HIGH ALUMINA AGGREGATE MARKET ANALYSIS

Market Challenges And Opportunities

Drivers:

Rising automotive production

Rising automotive production and sales in developing countries, such as China and India and increased the per capita discretionary money which helps to boost the market growth in upcoming years. Furthermore, it is anticipated that throughout the projection period, demand for alumina would increase due to the growing need for lighter and rising components to increase automotive fuel efficiency and lower carbon footprint.

Increased the sales of electric cars

Increased the sales of electric cars due to growing need for lithium-ion batteries can help to fuel the global high alumina aggregate market growth in upcoming years. Alumina is widely used to create ballistics and bulletproof glass in the defense sector which can help to propel the market growth.

Market Restraints

High cost of raw materials

High cost of raw materials is one of the major restraining factors in the global high alumina aggregate market growth. The availability of substitutes of alumina aggregates, such as zinc hydroxystannate (ZHS), zinc stannite, and magnesium hydroxide which are used as flame retardants due to their excellent flame retardancy and smoke suppression properties is further expected to hinder the growth of the high alumina aggregate market in the coming years.