Aluminum Oxide Market
The global aluminum oxide market is expected to exhibit a strong 6.68% CAGR over the forecast period from 2019 to 2030, according to the latest research report from Market Research Future (MRFR). The global aluminum oxide market is expected to reach a valuation of USD 70,511.7 million by 2030, according to the report from MRFR. The report contains a detailed profile on the global aluminum oxide market, including a study of the market’s leading drivers and restraints and major player. The economic environment of the aluminum oxide market is also assessed in the report to provide context to the driver and restraint analysis.
Aluminum oxide, also known as alumina, has widespread industrial usage, including in electronics, manufacturing, medical, and pharmaceuticals. The material is one of the most abundant on earth and is widely mined in various forms. Growing demand for rechargeable batteries is a major end-use avenue for the aluminum oxide market, as the demand for rechargeable batteries is likely to increase in the coming years due to the increasing demand for electric power in various sectors.
Growing demand from the construction industry is also likely to remain a major driver for the aluminum oxide market due to the growing prospects of the industry in developing Asia Pacific markets. Growing residential as well as infrastructural construction has driven the demand for aluminum oxide in Asia Pacific, making it a leading regional market for aluminum oxide. Aluminum oxide is also used in personal care products such as sun care creams and body lotions. This is also likely to be a major driver for the global aluminum oxide market.
Aluminum Oxide Market Competitive Analysis:
Leading players in the global aluminum oxide market include American Elements, Choice Organochem LLP, Illinois Valley Minerals LLC, Washington Mills, Tirupati Industries (India) Ltd., Almatis GmbH, Rusal, Cabot Corporation, Morgan Advanced Materials plc, and Sasol Limited. A detailed review of the competitive landscape of the aluminum oxide market is provided in the report with detailed profiles of the leading players. Their competitive strategies are also examined in the report, providing readers a comprehensive overview of the competitive landscape of the market.
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Aluminum Oxide Market Segmentation:
The global aluminum oxide market is segmented on the basis of structural form, end use, purity, and region.
The global aluminum oxide market is segmented into nanoparticles, powder, pellets, tablets, and sputtering targets. The powder form is likely to dominate the global aluminum oxide market over the forecast period due to its easy usability and transportability.
By end use, the global aluminum oxide market is segmented into electronics, industrial manufacturing, medical, pharmaceutical, and others. The electronics segment is expected to hold a dominant share in the global aluminum oxide market due to the widespread use of aluminum oxide in lithium-ion batteries, hybrid cars, photovoltaic cells, LED lighting, and more. The segment accounted for 53.5% of the global aluminum oxide market in 2018 and is expected to register a strong 6.76% CAGR over the forecast period.
By purity, the global aluminum oxide market is segmented into 2N, 3N, 4N, 5N, and 6N, with the highest 6N aluminum oxide having the highest purity of 99.9999%. The 4N segment accounts for the dominant share in the global aluminum oxide market, holding 47.9% of the market in 2018. The widespread use of 4N aluminum oxide in pharmaceutical applications is likely to be a key driver for the global aluminum oxide market.
Aluminum Oxide Market Regional Analysis:
Asia Pacific is the major revenue generator in the global aluminum oxide market, with the region accounting for more than 50% of the global market in 2018 and projected to exhibit a 7.21% CAGR over the forecast period. Rapid industrialization in the region has been a major driver for the aluminum oxide market. China is the regional leader and is expected to grow at a strong 7.83% over the forecast period.
North America is the second largest regional market for aluminum oxide, followed by Europe.
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