SAN FRANCISCO, August 6, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Alumina trihydrate – Global market trajectory and analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 8; Posted: May 2021
Executive pool: 462
Companies: 37 – Players covered include Akrochem Corporation; Almatis; Altéo; Aluminum Corporation of China Limited; Hindalco; Huber engineering materials; LKAB Minerals AB; Hungarian aluminum production and trading company MAL; Nabaltec SA; NALCO; SHOWA DENKO KK; Southern Ionics Incorporated; TOR Minerals and others.
Blanket: All major geographies and key segments
Segments: Application (flame retardant, filler, antacid, other applications); End-use industry (plastics, building and construction, pharmaceuticals, paints and coatings, other end-use industries)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global Alumina Trihydrate Market To Reach $ 1.8 billion by 2024
Alumina trihydrate (ATH) is an amphoteric compound that occurs naturally in various mineral forms such as bayerite, doyletie, gibbsite and nordstrandite. ATH is produced commercially using the Bayer process, in which bauxite is dissolved in sodium hydroxide at high temperature. The resulting white crystalline ATH powder, non-toxic, non-abrasive, odorless and halogen-free is also known as alumina hydrate, hydrated alumina, aluminum hydroxide, and aluminum trihydroxide. Being amphoteric in nature and possessing excellent properties such as flame retardancy, chemical inertia, smoke suppression, thermal conductivity and versatility, ATH finds use in a variety of myriad applications. ATH is widely used as a flame retardant and smoke suppressant, and is also used as a raw material for the production of alumina, aluminum nitrate, calcined alumina, sodium aluminate, sulphate of aluminum and polyaluminum chloride (PAC). As the product works on the principle of endothermic decomposition giving off water and absorbing heat from fire, ATH finds wide use in the production of flame retardant plastics such as polyvinyl chloride and polyethylene, besides being used in flame retardant wires and cables. ATH is used as a flame retardant in the production of rubber products and carpet backing, while it is used as a smoke suppressant in polymers. Aluminum production is the most common application of ATH. The various application areas in which the product is used include aluminum, adhesives, chemicals, coatings and paints, ink, caulks and sealants, wire and cable, paper , rubbers and carpet backings, among others.
Amid COVID-19 Crisis, Global Alumina Trihydrate Market Expected to Reach US $ 1.8 billion by 2024, registering a compound annual growth rate (CAGR) of 5.2% over the analysis period. Europe represents the largest regional market for alumina trihydrate, accounting for an estimated 23.1% share of the global total. The market is expected to reach US $ 426.5 million before the end of the analysis period. China is expected to spearhead the growth and become the fastest growing regional market with a CAGR of 7.3% during the analysis period. Strict safety regulations imposed by several governments around the world are likely to encourage the use of ATH as flame retardants and smoke suppressants in the construction and furniture industries. The market is also benefiting from the growing demand from the automotive industry for flame retardant plastics. The booming electronics industry coupled with the growing emphasis on the Internet of Things (IoT) and automation is driving the growth of the ATH market. Due to the cost effectiveness of the product, ATH is in high demand in the paper, paint and coating industries. The growth of the ATH market is also due to the increasing use of ATH in architectural high gloss coatings as well as high end semi-gloss coatings due to its property of offering a balance between the contrast ratio and strength of tint. Unlike other typical mineral thinners, ATH extends the life of coatings without any darkening effect. High brightness and low cost make ATH the preferred option over titanium dioxide. With its anticorrosive properties and lack of milk in bulk colors, the product is widely used in the paint and coating industry. ATH also finds use in various chemical operations such as ion exchange, filter media, and chromatography devices. With water purification properties, ATH finds use in water treatment in the chemical, food and dairy, petroleum, textile and paper industries. Strict environmental regulations regarding wastewater disposal are likely to propel the demand for ATH with effective dewatering and sludge digestion properties in the industrial wastewater treatment market. Following
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SOURCE Global Industry Analysts, Inc.