The Alumina Trihydrate Market report presents high-quality and wide-ranging research study with key factors that are expected to have a Major impact on the Alumina Trihydrate during the forecast period. The report present Key Market segments valued based on its growth rate and share.This report also provides an analysis of the impact of the COVID-19 pandemic on Industrial Labels Industry.The report explains the historical and current trends that are shaping the growth of the Alumina Trihydrate .
Market overview:
Alumina Trihydrate is an inexpensive and safe flame retardant commonly used in plastics, rubber, and upholstered furniture. Its thermodynamic properties make it a good replacement for antimony. Its other uses include as an antiperspirant and smoke suppressant. It is widely used in pharmaceuticals, paints & coatings, and building & construction. Moreover, alumina trihydrate has many applications in the cosmetics, food, and pharmaceutical industries. The automotive sector accounts for over a third of the global market, but the building and construction industry is the largest contributor to the growth of the global alumina trihydrate market.
Competitive Landscape:
Key companies involved in the global alumina trihydrate market are SHOWA DENKO K.K., Aluminium Corporation of China Limited, Albemarle Corporation Huber Engineered Materials, NALCO, Alfa Aesar, Sumitomo Chemical Co., Ltd, Alcoa Corporation, Nabaltec AG, and MAL-Hungarian Aluminium Producer and Trading Co.
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Market dynamics:
Growing demand for alumina trihydrate in the paints and coating industry is expected to propel growth of the global alumina trihydrate market during the forecast period. The demand for alumina trihydrate is high in the paints, coating, and paper industry due to its cost effectiveness and thermodynamic properties that make it a better alternative for antimony that is widely used as flame retardant. For instance, in July 2021, Berger Paints entered into an agreement with Promat Fire and Insulation Private Ltd, to launch fire retardant painting solutions in Bangladesh.
However, availability of alternatives for alumina trihydrate is expected to hinder growth of the global alumina trihydrate market during the forecast period.
Impact of COVID-19 pandemic:
The outbreak of the COVID-19 pandemic has significantly impacted growth of the global alumina trihydrate market. It has affected the manufacturers supplying to the rubber and glass industries, which weren’t considered essential. The COVID-19 outbreak has affected the global market players active in alumina trihydrate market in the region of Asia Pacific, European countries, and the U.S. The disrupted supply chain has caused hindrance in the production units due to shortage of raw materials and workforce. However, relaxation in the COVID-19 restrictions and decreasing cases is expected to support growth of the market.
Key takeaways:
The global alumina trihydrate market is expected to expand, registering a CAGR of 7.7% during the forecast period, owing to increasing plastic consumption. For instance, in 2018, according to Environmental Protection Agency (EPA, U.S., 5.6 million tons of plastic was combusted with energy recovery in municipal solid waste (MSW) in 2018.
Among regions, North America is expected to witness significant growth in the global alumina trihydrate market during the forecast period. This is owing to high demand for alumina trihydrate material in the construction industry.
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Detailed Segmentation:
Global Alumina Trihydrate Market, By End-use Industry
Plastic Industry
Paper Industry
Paints & Coatings Industry
Adhesives Industry
Chemicals Industry
Pharmaceuticals Industry
Others
Important Features that are under Offering and Key Highlights of the Reports:
– Potential and niche segments/regions exhibiting promising growth.
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
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✤ SWOT Analysis is used to define, assess, and analyse market competition by focusing on the world's major manufacturers. The market is defined, described, and forecasted by type, application, and region.
✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.
✤ Determine whether market growth is being driven or hampered by trends and factors.
✤ Stakeholders will be able to assess market potential by identifying high-growth categories.
✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.
✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.
✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.
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✔ In the next seven years, what innovative technology trends should we expect?
✔ Which sub-segment do you believe will grow the fastest over the next few years?
✔ By 2028, which region is predicted to have the largest market share?
✔ What organic and inorganic strategies are businesses employing to gain market share?
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