The global aluminium oxide market was valued at US$ X.43 Bn and is expected to reach X.82 Bn by 2027, at a CAGR of X.5% during a forecast period.
Aluminium oxide is a white odourless crystalline powder having chemical formula 〖Al〗_2 O_3. 〖Al〗_2 O_3 is water insoluble and amphoteric in nature and hence have broad applications in various chemical, industrial, and commercial sectors. As per FDA approval, it is considered as an indirect additive in food interaction ingredients.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Market Drivers and Restraints:
Greater demand for functionality and performance drives the demand for global aluminium oxide market during forecast period. Main advantages related to product is availability in variety of forms like sputtering targets, tablets, powder, nanoparticles so on. The enormous application as biomaterial in the medical manufacturing is expected to offer openings for the market growth during the forecast period. The medical and pharmaceutical segment dominated the market. It is likely to grow during the forecast period, with increasing investments into the healthcare industry across the world. Characteristics of the material which allow for electric conductivity, are ductile and can be used to develop the strength of a number of metals and alloys. Cumulative growth observed by the construction industry is propelling the market demand owing to the great thermal conductivity and excellent properties. Crystalline form of aluminium oxide delivers high strength and hardness which makes it the most preferable as an abrasive. It is further utilised as an advanced material in ceramics manufacturing owing to its different levels of purity and resistance towards alkali and acidic substances. Due to its non-toxic nature, Alumina is used as a filler in plastics and an ingredient in cosmetic products like sunscreen, body lotions, etc.
Moreover, due to the presence of different substitutes and stringent regulations, the global aluminium market growth can be hampered during the forecast period.
Aluminium Oxide Market Segment analysis:
By application, the electronic end-user segment is most likely expected to develop at a constant rate. As it is the most dominating segments amongst other expected to secure a share of 40% by the end of 2027. The key application of aluminium oxides is observed in manufacturing of semiconductors, lithium-ion batteries, LED lighting, phosphor, plasma display screen, sodium lamps, photovoltaic cells, optical lenses, hybrid cars, smartphone sapphire glass, and others, thus the growth in demand for above mentioned sectors is expected to have a positive impact on the demand for aluminium oxide in the coming years. As aluminium Oxide have high strength, durability with excellent anti corrosive properties is ruling the market growth.
Aluminium Oxide Market Regional Analysis:
Regionally, the Asia Pacific is anticipated to take over the aluminium oxide market and is expected to grow at CAGR of 8.23% during the forecast period. Developing regions like India, China, and Japan are considered major contributors for the aluminium Oxide market growth in the Asia Pacific region. India, China and Brazil are focusing mainly on improving their infrastructure and promoting their manufacturing industry, which will increase ultimate demand of aluminium oxide market size by 2027. It covers the market share ~ 52.12% as numerous key vendors are investing in the market owing to its high demand. In 2019 market size was calculated US$ XX Bn while in China market size was valued XX Bn and expected to increase by US$ XX Bn in the coming years.
Furthermore, recent covid-19 pandemic outbreak will negatively hinder the market growth in the Asia Pacific region.
North America will also generate incredible growth to the overall market in the coming years. Furthermore, North America’s aluminium oxide market size was valued XX Bn and expected to increase by US$ XX Bn in the coming years as vendors are shifting their interest in the Asia Pacific region.
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The objective of the report is to present a comprehensive analysis of the Global Aluminium Oxide Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global aluminium Oxide Market dynamics, structure by analyzing the market segments and project the Global aluminium Oxide Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global aluminium Oxide Market make the report
Scope of aluminium Oxide Market
Global aluminium Oxide market, By Form
• Sputtering Targets
Global aluminium Oxide market, By Application
• Engineered Ceramics
• Industrial Manufacturing
Global aluminium Oxide Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the aluminium Oxide Market,
• Shandong Weiqiao Pioneering Group
• China Hongqiao Group Limited
• Sasol and Alcoa Corporation
• Jin Jiang International
• East Hope Group
• Sumitomo Chemical
• Xinfa Group Co. Ltd
• Rio Tinto Group
• Norsk Hydro
• XINFA Group
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.</p>
Name: Vikas Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
Email: [email protected]
Contact: +919607065656 / +919607195908