Alumina Market size worth over $55 billion by 2027

According to a new research report by Global Market Insights Inc., the Alumina Market size is expected to cross USD 55 billion by 2027 due to the cost-effectiveness, high production ability, and rising downstream applications.
 

Alumina is a synthetically produced crystalline or powdered substance, commonly used to prepare silvery-white aluminum. Rising public health concerns coupled with scarcity of drinking water across the globe will drive the demand for chemical grade alumina in the coming years. Moreover, the growing need for lightweight and durable industrial equipment will influence the aluminum production.
 

Increasing water scarcity across the globe owing to inadequate handling of fresh water will trigger the demand for water treatment devices. The rapid growth of mining and industrial activities will significantly lower the water quality due to waste disposal. To offset these adverse impacts and attain sustainable development, governments are taking initiatives for wastewater treatment. Chemical grade alumina can effectively remove contaminants due to its superior absorbent properties.
 

Rising awareness about removing fluoride and Sulphur from industrial wastewater along with favorable government policies will positively impact the overall alumina market in the upcoming years. In addition, robust economic development in the emerging countries will thrive the infrastructure industry, increasing the scope of lightweight machinery and equipment. Increasing demand for mobile aluminum platform in the building and construction industry will gradually boost the industry size over the forecast period.
 

However, volatility in the upstream of aluminum value chain is likely to impact the supply and demand for alumina over the assessment period. Stringent government laws and regulatory norms associated with aluminum production may limit the business growth. China is the largest producer of alumina followed by Australia and Brazil. Geopolitical issues such as the U.S.-China trade war may consequently suppress the alumina market share in the upcoming years.
 

Browse key industry insights spread across 180 pages with 246 market data tables & 21 figures & charts from the report, “Alumina Market By Grade (Chemical, {Chemical Grade [Calcined (Ordinary Soda, Medium Soda, Low Soda), Tabular, Fused, Reactive, Aluminum Trihydrate), Smelter), By Application (Aluminum Production, Non-Aluminum Production, (Non-Aluminum Application [Abrasives, Ceramics, Refractories, Filtration, Others]), Industry Analysis Report, Regional Outlook,  Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/alumina-market
 

The smelter grade alumina segment will foster the product demand

The chemical grade alumina segment will hold more than 15% share in global alumina market by 2027. It is produced through calcination at elevated temperature in comparison with smelter grade alumina. This material is typically used to manufacture adhesives, flame retardants, detergents, paints, etc. Furthermore, the wide application of chemical grade alumina in the production of lithium-ion batteries for effective energy storage devices and in wastewater treatment will significantly drive the alumina market growth over the assessment period.
 

Factors, such as high thermal conductivity, good heat & impact resistance capacity, and excellent electrical resistivity, increase the demand for calcined alumina to a greater extent. These properties collectively make calcined alumina suitable for diverse applications, including abrasives, porcelains, electrical insulators, and glass, further augmenting the product demand in the near future.
 

Non-aluminum production to gain popularity by 2027

Non-aluminum production is likely to capture a significant market share in the coming years and will attain a healthy CAGR of around 6.4% from 2021 to 2027. Alumina refractory is the fastest growing application in the segment. Its high melting point and anti-corrosion properties make it suitable for wide usages in industries. The product supports large applications including ceramic & cement kilns, hearth & shaft of blast furnaces, and glass tanks in the metal industry. Rapid growth of casting foundry across the globe will influence the demand for quality heat insulation, further boosting the overall alumina consumption throughout the study period.
 

North America will showcase sustainable growth

North America alumina market will surpass USD 3.5 billion by 2027 due to continuous development in infrastructure and transportation sectors. Countries, such as the U.S. and Canada, are focusing on adopting lightweight materials for the automotive & aerospace industry to meet the GHG emission norms by 2025. Moreover, the region has been well recognized for its technologically advanced manufacturing facilities, machine equipment & tools, and casting foundries over the years.
 

Opening of upgraded production line is likely to create market opportunities

The alumina industry is highly competitive, and key market players are adopting various marketing strategies to expand their geographical presence to meet customer requirements. Moreover, process upgrade and facility improvisation will gain competitive advantages in near future. Leading market players are Alcoa Corporation, Aluminum Corporation of China (Chalco), Rusal, Xinfa Group, Rio Tinto, Hongqiao Group, Norsk Hydro, NALCO, Alum S.A., Nippon Light Metal Company, Vedanta, Worsely Alumina, Sasol, Almatis, and Cabot Corporation.