemical Company, Limited (Japan), Hindalco Industries Limited (India), Aluminum Corporation of China Limited (China), Nabaltec AG (Germany), and Huber Engineered Materials (US), and among others. These players have been focusing on developmental strategies, investments & expansions, including capacity addition in existing production facilities, product launches, and mergers & acquisitions which have helped them expand their businesses in untapped and potential markets. .