Alumina Trihydrate Market to cross USD 7.6 Billion by 2032, Says Global Market Insights inc.
Alumina Trihydrate Industry size is expected to register 6.5% CAGR between 2024 and 2032 propelled by increasing stringency of fire safety regulations.
Selbyville, Delaware , Aug. 15, 2024 (GLOBE NEWSWIRE) — Alumina Trihydrate Market is anticipated to reach USD 7.6 billion by 2032, as per a
Asia Pacific to emerge as a lucrative market
Asia Pacific alumina trihydrate market will register significant growth from 2024 to 2032 attributed to rapid industrialization and urbanization. The expanding industries across the region are necessitating refractory materials, further increasing the use of alumina trihydrate in building materials. The rise in electronics manufacturing, especially in China, Japan and South Korea, has also created a need for more efficient flame retardants for electronic components and cables. Rapid population growth and rising health standards are driving the higher use of chemicals, further pushing the product demand in anti-acid options.
Alumina Trihydrate Market Participants
Albemarle Corporation, TOR Minerals International, Alfa Aesar, Sumitomo Chemical Company, Limited, Almatis, Showa Denko K.K., Alumina Limited, Shandong Aluminium Industry Co., Ltd., Aluminium Corporation of China (Chalco), Chemours Company, Rio Tinto Alcan, Huber Engineered Materials, ICL Group, Nippon Light Metal Company, Ltd., and Nabaltec AG are some major alumina trihydrate market contenders. These players are working on new product developments, collaborations, and mergers to increase their product portfolio. For instance, in May 2023, U.S. Silica Holdings, Inc. introduced EverWhite®, a high-white pigment for coatings and building products, to be used alongside titanium dioxide and aluminum trihydrate.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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