Boehmite Market Size, Share, Growth, Global Industry Analysis, By Type (High Purity Boehmite and Others (Purity Below 99.0%), By Application (Batteries, Electronic Ceramics, and Flame Retardants), Regional Insights, and Forecast From 2024 To 2032

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BOEHMITE MARKET REPORT OVERVIEW

The global boehmite market size was USD 0.16 billion in 2023 and is projected to hit USD 2.13 billion by 2032 and exhibit a CAGR of 30.4% during the forecast period. In the market study, our analysts have considered  boehmite players such as Zhengzhou Research Institute of Chalco, AnHui Estone Material Technology, Sasol, Nabaltec, TOR Minerals, Kawai Lime Industry, TAIMEI Chemicals, Dequenne Chimie, Osang Group, Silkem, Xuancheng Jingrui New Materials, Tianjin Boyuan New Materials, PIDC, Shandong Jirun Nano New Materials, KC Corporation.

Boehmite or böhmite is a type of high-temperature-resistant aluminum oxide hydroxide mineral and is a crucial part of bauxite. Böhmite is generally white in color but may exhibit yellow, red, brown, and green tinges due to impurities. It is widely used as a carrier material in catalytic converters and in printed circuit boards as a flame retardant due to its long life, high thermal stability, high heat shrink-ability, and chemical stability.

The development of the electronics industry is expected to fuel boehmite market size growth. It is also used as a separator in lithium-ion batteries. The increasing demand for electric and hybrid vehicles is expected to boost the development of the global boehmite market. Bohmite also finds its application in the construction industry as a refractory material used in glass and cement production. The worldwide rapid urbanization and industrialization is anticipated to augment the market growth in the forthcoming years.

COVID-19 IMPACT

"Businesses Resume Operations Amidst Pandemic Inflicted Dynamic Market Situations "

The unforeseen emergence of the coronavirus pandemic has severely impacted the global economic structure. The boehmite market has experienced a negative impact from the COVID-19 pandemic. The sudden spike in the CAGR is attributable to the boehmite market growth and demand returning to pre-pandemic levels once the pandemic is over.

The unexpected emergence of the coronavirus outbreak has stagnated the growth of several industries and markets, including the global boehmite market. The halted construction activities to the worldwide implementation of stringent lockdown and curfew restrictions have affected the growth of the market. The shutdown of production facilities due to these restrictions have negatively impacted the market growth. The disruptions in the global supply chain network due to the ban on global trade and halted air transport have aggravated the situation. The reduced demand for vehicles and reduced production of vehicles has resulted in a declined demand for böhmite. Nonetheless, nations around the globe have ramped up their vaccination drives to reverse the impact of the global pandemic. The market is slowly gaining traction and is likely to witness rapid growth post-pandemic.

LATEST TRENDS

"Boehmite Powder to be a Potential Adsorbent for Oilfield Produced Water Treatment"

The need for effective solid waste recycling has increased nowadays in order to protect the surrounding environment and human health. The rapid population growth has led to an increased waste generation rate globally. This encouraged researchers to focus on the valorization and recycling of aluminum cans. It was found that the high surface böhmite nanopowder recovered from aluminum cans is a feasible solution for the oilfield-generated water treatment. As all living organisms need water to survive, the growing water pollution levels need to be curbed. Hence, the use of böhmite powder as a potential adsorbent by the oil and gas industry is likely to foster growth for the market.

"Sol-Gel Derived Böhmite  Nanostructures to Transform Targeted Drug Delivery Systems"

Targeted drug delivery systems have gained immense popularity in the past decades. Sol-gel systems are considered to be one of the most effective drug delivery platforms in the healthcare industry. Böhmite nanostructures are being tested to treat various kinds of tumors, Alzheimer’s disease, and others. Based on targeted protein delivery systems, the development of sol-gel-derived böhmite nanostructures can transform targeted drug delivery systems and benefit the global medical sector.

