Aluminum Oxide Market size is estimated to reach more than US$7.8 billion by 2027, after growing at a CAGR of 5.8% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, September 20, 2022 /EINPresswire.com/ -- Aluminum Oxide Market size is estimated to reach more than US$7.8 billion by 2027, after growing at a CAGR of 5.8% during the forecast period 2022-2027. Aluminum oxide, also known as alumina, is a naturally occurring compound that is employed in a variety of industries. The increased use of aluminum oxide in the manufacture of engineering ceramics, abrasive and industrial ceramics due to its high thermal conductivity is expected to drive market growth. The market is expanding due to increased demand for aluminum oxide from major end-use industries such as construction and automotive. According to Oxford Economics, the global construction output in 2020 was US$10.7 trillion 2020 and is expected to grow by 42% or US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion. The COVID-19 pandemic majorly impacted the Aluminum oxide market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand.

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Key takeaways:

This IndustryARC report on the Aluminum Oxide market highlights the following areas -

1. Asia-Pacific dominates the Aluminum Oxide market size. The increase in demand from applications such as engineering ceramic, abrasive, industrial ceramic and others is the main factor driving the region's growth.

2. One of the primary factors contributing to the Automotive Solar Control Glass market's favorable outlook is significant growth in the automotive industry around the world.

4. The Aluminum Oxide market was dominated by the medical and pharmaceutical sectors. It is expected to grow during the forecast period, as global investments in the healthcare industry increase.

5. However, high risks associated with aluminum oxide are limiting the Automotive Solar Control Glass market growth.

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Segmental Analysis:

1. The Pieces segment held the largest share in the Aluminum Oxide market share in 2021 and is estimated to grow at a CAGR of 5.6% during the forecast period 2022-2027. Pieces are formed by compacting sintered material at a high temperature.

2. The Asia-Pacific region held the largest share of up to 38.4% in the Aluminum Oxide market in 2021. The fueling demand and growth of aluminum oxide in this region are influenced by growing demand from major industries such as electrical & electronics, automotive and others, along with increasing manufacturing activities across APAC.

3. The insulators segment held the largest share in the Aluminum Oxide market in 2021 and is estimated to grow at a CAGR of 6.1% during the forecast period 2022-2027. Aluminum oxide has excellent thermal resistive properties, making it useful in the production of high-temperature furnace insulation and electrical insulators.

Competitive landscape:

The top 5 players in the Aluminum Oxide industry are:

1. Almatis
2. Aluminum Corporation of China Limited (CHALCO)
3. Chemicals India Company
4. China Hongqiao Group Limited
5. Khambhalay Abrasive

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Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
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