Alumina Trihydrate Market Size, Share & Trends Analysis Report By Form (Dry, Wet), By End-use (Plastics, Automotive, Chemical Manufacturing), By Region (North America, Asia Pacific, Europe), And Segment Forecasts, 2023 - 2030

Alumina Trihydrate Market Size, Share & Trends Analysis Report By Form (Dry, Wet), By End-use (Plastics, Automotive, Chemical Manufacturing), By Region (North America, Asia Pacific, Europe), And Segment Forecasts, 2023 - 2030

Alumina Trihydrate Market Growth & Trends

The global alumina trihydrate market size is estimated to reach USD 5.64 billion by 2030, registering a CAGR of 5.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising consciousness about the need to have eco-friendly chemicals for usage in industries, such as construction, automotive ceramic making, and glass production, has led to an increased focus on alumina trihydrate, which is a non-toxic and chemically inert chemical. The rise of construction activities around the world, especially in developing countries, such as India, China, and other Southeast Asian nations, has contributed to the rising product demand as a raw material for enhancing the fire-retardant capabilities of building.

China forms the world’s largest construction market with overwhelming investment from the government as well as the private sector. China’s 14th five-year plan from 2021 to 2025 estimated the total investment in the country’s construction industry to remain around USD 4.2 trillion. In addition, the construction industry in India has expanded at a fast pace with foreign direct investment (FDI) of USD 26.3 billion and forms a 9% share of the country's GDP, employing 51 million people in the industry. India will constitute the third largest construction market in 2025 with a mission to build 100 smart cities being taken up by the Union government of India. Such massive investments made by governments and private entities are expected to boost the construction sector in these countries, thereby supporting market growth.

North America is expected to register significant growth due to the rise of end-user industries, such as construction and automobiles. The U.S. has the world’s second-largest automotive market with total sales of 14.5 million in 2020. It is also a front-runner in innovative technologies, such as electric vehicles (EVs), with leading firms, such as Tesla, having their headquarters in the region. The extensive R&D capabilities of these firms, having more than 70 research centers coupled with a substantial buying power of the population is expected to help it become a hub for EVs, hence forming a major opportunity for alumina trihydrates used in the car batteries powering these vehicles.

Alumina Trihydrate Market Report Highlights

• The wet product form segment is expected to register a CAGR of 4.6% from 2023 to 2030 due to its wide usage in applications, such as aluminum manufacturing and ceramics production
• Chemical manufacturing is expected to be the fastest-growing end-use segment with a CAGR of 5.05% during the forecast period. This is due to a shift toward eco-friendly chemicals, such as alumina trihydrate, for various applications including fire retardants
• North America will emerge as the fastest-growing region with a CAGR of 5.2% from 2023 to 2030 due to the presence of major end-use industries, such as automotive and construction
• Europe has brought regulations on the terms and conditions of chemical usage, such as the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), to discourage the use of harmful chemicals and direct a push toward green alternatives, such as alumina trihydrate
• The product usage for improving mechanical properties and lowering viscosity has led to the introduction of new products in a variety of sizes. In August 2023, Cimbar Resources Inc. introduced alumina trihydrate products in CAMX 2023, the products have a wide range of applications in the plastics industry

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