VALLEY COTTAGE, N.Y., April 11, 2016 (GLOBE NEWSWIRE) -- Future Market Insights (FMI) delivers key insights on the alumina trihydrate market in its latest report titled, “Alumina Trihydrate Market: Global Industry Analysis and Opportunity Assessment, 2016 - 2026”. According to the report, the global alumina trihydrate market revenues are projected to expand at a CAGR of 5.7% during 2016-2026.
Alumina trihydrate (ATH) is used in manufacture of glass, ceramics, paints & coatings, etc. It finds major application as a flame retardant and smoke suppressant in materials due to its ability to release water of crystallisation as water vapour when heated above 220°C.
Alumina trihydrate is commercially available in the market for a number of applications such as waterproofing, furniture and tapestry production. Alumina trihydrate is available in multiple grades—coarse, precipitated, chemically treated and superfine. Depending on the application and customised demand from end-user industries, these grades and particle sizes can be modified.
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Alumina trihydrate also finds major application in polyester and polymer resins as low-smoke, non-toxic replacement for latex, rubber, wires & cables and floorings. Major end-use industries that use alumina trihydrate are plastics, paper, paints & coatings, adhesives, chemicals, and pharmaceuticals.
Factors Driving the Alumina Trihydrate Market
Key driving factors identified in the global alumina trihydrate market include increasing growth of flame retardant plastics in industrial sectors such as automotive and construction in emerging markets and increasing use of alumina trihydrate in chemical applications.
Increasing use of alumina trihydrate as flame retardant as well as a filler in adhesives and paints & coatings industry is expected to drive growth of the alumina trihydrate market over the forecast period. Increasing use of alumina trihydrate (alum) in water treatment are expected to fuel growth of the overall global alumina trihydrate market during the forecast period.
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Demand for ultra-fine alumina trihydrate as flame retardant is a major underlying factor anticipated to fuel growth of the global alumina trihydrate market between 2016 and 2026. This, in turn, is forecast to create significant market opportunities for alumina trihydrate manufacturers, distributors and product assemblers in the coming years. Demand for alumina trihydrate is especially high in emerging market such as India, China, and Brazil.
Alumina Trihydrate Market Segmentation
The global alumina trihydrate market is segmented on the basis of end-use industry and region. The end-use industry segment is further segmented into plastics, paper, paints & coatings, adhesives, chemicals, pharmaceuticals and others. Key regions covered in the report are North America, Western Europe, Asia Pacific excluding Japan, Eastern Europe, Middle East & Africa, Latin America and Japan.
On the basis of regions, APEJ is estimated to be the largest market for alumina trihydrate, accounting for 27.1% value share of the global alumina trihydrate market in 2016. This region continues to dominate the market and is expected to continue to do so over the forecast period.
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On the basis of end-use industry, the chemicals and plastics industry segments are projected to exhibit CAGRs of 6.9% and 5.2%, respectively, in terms of market value over the forecast period. This is primarily owing to the increasing utilisation of alumina trihydrate for water treatment as well as flame retardants.
Key market participants covered in the report include Alfa Aesar, Sumitomo Co. Ltd., Albemarle Corporation, Nabaltec AG, Huber Engineered Materials, Showa Denko K.K., NALCO, MAL Zrt, Alcoa Inc. and Aluminum Corp. of China Ltd.
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Source: Future Market Insights