Market Overview 2022-2027:
According to the global aluminum hydroxide market report by IMARC Group, the market reached a value of US$ 1.78 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.46 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
Industry Definition and Application:
Aluminum hydroxide, or trihydrate aluminum, represents an insoluble, white-colored inorganic amphoteric compound found naturally in the form of mineral gibbsite. It acts as an intermediary in the manufacturing of various aluminum-based compounds, such as zeolites, aluminum oxide, magnesium hydroxide, etc. Aluminum hydroxide is light in weight and fire-resistant in nature, on account of which it is extensively utilized for producing drugs, plastics, elastomers, sealants, adhesives, etc. Apart from this, it has a neutral pH level, making it an ideal component for formulating several cosmetic products.
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Market Trends:
The widespread product adoption across the manufacturing, chemical, automotive, electronics, transportation, and pharmaceutical sectors is primarily driving the aluminum hydroxide market. Apart from this, the inflating need for fire-retardant plastics and polymers as coatings and fillers is further catalyzing the market growth.
Moreover, the escalating incidences of various chronic diseases, especially among the geriatric population, are also positively influencing the global market. In line with this, aluminum hydroxide is extensively used in medications to treat ailments, such as heartburn and gastroesophageal reflux, which is acting as another significant growth-inducing factor.
Furthermore, the shifting inclination in the electronics sector towards halogenic materials for insulation purposes is anticipated to fuel the aluminum hydroxide market over the forecasted period.
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Key Market Segmentation:
The report has been segmented the market into following categories:
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 Geography:
- 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
Competitive Landscape with Key Player:
- Akrochem Corporation
- Hindalco Industries Limited (Aditya Birla Group)
- J.M. Huber Corporation
- Nabaltec AG
- Nippon Light Metal Holdings Co. Ltd.
- Albemarle Corporation
- American Elements
- Bisley Company Pty Ltd.
- Showa Denko K. K.
- Sibelco
- Sumitomo Chemical Co. Ltd.
- TOR Minerals International Inc
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