Aluminum Hydroxide Market Size to Grow by $ 672.37 mn through 2021-2025
Technavio research projects the aluminum hydroxide market to grow by $ 672.37 mn, accelerating at a CAGR of almost 4% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Aluminum Hydroxide Market: Key Market Driver
One of the primary factors that will trigger the growth of the aluminum hydroxide market size is increasing demand for antacids. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Aluminum Hydroxide Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alcoa Corp., Almatis BV, Aluminum Crop. of China Ltd., American Elements, Hindalco Industries Ltd., Kaiser Aluminum Corp., Nabaltec AG , Nippon Light Metal Holdings Co. Ltd., SHOWA DENKO K.K., and Sumitomo Chemical Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Technavio has been monitoring the global aluminum hydroxide market and it is expected to grow by USD 672.37 million progressing at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report
Key Trends to impact market growth
The increased demand from the flame retardants industry is one of the key aluminum hydroxide market trends, which will drive market growth during the forecast period. Aluminum hydroxide is extensively used for the manufacture of flame retardants for several applications in end-use industries, such as building and construction, electronics, and plastics and polymers. Aluminum hydroxide polyester resin provides equivalent fire retardancy at lower costs and produces considerably less smoke when exposed to combustible environments. The excellent flame retardancy of aluminum hydroxide is based on its endothermic decomposition into aluminum oxide and water. The demand for aluminum hydrogen flame retardants is expected to accelerate at a steady rate during the forecast period.
Top Driver to Boost Demand for Aluminum Hydroxide Market
The increasing demand for antacids is one of the key factors expected to fuel the aluminum hydroxide market growth in the forthcoming years. Antacids are increasingly being used to treat chronic conditions such as GERD. GERD is often caused by the backflow of stomach contents including gastric acid into the esophagus. The use of antacids, including aluminum hydroxide gel powder, offers quick relief from heartburn caused by gastroesophageal reflux disease and indigestion, in turn, increasing its demand in pharmaceutical preparation. As it is a highly neutralizing insoluble antacid with anti-proteolytic properties, aluminum hydroxide is used as an adjuvant in adsorbed vaccines. Using aluminum hydroxide increases the potency of vaccines and reduces the incidence of undesirable reactions by delaying the release of antigens.
Vendor Analysis: Alcoa Corp., Almatis BV and Aluminum Crop. of China Ltd. are key growth contributors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alcoa Corp., Almatis BV, Aluminum Crop. of China Ltd., American Elements, Hindalco Industries Ltd., Kaiser Aluminum Corp., Nabaltec AG , Nippon Light Metal Holdings Co. Ltd., SHOWA DENKO K.K., and Sumitomo Chemical Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
Aluminum Hydroxide Market: Key Highlights of the Report for 2021-2025
