Aluminum Hydroxide Market Analysis :
Aluminum hydroxide, also known as hydrate alumina or trihydrate aluminum, is a basic inorganic, white colored, powered compound, which is of an amphoteric nature. Aluminum hydroxide is found in nature in the form of mineral gibbsite. It is one of the key components in aluminum ore, i.e., bauxite. The freshly precipitated aluminum hydroxide occurs in the form of gel. Industrially, aluminum hydroxide is produced by the Bayer's process, and is used as a raw material for the production of various aluminum-based compounds such as aluminum chlorides, zeolites, and aluminum oxide. Owing to its properties such as lightweight and fire resistance, it is widely used in many end-user industries such as automotive and transportation, construction, and electrical and electronics.
Key drivers of global aluminum hydroxide market
Polymers and plastics play a crucial role in increasing the durability and enhancing the characteristics of various additives of plastic & polymers such as flame-retardant chemicals, fillers & coatings, adhesives, and elastomers. In addition, surge in demand for lightweight and fire-resistant products in the automotive industry—to provide increased design flexibility—is responsible for the growth of the aluminum hydroxide market. Moreover, increase in consumption of plastics & polymers is fueling the demand for fire retardants, as plastics & polymers are more prone to fire and aluminum hydroxide being a major fire retardant acts as a prime factor driving the growth of market.
Market scenario: opportunities and challenges
The global aluminum hydroxide market is growing at a significant pace, owing to factors such as upsurge in the demand from the flame retardant in automotive industries. Furthermore, rise in demand of aluminum hydroxide in painting and coating industries due to its cost-effectiveness is expected to fuel the global market growth. However, increase in adoption of alternative products such as magnesium hydroxide is expected to restrain the growth of the market. In addition, increase in health risks, due to exposure to aluminum hydroxide, is anticipated to hinder the growth of the market.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global aluminum hydroxide market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the production activities. In addition, recent decline in the growth of the plastic industry is one of the key factors that is likely to negatively impact the growth of aluminum hydroxide market. Furthermore, companies are dealing with missing sales and disrupted supply chains, as production activities are ceased. However, the use of aluminum hydroxide in formulation of antacids, due to its basic properties, is expected to fuel the market growth during the forecast period.
Key benefits of the report
- This study presents the analytical depiction of the global aluminum hydroxide industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global aluminum hydroxide market share.
- The current market is quantitatively analyzed to highlight the global aluminum hydroxide market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global aluminum hydroxide market research report
- Which are the leading market players active in the global aluminum hydroxide market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Aluminum Hydroxide Market Report Highlights
Key Market Players
Avanschem, P J Chemicals, Albemarle Corporation, Huber Engineered Materials, Nabeltec AG, Sumitomo Chemical Co., Ltd., Radhaji Pharma Chem, Showa Denko, Nashtec LLC, Magxid Fine Chem