Reactive Alumina Market Report Overview
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The global reactive alumina market size is anticipated to be USD 823.7 million in 2022 and is projected to touch USD 1.223 billion by 2028, at a CAGR of 5.8% during the forecast period.
Reactive alumina is the aluminium oxide which is used in the production of high-performance, mechanically strong refractories. As one of the common oxides in refractory production, it is extensively used in heat insulation and as an adsorbent.
The upscaling of the infrastructure is predominantly a major focus point for many developed and developing nations. In light of the booming construction and automotive industry, it is creating opportunities for the growth of the refractory sector thus escalating the reactive alumina market.
COVID-19 Impact: Slowdown Growth of the End-user Industry to Hamper the Market Demand
The global COVID-19 pandemic has been unprecedented and staggering, with the reactive alumina market experiencing lower -than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The Pandemic harmed the growth of the reactive alumina industry. The spike in COVID-19 cases has led to the transformation and prioritizing of the healthcare sector. The sudden global lockdowns and shutting down of the manufacturing units hampered the process. Moreover, restrictions in global transportation caused the problem of shifting raw materials. The shortage of raw materials created an imbalance between supply and demand. The economic stagnation and other unavoidable circumstances led to the slow growth of the market. The normalization process has begun and the market is expected to bounce back due to the increasing demands and the start of high-scale production.
LATEST TRENDS
"Continuous Research and Developments to Propel the Market Demand"
The key players are investing high in research and development to improve the reactive alumina market share. The experimentation is being conducted to launch new products and enhance the efficiency of the products for integration into industrial uses. Reactive alumina is used in the formation of a matrix. In light of the recent development, in combination, the reactive alumina possesses improved rheological properties. The consistent research and application will drive the market in the forecasted year.
Reactive Alumina Market Segmentation
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- By Type
Based on type, the market is divided into powdered form reactive alumina and sphered form reactive alumina. The powdered form reactive alumina segment is expected to be the leading segment in the forecast period.
- By Application
Based on the application, the market is divided into fluoride adsorbent, desiccant, catalyst, refractory additives and others. The fluoride adsorbent segment is anticipated to lead the market in the upcoming years.
DRIVING FACTORS
"Demand from the Refractory Industry to Accelerate the Product Sale"
The refractory sector is witnessing immense growth owing to the capital investments and the strive towards infrastructure renovation. The refractory product can withstand high temperatures, chemical attacks and heat. Thus, it is used in the manufacturing of internal structures and high-temperature equipment. The improved supply chain logistic has acted as a catalyst in even the distribution of refractory products in the region. The diversification of the application of refractory products across industries is triggering the growth of market share. Reactive alumina possesses an impressive sinter reactivity, high temperature and water resistance. It plays a key role as a component of refractory additives. Corundum refractories contain the highest concentration of alumina and it is often used in chemical processes. The other application includes electric furnace roofs, blast furnaces and the heat insulating industry. Reactive alumina utilization in the production of high-performance refractories and the consistent growth of refractories industries will drive the reactive alumina market growth in the forecasted year.
"Diverse Application to Boost the Reactive alumina Market Demand"
The application of reactive alumina is not limited to the refractory market as constant research and developments are broadening the application base of the product. Reactive alumina has high strength and chemical inertness and is often used as a basic catalyst or support in the petrochemical and chemical sector. It has also been advantageous as a desiccant. It is extensively used as an adsorbent to remove fluoride from water, It provides a cost-effective option in the filtration process. The continuous diversification of the industrial application will contribute to the growth of reactive alumina market share in the upcoming years.
RESTRAINING FACTORS
"High Price of the Raw Materials to Hamper the Market Growth"
The availability and remote access of the raw material is a major concern for the reactive alumina industry. The pandemic triggered the situation as the supply logistic was affected which led to the increase in the prices of the raw material interrupting production. The stringent regulations imposed by the government on the long-term associated health disadvantages are a major restricting factor in the reactive alumina market growth. Moreover, the availability of other raw materials or products to act as a replacement has the potential to affect market growth.
Reactive Alumina Market Regional Insights
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"North America dominates the Market due to the Presence of High Demand in the Region. "
North America has seen a potential increase in the demand for reactive alumina in recent years. The increase in the demand can be due to the factors such as high infrastructure growth and easy accessibility and investments in research and development are propelling the reactive alumina growth in this region. The End user market has seen high growth and greater revenue generation in comparison with the other region.
Asia Pacific is also witnessing an escalating demand. China is leading the segment and the major advantage of the Asian countries is the high availability of raw materials for production. The continuous demands from the emerging countries and the establishment of an upgraded production unit and the growth of end-user industries are contributing to the growth of reactive alumina market size in this region.
KEY INDUSTRY PLAYER
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Honeywell International Inc (UOP) (U.S.)
- Axens (France)
- BASF SE (Germany)
- CHALCO (Mexico)
- Huber (U.S.)
- Porocel Industries (Canada)
- Sumimoto (Japan)
- Shandong Boyang New Materials (China)
- Jiangsu Sanji (China)
- Jiangsu Jingjing New Material (China)
- Sorbead India (India)
REPORT COVERAGE
This report covers the analysis of the reactive alumina providing a comprehensive market insight focusing on the existing key players who would play a crucial role in the forecasting period. It also analyses based on segmentation, industrial developments, trends, growth, size, share, restraints and revenue. The report covers an overview of the latest driving factor in the industry, dominant region, latest innovations and opportunities.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 823.7 Million in 2022 |
Market Size Value By |
US$ 1.223 Million by 2028 |
Growth Rate |
CAGR of 5.8% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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1. What value is the global reactive alumina market expected to touch by 2028?
The global reactive alumina market is expected to reach USD 1.223 billion by 2028.
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2. What CAGR is the reactive alumina market expected to exhibit by 2028?
The reactive alumina market is expected to exhibit a CAGR of 5.8% by 2028.
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3. Which are the driving factors of the reactive alumina market?
The demand from the refractory industry and the diverse application are the driving factors in the reactive alumina market.
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4. Which are the top companies operating in the reactive alumina market?
Honeywell International Inc, Axens, BASF SE, CHALCO, Huber, Porocel Industries, Sumimoto, Shandong Boyang New Materials, Jiangsu Sanji, Jiangsu Jingjing New Material Sorbead India are the key company operating in the reactive alumina market
