(I-BusinessNews.Com, June 20, 2021 ) Alumina Trihydrate Market is forecast to reach $2.30 billion by 2026, after growing at a CAGR of 6.2% during 2021-2026. Low cost of aluminium trihydrate retardant and growing acceptance of aluminium trihydrate from various industries such as the paper industry and the water treatment industry is a major driver of the growth of the global demand for aluminium trihydrate. In addition, the change of preference from titanium oxide to aluminium trihydrate in the paint and coating industry and the use of flame retardant plastics in the automotive industry are expected to further drive the growth of the alumina trihydrate market.
Alumina Trihydrate Market Segment Analysis – By Form
Powder held the largest share in the Alumina Trihydrate market in 2020. Aluminum Trihydrate is available in various uncoated and coated grades, with an average particle size ranging from 2 microns to 80 microns per sample. Aluminum Trihydrate is a common primary ingredient found in most solid surface materials and accounts for up to 70 % of the total product. ATH is made from bauxite ore, a natural material that is the main source of aluminum. The powder is used to create a variety of alumina chemicals. Alumina Trihydrate is the filler of choice for many solid surface manufacturing companies due to its many beneficial properties.
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Alumina Trihydrate Market Segment Analysis – By Application
Coatings has been the primary market for alumina trihydrate in 2020. Aluminum Trihydrate (ATH) is the most commonly used flame retardant in industrial coatings due to its flexibility and low cost. It can be used in a wide variety of paint binders at working temperatures below 220°C. ATH is non-toxic, halogen-free, chemically inert and low abrasive. Additional advantages include exposure to acids and suppression of smoke. Apart from coatings industry the alumina trihydrate produced is being used in the plastics industry. Plastics are being used in different end-user industries owing to the advantages such as low cost, less weight, durable, water resistant, and others. Rising demand for lightweight materials in the automotive industry, with a view to rising performance and versatility in design, is primarily responsible for the growth of the plastics market.
Alumina Trihydrate Market Segment Analysis – By End Use Industry
Building and Construction industry has been the primary market for Alumina Trihydrate in 2020 growing at a CAGR of 7.2%. North America, Europe and Asia are the regions with the most dominance in terms of the number of deals entered. Both Europe and Asia show decline in construction deals over 2018 compared to 2017, while North America shows a sharp growth in total deals recorded. Currently, the global economy is in severe slowdown mode amidst deepening credit crunch, upsetting developmental targets of economies and COVID-19 pandemic across the world. The COVID-19 pandemic has reduced investment in construction related projects in the range of 13 to 30% which will have significant impact on Gross Value Added (GVA) and employment in this sector. Since the construction sector is primarily dominated by infrastructure projects, the current levels of uncertainty are expected to seriously hit the sector.
Alumina Trihydrate Market Segment Analysis – By Geography
APAC dominated the Alumina Trihydrate market with a share of more than 40% in 2020, followed by North America and Europe. With rising demand for plastics and growing construction industries in countries such as China, India and Japan, the use of alumina trihydrate is rising in the region. The demand in the area is expected to report the highest CAGR during the forecast period. These growing industries are anticipated to fuel the demand for Alumina Trihydrate during the forecast period. In addition, the booming construction industry in countries like India, China is contributing to the demand for Alumina Trihydrate sector, which in turn propels the growth of the alumina trihydrate market. In developed countries, the construction sector is mature relative to the construction sector in emerging economies, which is rising significantly, fueled by the rising population and increasing urbanization. It is projected that by 2021, China and India will together account for about 40% of the global construction industry.
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Alumina Trihydrate Market Drivers
Rising application of Alumina Trihydrate in Engineering Plastics
Due to the growing demand for engineering plastics worldwide in the electronics, construction and automotive industries, the demand for flame retardants is growing. Automotive and computer manufacturers use alumina trihydrate as flame retardants in their products because of its cost-effectiveness and non-toxicity. Although newly developed alumina trihydrates are expected to replace and resolve limitations, sales of alumina trihydrate are likely to increase.
Increasing growth of Paper and Paints & Coatings Industry
Paints and coatings are used for various uses, such as automotive finishing, construction, protective coatings, wood coatings and decorative purposes. While the functional features of alumina trihydrate continue to put them above the other industrial chemicals available on the market, a large amount of alumina trihydrate is applied to the paint to maintain the brilliance and improve clarity. However, the additional sustainability benefit is considered to be the most significant factor driving the prospects for alumina trihydrate in the immediate future.
Alumina Trihydrate Market Challenges
Availability of substitute can restrict the market growth
The availability of substitute such as magnesium hydroxide which acts as better antacid could challenge the market demand. In addition, magnesium hydroxide has smoke reduction and flame retardant properties and is also commercially used as a fire retardant. It can also be used topically as a deodorant or for the relief of canker sores.
Alumina Trihydrate Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Alumina Trihydrate market. In 2020 the Alumina Trihydrate market has been consolidated by the top five players accounting for xx% of the share. Major players in the Alumina Trihydrate market are Albemarle Corporation, Alcoa Corporation, Aluminum Corporation of China Limited, Huber Engineered Materials, SHOWA DENKO K.K., and Others.
Acquisitions/Technology Launches/ Product Launches
In February 2016, J.M. Huber Corporation, through its Huber Engineered Materials (HEM) division, acquired the Martinswerk business of Albemarle Corporation. The acquisition will boost the business unit both from a product and geographic standpoint.
Key Takeaways
Asia-Pacific dominates the alumina trihydrate market owing to increase in demand for the infrastructure and growing end users of alumina trihydrate in major economy such as China and India.
Due to properties such as light weight and high strength, it is expected to continue to be the most favorable material for the manufacture of automobiles. This, in turn, would raise demand for the alumina trihydrate market.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in PVC Additives market and their specific segmented revenue.
Related Reports :
A. Alumina Trihydrate (ATH) Flame Retardant Market
https://www.industryarc.com/Report/17905/alumina-trihydrate-ath-flame-retardants-market.html
B. NAFTA Alumina Trihydrate (ATH) Flame Retardant Market
https://www.industryarc.com/Report/18763/nafta-alumina-trihydrate-flame-retardant-market
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