DUBLIN--(BUSINESS WIRE)--The "Alumina Trihydrate Market by Type (Ground, Wet, Dry, Precipitate), Application (Flame Retardant, Filler, Antacid), End-Use Industry (Plastic, Building & Construction, Paints & Coatings, Pharmaceuticals, Glass, Rubber), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global alumina trihydrate market size is estimated at USD 1.5 billion in 2020 and is projected to reach USD 1.9 billion by 2025, at a CAGR of 5.5% from 2020 to 2025.
The growth of the alumina trihydrate market can be attributed to flourishing plastics and building & construction industries globally with the increasing use of alumina trihydrate in various applications. The rising demand for fire safety and cost-effective fillers has led to the increased consumption of alumina trihydrate in various end-use industries such as plastics.
Impact of COVID-19 outbreak on the alumina trihydrate market
The outbreak of COVID-19 has affected the market for alumina trihydrate manufacturers catering to the plastic, building & construction, paints & coatings and other products which were not considered as essential. Moreover, most of the global companies operating in this market are based in the Asia Pacific, US, and European countries, which are adversely affected by the pandemic. These companies having their manufacturing units in China and other Asian countries are also severely affected. Therefore, disruptions in the supply chain have resulted in hampering production units due to a lack of raw materials and workforce.
The ground segment is expected to be the largest type segment of the alumina trihydrate market during the forecast period
Ground alumina trihydrate is a white crystalline powder having low impurity content, good stability, uniform particle size, and good dispersibility. After drying, alumina hydrate is ground using mechanical mills and ceramic lined ball mills to obtain finer particle sizes. This grade is also used in paper industries as a whitening agent in place of titanium dioxide and as a filler material, flame retardant, and smoke suppressor in thermoplastics, thermosets SMC/DMC molding, FRP, PVC. Ground alumina trihydrate can improve the anti-leakage, arc resistance, wear resistance, and anti-aging performance of the products.
The flame retardant segment is expected to be the fastest-growing application segment of the alumina trihydrate market during the forecast period
Flame retardants are substances that are added to polymers and other materials used in electronics, textiles, buildings, and furniture to slow down the production of flames in case event of a fire. Flame retardants reduce the flame either by releasing moisture or by forming char. The growing number of residential and commercial establishments has increased the risks of explosions and fire-related accidents. Thus, several countries across North America and Europe have mandated stringent fire safety regulations and protocols. This has led to the increased use of flame retardant across buildings to meet these government regulations.
Plastics segment to be the fastest-growing segment in the alumina trihydrate market
Plastic materials need to be incorporated with flame retardant chemicals, as these materials can easily catch fire. With the growing consumption of plastic materials for various applications, the use of flame retardant chemicals has become inevitable, driving the growth of the market. Polyolefins are the most widely used polymers. They have a wide range of applications across all industries. The use of polyethylene and polypropylene is increasing in various consumer-centric industries. When mixed with suitable flame retardants, polyethylene and polypropylene exhibit outstanding thermal properties and are widely used in packaging, wires & cables, and to maintain fire resistance in materials.
The Asia Pacific region is expected to grow at the highest rate during the forecast period
By region, Asia Pacific is estimated to account for the largest share of the global alumina trihydrate market in 2019 and is expected to grow at the highest growth rate during the forecast period. Factors such as rising disposable income, changing lifestyles, and growing middle-class population are expected to drive the demand, which in turn, will support the growth of the market in the region.
Market Dynamics
Drivers
- Increasing Demand for Non-Halogenated Flame Retardants
- Increasing Demand for Alumina Trihydrate in the Paints & Coatings Industry
- Increasing Demand for Plastics
- Plastic Consumption, by Country, 2015-2018 (Kiloton)
Restraints
- Availability of Magnesium Hydroxide and Other Alternative Products
Opportunities
- Use of Aluminum Hydroxide in Water Treatment Plants
- Growing Use of Polymers in the Automotive Industry
Challenges
- Environmental Issues Related to Alumina Production
Companies Mentioned
- Akrochem Corporation
- Almatis Gmbh
- Alteo
- Alumina Chemicals & Castables
- Aluminum Corporation of China Limited
- BN Industries
- Dadco Alumina and Chemicals Limited
- Elite Chemicals
- Hayashi Kasei Co. Ltd.
- Hindalco Industries Limited
- Huber Engineered Materials
- Jinan Chenxu Chemical Co. Ltd.
- KC Corporation
- LKAB Minerals Ab
- Mal - Magyar Aluminium Termelo Es Kereskedelmi Zrt.
- Nabaltec Ag
- National Aluminium Company Limited
- Parchem - Fine & Specialty Chemicals
- Scr- Sibelco Nv
- Southern Ionics Incorporated
- Spectrum Chemical Mfg. Corp.
- Sumitomo Chemical Company, Limited
- Taurus Chemicals Private Limited
- The R.J. Marshall Company
- TOR Minerals
For more information about this report visit https://www.researchandmarkets.com/r/clg7ar
