Polishing Grade Alumina Market Size, Share, Growth, And Industry Analysis, By Type (Very Soft Type, Soft Type, Medium Type, and Hard Type), By Application (Metal Polishing, Paint Polishing, Brake Pads, Alumina Slurry, and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Report Overview

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The Global polishing grade alumina market size was USD 347.1 million in 2022. As per our research, the market is expected to reach USD 436.7 million by 2028, exhibiting a CAGR of 3.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the polishing grade alumina market growth and demand returning to pre-pandemic levels once the pandemic is over.

A high-purity type of aluminum oxide called polishing grade alumina is utilized in various industrial applications, primarily in the polishing and abrasive sector. This amazing substance is frequently used to create a smooth, shining surface on various surfaces, including metals, ceramics, and glass. Various varieties of polishing grade alumina are on the market, each having special qualities and uses. Calcined alumina is one type created by heating alumina hydrate to a high temperature. This alumina is frequently used to polish metals and ceramics because it has great cutting characteristics.

Fused alumina is a different kind created by melting alumina in an electric arc furnace. Because of its high strength and hardness, fused alumina is a great choice for demanding polishing and grinding tasks. In the automobile sector, it is frequently used to polish metal surfaces. The last type of alumina is colloidal alumina, which comprises water and incredibly small alumina particles. This alumina is used to precisely polish and finish fragile objects like semiconductor wafers, optical lenses, and other materials. In businesses where precision is essential, colloidal alumina offers greater surface quality and is highly sought after.

COVID-19 Impact: Global Economy Experiencing A Downturn due to Lockdown Hampered the Market Growth

Polishing grade alumina market has been significantly impacted by the Covid-19 pandemic, which has drawn the attention of specialists and enthusiasts. The demand has been impacted by the global economy's downturn brought on by travel bans and lockdown measures. There is a bright side to this circumstance, though. There will be a spike in demand for the product when manufacturing and construction activity takes up as businesses and industries recover from the epidemic.

Latest Trends

"Increased Usage in the Electronics Industry to Boost the Market Expansion"

The use of polishing grade alumina in the electronics industry is one of the most recent trends that has swept the market. Its excellent qualities, including great purity and hardness, make it the perfect material for polishing electrical components. The market has significantly grown as a result, and it is predicted to rise much more in the upcoming years.

Segmentation

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• By Type Analysis

Based on the type, market can be segmented into very soft type, soft type, medium type, and hard type. Among these, the very soft type is projected to experience rapid growth through 2028.

• By Application Analysis

Based on the application, market into metal polishing, paint polishing, brake pads, alumina slurry, and others. Metal polishing is expected to hold the most significant polishing grade alumina market share in the upcoming years.

Driving Factors

"Increasing Demand for High-Quality Polishing Material to Propel the Market Expansion"

The demand for high-quality polishing materials in various sectors is the foremost reason driving the market forward. Due to the surge in technological breakthroughs, manufacturers are continually looking for materials that can give their products a better finish. Due to its high hardness and resistance to abrasion, Grade Alumina for polishing proved to be the ideal choice.

"Awareness About The Benefits Of Using Eco-Friendly Materials And The Booming Automobile Industry to Fuel the Market Growth"

The expanding automotive sector is a significant market driver for polishing grade alumina. Automobile manufacturers mainly rely on polishing materials like alumina to build vehicles with immaculate surfaces. As a result, demand has significantly increased because of its superior performance and resilience. Additionally, this market has expanded due to rising environmental consciousness about the advantages of utilizing eco-friendly materials. As sustainability becomes more important to businesses and customers, they are looking for alternatives to conventional polishing materials that are bad for the environment. Because Grade Alumina is non-toxic and recyclable, polishing with it becomes a realistic choice.

Restraining Factor

"Increasing Competition in the Market and Rising Cost to Hinder the Market Growth"

The fiercer market competitiveness is one of the biggest obstacles. Companies find maintaining their market share and profitability challenging as new players enter the business. This market is also significantly challenged by the growing production and raw materials costs. The requirement for pricey inputs and the demand for high-quality alumina also rise, which might reduce profit margins.

Regional Insights

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"North America to Dominate Market due to the Increasing Demand for High-Quality Polishing Materials"

North America to dominate hold the largest share of market. Factors driving the market growth in this region include the increasing demand for high-quality polishing materials in various industries. The growing awareness about the benefits of using eco-friendly materials and the booming automobile industry fuels market expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage in the Market"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Almatis (Germany)
• Alteo (France)
• Sumitomo Chemical (Japan)
• Showa Denko (Japan)
• CHALCO (China)
• Hindalco (India)
• Jingang (Canada)
• Nabaltec (Germany)
• Motim (New Zealand)
• Huber Corporation (U.S.)
• Shandong Aopeng (China)
• ICA (Belgium)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.