Global Alumina Trihydrate Market was valued at US$ 4,613.5 MN in 2022, and is projected to reach US$ 7,589.3 MN by 2030, exhibiting a CAGR of 6.42 % during the forecast period (2023-2030). Global Alumina Trihydrate Market, By End User Industry (Plastic Industry, Paper Industry, Paints & Coatings Industry, Adhesives Industry, Chemicals Industry, Pharmaceuticals Industry, Others), By Regions (North America, Latin America, Western Europe, Eastern Europe, Middle East and Africa, Asia Pacific, excluding Japan, Japan) - Size, Share, Outlook, and Opportunity Analysis, 2023-2030). Published By: Coherent Market Insights.
Definition of Market/Industry:
Alumina trihydrate (ATH) is a non-corrosive and non-toxic chemical compound that is widely used as a flame retardant and smoke suppressant in various elastomeric applications due to its excellent thermodynamic properties. It effectively absorbs heat and releases water which reduces the risk of fire and prevents oxygen from reaching the flame. It has four polymorphs namely gibbsite, doyleite, bayerite, and nordstrandite. Alumina trihydrate is a highly functional and versatile pigment and beneficial in several coatings, adhesives, inks, caulks, and sealant applications.
Statistics:
Global Alumina Trihydrate Market was valued at US$ 4,613.5 MN in 2022 and is projected to reach US$ 7,589.3 MN by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/alumina-trihydrate-market-3214
Drivers:
Growing demand for alumina trihydrate from the pharmaceutical industry in the formulation of antacid medicine is expected to foster market growth. Additionally, rising demand for alumina trihydrate from water treatment applications where it acts as flocculants in water purification is also expected to foster market growth.
Market Opportunities:
Increasing usage of alumina trihydrate in the production of batteries as alumina trihydrate can be recycled to produce new aluminum anode, which makes the battery rechargeable. Therefore, the usage of alumina trihydrate in the li-ion batteries can open new doors of opportunity to the market of alumina trihydrate.
Market Restraints:
Growing usage of magnesium hydroxide as an alternative to alumina trihydrate from the pharmaceutical industry in the preparation of antacid formulation as it effectively reduces stomach acid and increases water in the intestine. This factor is expected to hinder the market growth of Alumina trihydrate.
Market Trends: Trend 1:
The growing application of alumina trihydrate-based Adjuvants in vaccines is a major trend that has been observed in the market. Alumina trihydrate adjuvants compose has a mechanism of the repository effect, pro-phagocytic effect, and activation of pro-inflammatory NLRP3 (NOD-, LRR- and pyrin domain-containing protein 3) NLRP3 is expected to offer enormous growth opportunity to the market.
Trend 2:
Rising usage of alumina trihydrate in phosphate binders is gaining popularity and traction in the market. Phosphate binders bind phosphate in the blood which limits its circulation with blood. Therefore, the rising usage of Alumina trihydrate phosphate binders for the treatment of hyperphosphatemia is projected to offer a lucrative growth opportunity to the market.
Competitive Section: Company Names
Alfa Aesar, Sumitomo Chemical Co. Ltd., Albemarle Corporation, Nabaltec AG, Huber Engineered Materials (J. M. Huber Corporation), Showa Denko K.K., NALCO, MAL Zrt., Alcoa Inc., and Aluminum Corp. of China Ltd.
Few Recent Developments Nabaltec AG
- In February 2016, the company announced the establishment of a wholly-owned subsidiary in Tokyo, Japan, to cater to demand from the Asia Pacific region.
Huber Engineered Materials
- In February 2016, the company acquired Albemarle Corporation’s specialty chemical business and Martinswerk Mineral flame retardant businesses
- In June 2015, Huber Engineered Materials acquired the Safire nitrogen and phosphorus fire retardant technology from Floridienne Group
- In October 2018, the Fire Retardant Additives (FRA) business unit, part of the Huber Engineered Materials (HEM) division of J.M. Huber Corporation, announces its Fine Precipitated Hydrate (FPH) phase two capacity expansion project at the Martinswerk Plant. The MARTINAL LEO fine precipitated alumina hydrate grades offer consistently superior processing properties and serve as the company’s global product platform for its customers.
Showa Denko K.K
- In February 2015, Indonesia Chemical Alumina (ICA), a joint corporation owned by Showa Denko K.K. (SDK) and PT ANTAM (Persero) Tbk (ANTAM), of Indonesia, has started commercial operation of its new chemical alumina plant established in the Tayan District, West Kalimantan, Indonesia.
MAL Zrt. Strategy:
- The company is focusing on expanding its facilities to focus on its core industrial products—hydrates and alumina
- It focuses on restructuring its manufacturing operation with an aim to strengthen its market position in Europe
