The Global Aluminum Oxide Market is expected to reach USD 57.97 billion by 2028, growing at a CAGR of 4.1% during the forecast period. The increasing demand from the pharmaceutical and industrial manufacturing sector and growth in the manufacturing of porous ceramics is expected to drive this market during the forecast period.
Aluminum Oxide Market
Aluminum oxide (Al2O3), more frequently known as alumina, is widely used in a host of industrial and scientific applications. Aluminum oxide very strongly mirrors natural corundum properties when it occurs in a crystalline form, with the characteristic property of extraordinary hardness. Aluminum finds wide applications as abrasive materials being extremely hard, and its marked resistance to any acid or base at high temperatures makes it suitable for refractory manufacturing. The aluminum oxide market is growing, driven by a large amount of emerging aluminum oxide applications in the ceramics and electronics industry. High heat conductivity and ductility make it prominent for thermal test machine instruments. Due to exemplary biomaterial property, the aluminum oxide market is also witnessing the increasing demand in the pharmaceutical industry and medical transplants.
The pharmaceutical industry is the major end-user of aluminum oxide. In the medical sector, aluminum oxide is mainly used in transplants, in the making of dental cement and hemodialysis. As a result of the continuous increase in the number of health and dental issues, there has been a substantial increase in demand for such treatments, mainly due to the increase in the aging population. As a result, aluminum oxide market demand and consumption in the healthcare industry have risen. Besides, the demand for aluminum oxide in the medical and pharmaceutical sectors in the Asia-Pacific and Middle East countries has risen further from the medical and pharmaceutical sectors. Countries like India, South Korea, and the ASEAN region have seen significant investment in the region's medical and pharmaceutical industry, which is expected to deliver vigorous growth to the aluminum oxide market being studied. Due to the rapidly growing number of the region's aging population and heavy demand for medical assistance, the demand for medical and pharmaceutical products is high in North America. Moreover, to develop non-oil industries to reduce excess dependence on the oil sector, the Middle East countries rely primarily on the healthcare industry's growth. In the coming years, this is expected to provide robust aluminum oxide market demand from the region's medical industry.
Aluminum Oxide Market
In 2018, Asia-Pacific dominated the global aluminum oxide market presence. Increasing investment and production in end-user sectors such as medical & pharmaceutical, electronics, industrial production, etc. are stimulating the region's demand for aluminum oxide. China has the world's biggest manufacturing capacity and is the world's biggest manufacturer of electronics. Not only does the nation support national demand, but it also caters to the demands in global economies. As a result, with increasing demand for electronic products and electronic products globally, electronic production is also increasing in China. Besides, there is also a significant rise in demand for aluminum oxide market in countries such as India, South Korea, and Japan. In India and South Korea, the demand for aluminum oxide market is driven by investment in the healthcare and electronics industry, pharmaceutical production, and increasing ceramic demand and production. While Japan's domestic pharmaceutical industry is robust and continually invests considerable funds & time in the research, developments, and advertising of industrial, electronic, and pharmaceutical products, drive the country's demand for aluminum oxide to be supplied to the products of such industries. Thus, all such factors are anticipated to fuel the demand during the forecast period for the aluminum oxide market studied in the region.
Key Factors Impacting Market Growth:
- Increasing demand in the medical sector due to increasing senescent population
- Increasing demand in the electronics industry due to uses of alumina ore in a wide array of application
- Rising concerns due to the toxic nature of the aluminum oxide
Aluminum Oxide Market - Key Developments:
- In 2014, INEOS Enterprises completed the acquisition of Sasol Solvents Germany GmbH assets and the associated business at Sasol’s sites in Moers, Herne.
- In 2015, Oyak took leading position in the world alumina industry by buying Dutch company Almatis. Oyak announced that it signed a share transfer agreement with Almatis and the products of the company, which are used in the iron and steel, cement, ceramic, automotive and electronic industries.
What Does This Report Provide?
This report provides a detailed understanding of the global aluminum oxide market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
By End User:
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Region (South America, Africa)
Companies Covered: Sasol Limited, Nivaka Pharmaceuticals Industries, MTC Wesgo, Snam Abrasives Pvt. Ltd., Tirupati Industries, Khambhalay Abrasive, Chemicals India Company, and Almatis.
Years Considered In The Study
CAGR % (2019-2028)
Reasons To Buy This Report:
- Market size estimation of the global aluminum oxide market on a regional and global basis
- The unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
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