With the emergence and long-term Impact of COVID-19, the Global Alumina Trihydrate Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Alumina Trihydrate Market is poised to raise up to USD XX Billion by 2030. Alumina trihydrate (ATH) is a white, crystalline powder that is also known as aluminum trihydroxide or simply hydrate. It is derived from bauxite ore through the Bayer process, which involves the extraction of aluminum oxide from bauxite and subsequent precipitation of alumina trihydrate. ATH has several notable properties, including flame retardancy, low toxicity, and high thermal stability, making it useful in various applications. Some common applications of alumina trihydrate include flame retardant, filler in plastics and rubber, surface coatings, and others.
The key factors driving the market growth are increasing demand in flame retardant applications, growth in construction and building industry, expanding automotive sector, and growing demand for alumina trihydrate in the paints & coatings industry that anticipated to support the market growth during forecast period 2023-2030. Additionally, the growing demand for flame retardants has been a significant driver for the alumina trihydrate market. Flame retardants are substances added to materials to inhibit or resist the spread of fire. Alumina trihydrate (ATH) is widely used as a flame retardant in various industries, and the increasing demand for flame-retardant materials is supporting the growth of the alumina trihydrate market.
According to Statista, in 2021, the market size of flame retardants worldwide was USD 8,204.43 million and it is anticipated to reach USD 12,958.8 million by 2029. As a result, the growing flame retardants globally is anticipated to support the market growth. Moreover, use of aluminum hydroxide in water treatment plants, and Growing use of polymers in the automotive industry is anticipated to create the lucrative opportunity for the market for the market during projected period 2023-2030. However, the availability of magnesium hydroxide and other alternative products stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Alumina Trihydrate Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growth of the construction and infrastructure sectors, continuous research and development efforts to improve the properties and applications of alumina trihydrate, and shift towards halogen-free flame retardants.
Whereas, Asia Pacific region is expected to grow at fastest growth rate during the forecast period, owing to factors such as the increasing construction and infrastructure development, stringent fire safety regulations, expansion of electronics and electrical industry, and presence of regulations and standards promoting the use of flame retardants in various industries has boosted the demand for alumina trihydrate.
The global Alumina Trihydrate Market is highly competitive owing to the presence of several key manufacturers such as Sumitomo Chemical Co. Ltd., Aluminum Corp. of China Ltd., Nabaltec AG, National Aluminium Company Ltd., Huber Engineered Materials, SCR Sibelco NV, R.J. Marshall Company, and others.
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Key findings of the study suggest:
- Global Alumina Trihydrate Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the End-use segment, Plastics emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to growth of the construction and infrastructure sectors.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Form:
- Dry
- Wet
By End-use:
- Chemical Manufacturing
- Plastics
- Automotive
- Construction
- Other End-uses
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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