The global aluminum hydroxide market is expected to reach a valuation of USD 2.8 Billion, exhibiting a CAGR of 5% over the forecast period 2022 to 2032. In 2022, sales of aluminum hydroxide reached USD 1.5 Billion.
Aluminum hydroxide is used as a filler in flame retardants, which are used to enhance the inherent properties of plastics and polymers. Increasing usage of plastics and polymers in the industrial sector will steer sales in the market.
In addition to this, rising increasing consumption of plastics and polymers in fire hydrants will create opportunities for growth in the market. On the back of the aforementioned factors, demand in the aluminum hydroxide market is expected to burgeon over the upcoming decade.
| Report Attribute | Details |
|---|---|
| Aluminum Hydroxide Market Size (2022) | USD 1.5 billion |
| Aluminum Hydroxide Market Size (2032) | USD 2.8 billion |
| Aluminum Hydroxide Market Projected Growth Rate (2022 to 2032) | 5% CAGR |
Aluminum hydroxide, also known as aluminum trihydrate, is a key component used in the production of diverse aluminum-based compounds such as aluminum chlorides, zeolites, aluminum oxide among others.
Aluminum hydroxide is also used as a flocculent in water purification process, as an adsorbent or desiccant in gas purification, and in the formulation of antacids owing to its basic properties.
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Rising prevalence of acidity across the globe is increasing the demand for antacids, thereby boosting sales of aluminum hydroxide in the global market. Hence, surging application of aluminum hydroxide in the formulation of antacids due to its functional properties is propelling the growth in the market.
Elevated levels of water pollution and concern over the environment has heightened the focus on wastewater treatment. Aluminum hydroxide is used in various water purification processes. Thus, increasing water pollution will also spur demand for aluminum hydroxide over the coming decade.
Further, rapid growth in textiles, cosmetics, chemicals, and paper and ink industries is another factor facilitating the growth in the aluminum hydroxide market. Due to its functional properties, aluminum hydroxide is used in the manufacturing of various beauty products, textile products, in the production of chemicals, paper and ink.
One of the key factors hampering the demand in the market is high availability of alternative products such as magnesium hydroxide. Low-cost and easy availability of alternatives is anticipated to limit sales of magnesium hydroxide. Additionally, rising health risks, due to exposure to aluminum hydroxide, will also restrict growth to an extent.
Over the past decade, Asia Pacific has seen rapid growth in the chemicals and pharmaceutical industries. Growing consumption of cosmetics and personal care products is one of the key factors aiding the growth in the chemical industry.
Within the Asia Pacific market, China is expected to account for a dominant share.. Due to the presence of one of the world’s largest chemical markets, China wields a powerful impact on regional market.
Further, favorable policies in the pharmaceutical industry is increasing the adoption of aluminum hydroxide in China. This is expected to further bolster the demand in the Asia Pacific market.
Middle East and Africa is set to witness significant growth in aluminum hydroxide market. Growing presence of multiple industries and similar activities in Africa along with rising wastewater treatment activities in Middle East will increase market potential for aluminum hydroxide.
Chemical and pharmaceutical industries are also taking space in Middle East and Africa. Growing use of polymers and plastics, high demand for fire retardants are also expected to drive the growth in the aluminum hydroxide market in Middle East and Africa.
Some of the key players in the global aluminum hydroxide market are Magxid Fine Chem, Sumitomo Chemical Co., Ltd., Albemarle Corporation, Radhaji Pharma Chem, P J Chemicals, Avanschem, Showa Denko, Nabeltec AG, Huber Engineered Materials, Nashtec LLC, MAL Hungarian Aluminum and Hindalco Chemicals among others.
Aluminum hydroxide is a fairly competitive market. Leading companies are investing in research and development activities to build their existing product portfolios, while others are seeking to increase their manufacturing capacities in order to meet the surging demand for aluminum hydroxide.
| Report Attribute | Details |
|---|---|
| Growth Rate | 5% CAGR from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Grade, Form, Application, End User, Region |
| Countries Covered |
North America (USA, Canada), Latin America (Mexico, Brazil, Argentina, Chile, Peru), Western Europe (Germany, Italy, France, UK, Spain, BENELUX, Nordics), Eastern Europe (Russia, Poland, CIS), Asia-Pacific (China, India, ASEAN, South Korea), Japan, Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel) |
| Key Companies Profiled |
Magxid Fine Chem; Sumitomo Chemical Co., Ltd.; Albemarle Corporation; Radhaji Pharma Chem; P J Chemicals; Avanschem; Showa Denko; Nabeltec AG; Huber Engineered Materials; Nashtec LLC; MAL Hungarian Aluminium; Hindalco Chemicals |
| Customization | Available Upon Request |
The global aluminum hydroxide market is expected to grow at a steady 5% CAGR until 2032.
Magxid Fine Chem, Sumitomo Chemical Co., Ltd., Albemarle Corporation, Radhaji Pharma Chem, P J Chemicals, Avanschem, Showa Denko, Nabeltec AG, Huber Engineered Materials, Nashtec LLC, MAL Hungarian Aluminum and Hindalco Chemicals are some of the major players in the aluminum hydroxide market
Asia Pacific is expected to lead the global aluminum hydroxide market owing to ongoing expansion in the chemical and pharmaceutical sectors in China.
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Aluminum Hydroxide Market
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