According to Future Market Insights, the global colloidal alumina market is expected to reach a valuation of US$ 879 million as of 2023. During the 2023 to 2033 forecast period, sales of colloidal alumina are expected to flourish at a CAGR of 6.5% and garner a market value of US$ 1,650 million by 2033. The growth of the market can be attributed to:
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | US$ 879 million |
| Projected Market Value (2033) | US$ 1,650 million |
| Growth Rate (2023 to 2033) | 6.5% CAGR |
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The North America colloidal alumina market is expected to experience steady growth in the coming years. The region is home to some of the world's largest manufacturers of colloidal alumina, which supply the material to various industries, including electronics, automotive, aerospace, and medical.
The demand for colloidal alumina in North America is driven by the growing demand for electronic devices and the need for high-performance ceramics in the automotive and aerospace industries. Additionally, the region's growing chemical industry is driving the demand for colloidal alumina as a catalyst support material.
The United States is the largest market for colloidal alumina in North America, with a significant share of the market attributed to the country's large chemical and electronics industries. The country's well-established research and development capabilities have also led to the development of new applications for colloidal alumina, which is expected to drive further growth in the market.
Canada and Mexico are also expected to contribute to the growth of the colloidal alumina market in North America. Canada's large automotive industry and Mexico's growing electronics industry are expected to drive demand for colloidal alumina in these countries.
The electronics industry is expected to continue growing, driven by the increasing demand for electronic devices such as smartphones, laptops, and televisions. Colloidal alumina is used in the production of electronic ceramics, which are used in various electronic components, such as capacitors and semiconductors.
The demand for high-quality polishing materials is expected to increase in various industries such as aerospace, automotive, and medical. Colloidal alumina is widely used as a polishing material in these industries due to its excellent polishing properties.
Colloidal alumina is widely used as a catalyst support material in the chemical industry. The growth of the chemical industry, particularly in emerging economies, is driving the demand for colloidal alumina as a catalyst support material.
Advancements in technology are expected to improve the production process of colloidal alumina, leading to increased efficiency, cost-effectiveness, and improved quality of the product. This is expected to attract more customers toward colloidal alumina, thereby driving the market growth.
The increasing interest in nanotechnology is expected to drive the growth of the colloidal alumina market. Colloidal alumina is a type of nanomaterial, which is expected to find new applications in various industries, such as healthcare and energy. Overall, the future of the colloidal alumina market looks promising, with expected growth driven by increasing demand from various industries, technological advancements, and growing interest in nanotechnology.
Principal Consultant
According to the latest research by Future Market Insights, the colloidal alumina market is set to witness stable growth, registering a CAGR of 2.2% for the period of 2021 to 2024.
Demand for this product will be witnessing an increase across all major regional markets. Due to the novel applications of alumina, the market for this product is set to grow at a modest pace during the forecast period.
The rising industrialization and macroeconomic growth across Eastern Europe and APAC, has given a major boost to the construction industry, which in turn has resulted in surging demand for high quality products such as glass, specialty steel, etc. Metallurgy continues to be a lucrative avenue for colloidal alumina manufacturers.
The market is observing a trend of shifting of alumina production to the Asia-Pacific region. This can be correlated to the rising production of bauxite in the region, which serves as the primary raw material for alumina production. Countries like Indonesia, Australia, China, Malaysia, and India are involved in the high volume production of bauxite, which would boost their production of alumina in the region.
Also, the high-volume of steel production and consumption in countries such as Russia, India, China, U.S.A, and United Kingdom would further drive the demand for alumina at the primary refractory level, thus providing growth stimulus to the market.
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Substantial end-user demand for high-specialty alumina in refractories and the requirement for improved substrates used in various end-use industries continue to drive demand for colloidal alumina. Alumina is available in two grades namely, chemical and metallurgical. The former is used in the manufacturing of ceramics, refractories, glass, etc. hence the high demand.
The USA accounts for a substantial share of the overall market. Alumina sales in the region are quite high and make up a high portion of the global market size. Colloidal alumina is a potential binding agent that can replace the traditional refractory castable binders and hence the population has resorted to valuing this commodity.
The markets in both USA and Europe felt a significant impact owing to the COVID-19 pandemic, with large-scale disruption to industrial activities. The resulting slump led to a prominent slowdown in the market for multiple quarters. However, the economies are now opening up at a steady pace and market recovery can be expected to start in the second quarter of 2021.
An increase in the demand for the product is forecasted for China as well, given it is the most prominent consumer of the product in the world. The growing need for this product from large-scale aluminum smelters leads to significant growth in the market.
The country has been quick to open up its industry after the pandemic was brought under control in the latter part of 2020 and has since begun to stimulate the economy back to pre-pandemic levels.
Some of the leading manufacturers and suppliers of colloidal alumina include
Almatis is a supplier and manufacturer of alumina and alumina-based products. It is a leading supplier of alumina and alumina-based products for the ceramics market, globally. AluChem focuses on manufacturing high-quality alumina products. The company offers AC99 tabular alumina available at ultra-low or low soda, de-dusted, and de-ironed packages.
Whereas, Bisley & Company offers products that range from fine chemicals for specialized applications to alloys and bulk metals delivered to major smelters and steel mills. It is one of the prominent manufacturers of tabular alumina, globally. Its tabular alumina comprises large 50 to 200 µm flaky elementary crystals, and thus, it is called sintered α-alumina.
KT Refractories manufactures tabular alumina which has smooth, long-lasting, thermal shock properties and good resistance to abrasive and mechanical actions found in high chemical purity and catalyst support systems.
Possehl Erzkontor’s portfolio includes almost all synthetic and natural industrial raw materials with a focus on sectors such as metallurgical refractory and chemical industries.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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