BOEHMITE MARKET SEGMENTATION

Based on type, the market bifurcates into high purity boehmite and others (purity below 99.0%). The high purity boehmite segment is anticipated to garner the highest growth in the market. Based on application, the market trifurcates into flame retardant, electronic ceramics, and batteries. Out of these, the batteries segment is likely to attract the highest growth. Geographically, the market is classified into five major regions- North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

DRIVING FACTORS

"Surging Demand for Hybrid & Electric Vehicles to Propel Market Growth"

The increasing government regulations to reduce carbon emissions have led to the increased adoption of electric and hybrid vehicles. The product provides high thermal stability, high heat shrink-ability, and chemical stability and is widely utilized as a coating in lithium battery separators. The rising demand for electric and hybrid vehicles is expected to bolster the global boehmite market growth. Additionally, the improving personal disposable income levels and living standards across developed and developing countries are anticipated to fuel the demand for vehicles and boost the market growth in the coming years.

"Increasing Urbanization and Industrialization to Stimulate Market Growth"

Bohomite is utilized by the construction industry as a refractory material in glass and cement production. The growing construction activities across developed and developing nations due to increasing urbanization and industrialization are anticipated to expand the market growth. Moreover, the expansion of the electronics industry is expected to propel the market growth due to the extensive use of the product in valve-regulated lead-acid (VRLA) batteries. VRLA batteries are widely used in renewable energy systems, automotive, telecommunication, and other industries due to their high reliability, safety, low cost, and improved energy efficiency.

RESTRAINING FACTORS

"High Costs of Processing Technology to Hinder Market Growth "

The processing technology costs are high for the product and are likely to hinder market growth in the forthcoming years.

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BOEHMITE MARKET REGIONAL INSIGHTS

"An Abundance of Raw Materials to Stimulate Growth in Asia Pacific"

Asia Pacific is projected to dominate the global boehmite market share with rapid growth in Korea, Japan, and China. The abundantly available raw material in the region coupled with cheap labor costs is expected to boost the market growth. The staggering growth of the automotive industry is expected to bolster the growth of the market due to the rising demand for electric and hybrid vehicles. Additionally, the key players present in the region, such as AnHui Estone Material Technology, CATL, and BYD, are anticipated to augment the market growth.

North America is anticipated to witness substantial growth in the global market. The increasing electrification of vehicles, the presence of high-income groups, and expanding electronics industry are projected to fuel the market growth.

Europe is expected to observe immense growth in the forthcoming years. Europe is the second-largest producer of böhmite in the world, and the increasing demand for electric vehicles in the region is expected to boost the market growth. Additionally, the favorable government initiatives to promote the adoption of clean energy and electric vehicles are predicted to propel the growth of the market.

Latin America and the Middle East & Africa are anticipated to witness considerable growth in the forthcoming years. The increasing adoption of electric and hybrid vehicles and the surging urbanization and industrialization are projected to garner growth for the market.

KEY INDUSTRY PLAYERS

"Key Players Reorganize their Operational Structures to Wade Through the Pandemic"

The key players in the market are focusing on resuming the production of böhmite amidst the dynamic market situations created by the pandemic. They are reorganizing their operational structures and logistical networks that were hampered by the pandemic. The high unemployment rates and the pandemic itself have severely impacted the growth of the market. To wade through the negative impact of the pandemic, the key players are likely to devise innovative growth strategies such as technological advancements, new product launches, mergers, acquisitions, partnerships, collaborations, and others to generate greater revenues and enhance their market positions.

LIST OF TOP BOEHMITE COMPANIES

• Zhengzhou Research Institute of Chalco
• AnHui Estone Material Technology
• Sasol
• Nabaltec
• TOR Minerals
• Kawai Lime Industry
• TAIMEI Chemicals
• Dequenne Chimie
• Osang Group
• Silkem
• Xuancheng Jingrui New Materials
• Tianjin Boyuan New Materials
• PIDC
• Shandong Jirun Nano New Materials
• KC Corporation

KEY INDUSTRY DEVELOPMENTS:

April 2021: Optodot Corporation received a patent for its new NanoPore Electrode Coated Separator (ECS) technology which can be utilized to manufacture 3D printed batteries.

REPORT COVERAGE

The global boehmite market report features a comprehensive assessment of the market and focuses on crucial factors, such as leading companies, end-users, applications, and components. Other than this, the report offers valuable insights into the current market trends and highlights the recent industry developments. In addition to the above-mentioned factors, the report envisages significant factors contributing to the market’s growth in recent years.