The Global Aluminum Oxide Market will attain a value of USD 57.97 Billion by 2028, growing with a CAGR of 4.1% over the forecast period. The increasing demand for aluminum oxide from industrial manufacturing and pharmaceutical sector and development in the manufacturing of porous ceramics will drive this market over the predicted period.
Aluminum oxide, known as alumina, is a chemical compound. Aluminum oxide is soluble in water and is slightly soluble in acids and alkali as well. Aluminum oxide has found major applications in glass, filler, composite fiber, catalysis, abrasive, paint, purification, and abrasion protection. It has found application as a component in the cutting tool as well. Further, aluminum oxide has usage as a phosphate remover. It is a chemical compound of aluminum and oxygen and a commonly occurring oxide.
The commonly available types of aluminum oxide are pellets, tablets, powder, sputtering targets, and nanoparticles. Among these, nanoparticles have gained wide adoption than bulk materials for properties such as ductility, high electrical conductivity, and hardness of its alloys. Aluminum Oxide has applications in the medical sector in hemodialysis and in making dental cement. The growth of the pharmaceutical industry and the rising demand from other applications will boost the aluminum oxide market over the predicted period.
The global aluminum oxide market will witness substantial growth over the forecast period owing to the increasing demand for producing porous ceramics from the ceramic industry. The exposure to aluminum oxide can, however, cause many health problems, which may restrain the growth of the global aluminum oxide market to some extent.
Aluminum oxide is also used in plastics filters, paints, and for creating reflective decorative effects in paints. Another important use is the elimination of water from gas streams. In addition to this, aluminum oxide has usage in making spark plug insulators, tools for hip substitutes, and as a chromatography medium across sodium vapor lamp.
Rising applications of aluminum oxide as nanomaterials will substantially accentuate market growth in the coming years. However, health concerns associated with its exposure are a major factor that is expected to hamper the growth of the market over the forecast period. However, constant developments to discover promising applications in the biotechnology and medical industry as implantable biomaterials will create new opportunities for the market. In addition to this, advancements in manufacturing technologies have led to innovative applications in the ceramic industry, which will generate lucrative growth avenues over the forecast period.
Global Aluminum Oxide Market, By Type
Based on Form, the global market categorization includes nanoparticles, powder, pellets, tablets, and sputtering targets. The nanoparticles segment in the global aluminum oxide market has been witnessing increasing demand owing to the rising application of nanoparticles in various industries. It has wide usage due to its properties such as ductility and hardness of its alloys.
Global Aluminum Oxide Market, By End-Use Industry
Based on the end-user, the global market segmentation includes medical, pharmaceutical, industrial manufacturing, electronics, and others. With its unique chemical and physical properties, aluminum oxide is witnessing huge demand in several industrial and manufacturing applications, which is driving market demand.
The demand for aluminum oxide as porous ceramic materials has been increasing across the ceramic sector, in order to improve thermal conductivity. This will give a major boost to the growth of the industrial manufacturing segment over the coming years.
The growing demand for aluminum oxide for making transplants will increase its demand in the medical sector. This will fuel the medical segment’s growth throughout the predicted timeframe. The biomaterial acceptance of aluminum oxide has driven its usage in surgeries as well.
Global Aluminum Oxide Market, By Region
According to the regional scenario, the Asia Pacific and North America are leading markets for aluminum oxide. A large number of innovative and emerging applications of aluminum oxide in medical and pharmaceutical industries are boosting the Asia Pacific market. A major part of the demand for aluminum oxide materials comes from countries such as China and India. The significant growth of the North American market, on the other hand, is due to a large range of applications of aluminum oxide across the ceramic industry.
Key Market Developments
Some Key Findings of the Global Aluminum Oxide Market Report Include:
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