Global Aluminum Hydroxide Market Overview 2023-2028
The global aluminum hydroxide market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
Aluminum hydroxide, also known as hydrate of alumina, is a white, odorless, and crystalline chemical substance that is derived from bauxite ore. It is a versatile compound that is characterized by its enhanced flame-retardant properties, making it a crucial component in the manufacturing of fire-resistant materials. It is non-toxic and has a lower risk of side effects in medical formulations. It can release water vapor when exposed to high temperatures and effectively suppresses flames, which makes it a key component in products like fireproof coatings, cables, and building materials.
It enhances fire safety, reduces the spread of fires, and protects the lives and property of individuals. It is chemically inert and does not react with other substances, which benefits in maintaining the stability of various products. It serves as a coagulant to remove impurities, suspended particles, and contaminants from water sources and helps in the clarification and purification of drinking water and wastewater. It assists in offering relief from heartburn and indigestion by neutralizing excess stomach acid. It also aids in removing accumulated grease and grime from manufacturing equipment.
Besides this, it is beneficial in maintaining the stability of products by not reacting with other substances. As a result, aluminum hydroxide is widely utilized in the construction, pharmaceutical, chemicals, cosmetics, electronics, and automotive industries across the globe.
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Global Aluminum Hydroxide Market Trends and Drivers:
Presently, the escalating demand for flame retardants across various industries on account of rising safety concerns among individuals represents one of the significant factors strengthening the growth of the market. Apart from this, the increasing utilization of aluminum hydroxide as an antacid to alleviate discomfort caused by gastric acid reflux and related gastrointestinal issues is supporting the market growth.
Additionally, there is a rise in the need for fire-resistant building materials among the masses around the world. This, coupled with the increasing usage of aluminum hydroxide in the automotive sector to remove oil, grease, and road grime, is offering lucrative growth opportunities to industry investors. In line with this, the growing demand for aluminum hydroxide as a filler and reinforcement agent in the production of ceramics and ceramic-based products, along with the rising usage of aluminum hydroxide to enhance the mechanical properties of rubber and plastic products, is positively influencing the market.
Moreover, the increasing development of eco-friendly aluminum hydroxide that has low volatile organic compounds (VOCs) and aligns with sustainability goals is contributing to the growth of the market. Besides this, the rising employment of aluminum hydroxide as a flame retardant in electronic devices to improve the fire safety of electronic components and appliances is bolstering the market growth.
In addition, the increasing adoption of aluminum hydroxide in the cosmetic industry as a thickening agent and to adjust the potential of hydrogen (pH) formulations is propelling the growth of the market. The growing demand for effective remedies for digestive discomfort among people is also offering a positive market outlook.
Global Aluminum Hydroxide Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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.
The report segmented the market on the basis of region, grade, form and application.
Breakup by Grade:
- Industrial Grade
- Pharmaceutical Grade
Breakup by Form:
- Powder
- Gel
Breakup by Application:
- Plastics
- Pharmaceuticals
- Coatings
- Adhesives, Sealants and Elastomers
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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