According to the latest report by IMARC Group, titled “Aluminum Hydroxide Market Report by Grade (Industrial Grade, Pharmaceutical Grade), Form (Powder, Gel), Application (Plastics, Pharmaceuticals, Coatings, Adhesives, Sealants and Elastomers, and Others), and Region 2023-2028,” the global aluminum hydroxide market size reached US$ 1.89 Billion in 2022. Aluminum hydroxide, also known as alumina trihydrate, is a chemical compound that is characterized by its white, odorless, and crystalline appearance. It can release water vapor when exposed to high temperatures, effectively decreases the spread of flames, and reduces smoke emissions, which makes it a valuable component in fire safety measures. It assists in providing relief from symptoms of heartburn and indigestion among individuals. As it serves as a crucial raw material in the production of aluminum metal, reflecting its significance in the metallurgical industry, the demand for aluminum hydroxide is increasing across the globe.
Global Aluminum Hydroxide Market Trends:
At present, the rising utilization of aluminum hydroxide as a filler in the plastic sector represents one of the major factors contributing to the growth of the market. Additionally, the increasing popularity of fire-resistant materials in several sectors is strengthening the market growth. Apart from this, the growing demand for eco-friendly products that benefit from reducing environmental pollution is positively influencing the market. Moreover, the increasing employment of aluminum hydroxide in antacid formulations, along with the rising prevalence of digestive disorders among individuals, is bolstering the market growth. In line with this, the growing demand for aluminum hydroxide in flame-resistant medical equipment to ensure safety in healthcare settings is offering a positive market outlook. Looking forward, the market value is projected to reach US$ 2.58 Billion by 2028, expanding at a CAGR of 5% during 2023-2028.
- Based on the grade, the industrial grade exhibits a clear dominance in the market, followed by pharmaceutical grade.
- On the basis of the form, the market has been bifurcated into powder and gel. Presently, powder holds the biggest market share.
- Based on the application, the market has been classified into plastics, pharmaceuticals, coatings, adhesives, sealants and elastomers, and others. At present, plastics dominate the market, accounting for the largest share.
- Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Akrochem Corporation, Albemarle Corporation, American Elements, Bisley & Company Pty Ltd., Hindalco Industries Limited (Aditya Birla Group), J.M. Huber Corporation, Nabaltec AG, Nippon Light Metal Holdings Co. Ltd., Showa Denko K. K., Sibelco, Sumitomo Chemical Co. Ltd., and TOR Minerals International Inc.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
||Industrial Grade, Pharmaceutical Grade
||Plastics, Pharmaceuticals, Coatings, Adhesives, Sealants and Elastomers, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Akrochem Corporation, Albemarle Corporation, American Elements, Bisley & Company Pty Ltd., Hindalco Industries Limited (Aditya Birla Group), J.M. Huber Corporation, Nabaltec AG, Nippon Light Metal Holdings Co. Ltd., Showa Denko K. K., Sibelco, Sumitomo Chemical Co. Ltd., TOR Minerals International Inc., etc.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
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