Global Alumina Trihydrate Market by application (flame retardant, filler, antacid, others), end-use industry (plastics, building & construction, paints & coatings, pharmaceuticals, glass, rubber) is expected to reach US$ 2.1Bn by 2026, at a CAGR of 5.98% during a forecast period.
Increasing demand for plastics from various end-user industries and increasing construction industrial activities are some of the factors driving the market growth. However, growing raw material and labor cost are restraining the alumina trihydrate market.
Plastics segment is estimated to account for a major share of the overall alumina trihydrate market in 2017.
Development and the need for fire safety are factors leading to the increased demand for plastics. The consumption of alumina trihydrate as a flame retardant is high in the building and construction sector. The rising building safety awareness among masses has led to the development of energy-efficient buildings. As such, conventional plastics in these buildings are always replaced with flame retardant plastics.
Flame retardant segment is dominating the global alumina trihydrate market.
The flame retardant segment is expected to grow at the highest CAGR during the forecast period owing to the growing demand for flame retardant for fire safety in various applications for instance wires & cables, and plastics product, among others. Alumina trihydrate is used as a filler in polyester resins, epoxy coatings, and urethane used in plastics because of its high thermal conductivity and excellent fire retardant properties.
The Asia Pacific is projected to hold the largest share in the global Alumina Trihydrate market throughout the forecast period.
Asia Pacific is projected to hold the major alumina trihydrate market share during the forecast period 2018–2026 owing to increasing applications of flame retardant in several industries such as plastics and buildings & construction, especially in China. Presence of huge chemical manufacturing companies coupled with growing government support is likely to drive the growth of the market.
Key Players operating the Global Alumina Trihydrate Market are Albemarle Corporation, Nabaltec AG, Huber Engineered Materials (HEM), Sumitomo Chemical Company, Limited, Lkab Minerals AB, SCR – Sibelco NV, Aluminum Corporation of China Limited (Chalco), The R.J. Marshall Company, Alteo, Southern Ionics Incorporated, Jinan Chenxu Chemical Co., Ltd., KC Corporation, Hayashi Kasei Co., Ltd, Dadco Group, Alumina Chemicals & Castables, Spectrum Chemical Mfg. Corp.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Alumina Trihydrate Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Alumina Trihydrate Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Alumina Trihydrate Market positioning of competitors.
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