Increasing Demand for Flame Retardant is Propelling the Global Alumina Trihydrate Market
According to a new report published by Reports Monitor titled, “Alumina Trihydrate Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” theAlumina Trihydrate Marketwas valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia Pacific (APAC) accounts to hold the major share owing to increasing application of flame retardant in various industries such as plastics & buildings & construction.
Alumina trihydrate is a white, odorless, powdery, solid substances which is mostly used for the production of aluminum metal. It is widely used flame retardant due to its versatility and low cost. Moreover, it is available in different particle sizes and can be used in wide range of polymers at processing temperatures below 220-degree celsius.
There is increasing use of the market as a substitute of titanium dioxide pigments in paints & coatings and paper industry due to cost efficiency is a major factor propelling the growth of the market. The other elements driving the market includes rising demand for flame retardant plastics in the automotive industry along with increasing growth of alumina trihydrate in water treatment. Furthermore, the pharmaceutical industries are booming throughout the world which give rise to the growth of the market. Moreover, the market is observing positive opportunities owing to rise in severe regulations by government of numerous countries for the use of flame retardants in furniture and construction activities. However, rising preference for magnesium hydroxide as antacids in pharmaceutical industry is a severe challenge to the market.
The global alumina trihydrate market is bifurcated into various segments such as end-user, application, and region. Based on the end-user segment, the market is classified into plastics, building & construction, pharmaceuticals, paints & coatings, glass, rubber, and others. Depending upon the application, the market is bifurcated into flame retardant, filler, antacid, and others. The flame-retardant application is expected to grow owing to the increasing demand for flame retardant for fire safety in different applications such as wires & cables, and plastics product, among others.
Key Question Answered:
•What will be the market size in 2025 and at what rate it will grow?
•Who are the major key players in global alumina trihydrate market and what are their strategies?
•Which vertical industry is expected to show major growth?
•What segment and region will lead the market and why?
The major companies in the report include: Albemarle Corporation, Alfa Aesar, Sumitomo Chemical Corporation Limited, Huber Engineered Materials, Alcoa Inc., Aluminum Corporation of China Ltd., Nabaltec AG, Showa Denko K.K. and MAL Zrt.
For instance, in January 2018 Huber Engineered Materials announced a global price increase for its alumina trihydrate and magnesium hydroxide flame retardant products.
About Garner Insights:
We at Garner Insights.com provide a comprehensive analysis by providing in-depth reports of the various market verticals. Our Mission is to provide a detailed analysis of the vast markets worldwide backed by rich data. Decision makers can now rely on our well-defined data gathering methods to get the correct and accurate market forecasting along with detailed analysis.