Aluminum Oxide Market to Record CAGR Of More Than 4.5% During Forecast Period — Zion Market Research
According to the report, global demand for Aluminum Oxide market was valued at approximately USD 23.6 billion in 2019, and is expected to generate revenue of around USD 33.6 billion by end of 2026, growing at a CAGR of around 4.5 % between 2020 and 2026.
A few prominent players actively participating in the global aluminum oxide market consist of -
- Nivaka Pharmaceuticals Industries
- Sasol Limited
- Snam Abrasives Pvt. Ltd.
- MTC Wesgo
- Khambhalay Abrasive
- Tirupati Industries
- Almatis
- Chemicals India Company.
Extensive Demand From Several Industries To Boost The Market Growth
The global aluminum oxide market is majorly propelled by numerous applications in several industries like pharmaceutical, ceramic, electronics, and medical. The aluminum oxide, on account of its exclusive chemical and physical properties, is observing wide-ranging demand in several industrial manufacturing applications, thus driving the market growth. The escalating aluminum oxide demand within the ceramic industry to improve the thermal conductivity of porous ceramics materials is projected to drive the market growth. Also, the rising aluminum oxide demand in the medical filed as transplants is anticipated to drive the market in the coming years. Several uses of this compound as nanomaterials are likely to boost the market growth. Nevertheless, health issues owing to the exposure of aluminum oxide are anticipated to hamper the market growth. Though it doesn’t have a carcinogenic effect, temporary exposure is recognized to result in inflammation of eyes and respiratory tract infection, whereas continuing exposure might impact the central nervous system. However, continuous developments are being made to look at hopeful applications in the biotechnology and medical sectors as implantable biomaterials. This is projected to surface potential growth avenues for the market players in the coming period.
Based On Application, Aluminum Smelting Segment To Dominate The Market
The global aluminum oxide market is bifurcated based on structural form type, application, and region. the structural form type segment of the market is categorized into powder, nanoparticles, tablets, sputtering targets, and pellets. The application segment of the market is divided into abrasive, aluminum smelting, engineered ceramics, refractories, and aluminum chemicals. Among these, the largest share was captured by the aluminum smelting segment. Usually, aluminum oxide is utilized to manufacture aluminum with the smelting process, as almost 90% of the entire aluminum oxide generated is used in the aluminum smelting industry.
North America And Asia Pacific To Witness Substantial Growth During Forecast Period
Regionally, Asia Pacific and North America are the key aluminum oxide markets. A huge number of emerging and existing aluminum oxide applications in the medical and pharmaceutical sectors are driving the market growth in Asia Pacific. A major part of the aluminum oxide materials’ consumption comes from nations such as China and India. The considerable expansion of the market in North America can be credited to a huge array of applications within the ceramic industry.
The global aluminum oxide market is segmented as follows:
By Structural Form Type
- Powder
- Nanoparticles
- Tablets
- Sputtering Targets
- Pellets
By Application
- Abrasive
- Aluminum Smelting
- Engineered Ceramics
- Aluminum Chemicals
- Refractories
By Region
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us — after all — if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States Tel: +49–322 210 92714 USA/Canada Toll-Free №1–855–465–4651 Email: sales@zionmarketresearch.com Website: https://www.zionmarketresearch.com