Dublin, April 19, 2019 (GLOBE NEWSWIRE) -- The "Alumina Trihydrate Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The market for alumina trihydrate is anticipated to register a CAGR of 5.63% during the forecast period 2019 and 2024. It is also called as Alumina Hydrate, Aluminum Hydroxide, Aluminum Tri Hydroxide, and Aluminum Hydrate.

Increasing demand for plastics from various end-user industries are expected to drive the demand for the market during the forecast period. Availability of some non-toxic substitutes such as Magnesium Hydroxide and Calcium Carbonate is likely to hinder the market's growth. Increasing usage of alumina trihydrate in the new applications such as batteries, chemicals, etc., is projected to act as an opportunity for the market in the future.

Key Market Trends

Increasing Demand for Plastics

Alumina trihydrate is majorly used in plastics as a flame retardant. Almost 50% of the alumina trihydrate produced is being used in the plastics industry. Plastics are being used in different end-user industries owing to the advantages such as low cost, less weight, durable, water resistant, etc. Some of the major end-user industries include automotive & transportation, construction, electrical & electronics, etc.

Growing demand for lightweight materials in the automotive industry, in order to provide increased efficiency and design flexibility, is primarily responsible for the growth of the plastics market. High-performance plastics offer manufacturers the advantages of design and comparable strength of steel, which helps in reducing the overall weight and controlling greenhouse gas emissions.

The building and construction sector is the second-largest application segment for plastics. The demand from developing economies, like China and India, is much more than the demand from developed countries, like United States and United Kingdom. In developed countries, the construction sector is mature, as compared to the construction sector in developing economies, which is growing drastically, fuelled by the growing population and increasing urbanization. It is projected that, by 2021, China and India together are expected to account for around 40% of the global construction industry.

All the aforementioned factors increase the demand for plastics from various industries. This, in turn, expected to drive the demand for the alumina trihydrate during the forecast period.

Asia-Pacific Region to Dominate the Market

Asia-Pacific region dominated the global market share in 2018. With growing demand for plastics and growing building & construction industries in the countries such as China, India, and Japan, the usage of alumina trihydrate is increasing in the region. The market in the region is anticipated to register the highest CAGR during the forecast period.

Competitive Landscape

The alumina trihydrate market is partially consolidated. In terms of market share, few of the major players currently dominate the market. Key players in the alumina trihydrate market include Nabaltec AG, ALMATIS, Huber Engineered Materials, LKAB Minerals AB, and other prominent players include Aditya Birla Management Corporation Pvt. Ltd., Akrochem Corporation, Alumina - Chemicals & Castables, and Aluminum Corporation of China Limited (Chalco), among others.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand for Plastics from Various End-user Industries
4.1.2 Growing Construction Industrial Activities Across the World
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Availability of Non-Toxic Substitutes
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis

5 Market Segmentation
5.1 Application
5.1.1 Flame Retardant
5.1.2 Antacid
5.1.3 Filler
5.1.4 Others
5.2 End-user Industry
5.2.1 Plastics
5.2.2 Coatings
5.2.3 Glass
5.2.4 Pharmaceuticals
5.2.5 Adhesives & Sealants
5.2.6 Others
5.3 Geography

6 Competitive Landscape
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aditya Birla Management Corporation Pvt. Ltd
6.4.2 Akrochem Corporation
6.4.3 ALMATIS
6.4.4 Alteo
6.4.5 Alumina - Chemicals & Castables
6.4.6 Aluminum Corporation Of China Limited (Chalco)
6.4.7 Huber Engineered Materials
6.4.8 Lkab Minerals Ab
6.4.9 Mal - Magyar Aluminium
6.4.10 Nabaltec Ag
6.4.11 Sibelco
6.4.12 Sumitomo Chemical Co., Ltd.

7 Market Opportunities and Future Trends
7.1 Increasing Usage in Batteries and Chemicals

For more information about this report visit https://www.researchandmarkets.com/r/3x1wfz

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Related Topics: Flame Retardants

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