The market for aluminum hydroxide (Alumina Trihydrate) is anticipated to register a CAGR of 4.86%, in terms of volume, during...

Date : 09/11/2019 @ 3:05PM
Source : PR Newswire (US)

The market for aluminum hydroxide (Alumina Trihydrate) is anticipated to register a CAGR of 4.86%, in terms of volume, during...

NEW YORK, Sept. 11, 2019 /PRNewswire/ --

Market Overview
The market for aluminum hydroxide (Alumina Trihydrate) is anticipated to register a CAGR of 4.86%, in terms of volume, during the forecast period 2019-2024. Major factors driving the market studied include increasing usage in polymer applications, primarily as fire retardants and rise in safety standards in building construction. Increasing health risks, primarily due to exposure to aluminum hydroxide, are expected to hinder the growth of the market studied.

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- Industrial grade dominated the market in 2018 and is expected to grow during the forecast period owing to the diverse industrial applications, like flame retardant chemicals, fillers and coatings, adhesives, sealants, and elastomers.
- Increasing usage in batteries and chemicals are expected to act as a growth opportunity for the market studied over the forecast period.

Key Market Trends
Increasing Use in Polymer Applications as Fire Retardants

- Alumina trihydrate is majorly used in plastics as a flame retardant. Almost 50%-60% of the alumina trihydrate produced is being used in the plastics industry.
- In thermoplastics, flame retardant substances are added to the polymer matrix in molten state during extrusion, while in thermosetting plastics, the flame-retardant materials are incorporated in the polymer structure by means of polycondensation or grafting.
- Plastics are being used in different end user industries, owing to the advantages, such as low cost, less weight, durable, water resistant, etc. Some of the major end-user industries include automotive and transportation, construction, and electrical and electronics, among others.
- Growing demand for lightweight and fire-resistant materials in the automotive industry, in order to provide increased efficiency and design flexibility, is primarily responsible for the growth of the plastics market. High-performance plastics offer manufacturers the advantages of design and comparable strength of steel, thus, this helps in reducing the overall weight and controlling greenhouse gas emissions.
- The electrical industry is seeking substitutes for halogens, as flame retardants, due to health, safety, and recycling reasons. The non-halogenated materials are being used as replacement for halogenated materials in electrical applications, such as the insulating elements and housings for circuit breakers, contactors, transformers, and motors.
- The increase in polymer production activities in the Asia-Pacific and European regions is likely to drive the aluminum hydroxide market during the forecast period.

China to dominate in Asia-Pacific

- China dominated the Asia-Pacific's market in 2018. China has one of the world's largest chemical markets, and exerts a significant impact on the regional market. There was a rapid growth in cross-border mergers and acquisitions by state-owned enterprises and private entities, as well as outbound greenfield investments, in the recent years.
- During the ongoing 13th five year plan, China's chemical industry is expected to enter a new stage, which is characterized by green development, industrial upgradation, and structural developments.
- The Chinese healthcare sector is also growing at a rapid pace. As a part of Beijing's "Made in China 2025" industry plan, President Xi Jinping announced his plans to focus on the innovation and homegrown R&D concerning the pharmaceutical sector.
- China's largest pharmaceutical company, Jiangsu Hengrui, had a market capitalization of USD 39.8 billion in 2018, which was about half of Johnson & Johnson's (the largest global pharmaceutical company) market capitalization, i.e., USD 80.7 billion, in the same year.
- All such factors are expected to drive the Chinese aluminum hydroxide market during the forecast period.

Competitive Landscape
The aluminum hydroxide market is fragmented in nature, with several manufacturers across the world. The major companies include Aluminum Corporation of China Limited (Chalco), Nabaltec AG, TOR Minerals International Inc., Huber Engineered Materials, and LKAB Minerals AB.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support

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