The growth of the alumina trihydrate market can be attributed to flourishing plastics and building & construction industries globally with the increasing use of alumina trihydrate in various applications.
New York, March 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Alumina Trihydrate Market by Type, Application, End-Use Industry, Region - Global Forecast to 2025" - https://www.reportlinker.com/p05390741/?utm_source=GNW
The rising demand for fire safety and cost-effective fillers has led to the increased consumption of alumina trihydrate in various end-use industries such as plastics.
Impact of COVID-19 outbreak on the alumina trihydrate market
The outbreak of COVID-19 has affected the market for alumina trihydrate manufacturers catering to the plastic, building & construction, paints & coatings and other products which were not considered as essential.Moreover, most of the global companies operating in this market are based in the Asia Pacific, US, and European countries, which are adversely affected by the pandemic.
These companies having their manufacturing units in China and other Asian countries are also severely affected. Therefore, disruptions in the supply chain have resulted in hampering production units due to a lack of raw materials and workforce.
The ground segment is expected to be the largest type segment of the alumina trihydrate market during the forecast period
Ground alumina trihydrate is a white crystalline powder having low impurity content, good stability, uniform particle size, and good dispersibility.After drying, alumina hydrate is ground using mechanical mills and ceramic lined ball mills to obtain finer particle sizes.
This grade is also used in paper industries as a whitening agent in place of titanium dioxide and as a filler material, flame retardant, and smoke suppressor in thermoplastics, thermosets SMC/DMC molding, FRP, PVC. Ground alumina trihydrate can improve the anti-leakage, arc resistance, wear resistance, and anti-aging performance of the products.
The flame retardant segment is expected to be the fastest-growing application segment of the alumina trihydrate market during the forecast period
Flame retardants are substances that are added to polymers and other materials used in electronics, textiles, buildings, and furniture to slow down the production of flames in case event of a fire.Flame retardants reduce the flame either by releasing moisture or by forming char.
The growing number of residential and commercial establishments has increased the risks of explosions and fire-related accidents.Thus, several countries across North America and Europe have mandated stringent fire safety regulations and protocols.
This has led to the increased use of flame retardant across buildings to meet these government regulations.
Plastics segment to be the fastest-growing segment in the alumina trihydrate market
Plastic materials need to be incorporated with flame retardant chemicals, as these materials can easily catch fire.With the growing consumption of plastic materials for various applications, the use of flame retardant chemicals has become inevitable, driving the growth of the market.
Polyolefins are the most widely used polymers.They have a wide range of applications across all industries.
The use of polyethylene and polypropylene is increasing in various consumer-centric industries. When mixed with suitable flame retardants, polyethylene and polypropylene exhibit outstanding thermal properties and are widely used in packaging, wires & cables, and to maintain fire resistance in materials.
The Asia Pacific region is expected to grow at the highest rate during the forecast period
By region, Asia Pacific is estimated to account for the largest share of the global alumina trihydrate market in 2019 and is expected to grow at the highest growth rate during the forecast period.Factors such as rising disposable income, changing lifestyles, and growing middle-class population are expected to drive the demand, which in turn, will support the growth of the market in the region.
Further, factors, such as the ready availability of raw materials and workforce, along with sophisticated technologies and innovations, have driven the growth of the economy in the Asia Pacific region.
Breakdown of primary interviews for the report on the ALUMINA TRIHYDRATE market
• By Company Type – Tier 1 – 16%, Tier 2 –36%, and Tier 3 – 48%
• By Designation – C-Level – 12%, D-Level Executives – 28%, and Others – 60%
• By Region –Europe – 36%, North America – 28%, Asia Pacific – 20%, Middle East & Africa–12% and South America– 4%
Sumitomo Chemical Company, Limited (Japan), Hindalco Industries Limited (India), Aluminum Corporation of China Limited (China), Nabaltec AG (Germany), and Huber Engineered Materials (US) are the key players in the alumina trihydrate market.These companies are focused on investing in plant capacity expansions and acquisitions.
They are expanding their product portfolios and compete with other key market players.
The report covers the alumina trihydrate market by type (ground, wet, dry, precipitate), application (flame retardant, antacid, filler), end-use industry (plastic, building & construction, paint & coatings, glass, rubber, pharmaceuticals), region.The study aims at estimating the size and future growth potential of the market across various segments.
It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. With these insights, the study discusses the basic views on the competitive landscape, emerging & high-growth segments, high-growth regions, drivers, restraints, opportunities, and challenges in the alumina trihydrate market.
The report provides insights on the following:
• Market Penetration: Comprehensive information on various products of alumina trihydrate offered by top players operating in the market
• Product Development/Innovation: Detailed insights into upcoming developments in the alumina trihydrate market, R&D activities, and new applications
• Market Development: Comprehensive information about lucrative and emerging markets across different regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the alumina trihydrate market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the alumina trihydrate market
Read the full report: https://www.reportlinker.com/p05390741/?utm_source=GNW
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