Global Aluminum Hydroxide Market 2023-2030

Global Aluminum Hydroxide Market 2023-2030

Global Aluminum Hydroxide Market Size, Share & Trends Analysis Report by Type (Industrial Grade, Pharmaceutical Grade, and Others (Reagent grade)), and by End-User Industry (Plastics, Pharmaceuticals, Coatings, Adhesives, Sealants and Elastomers, and Others (Chemical)) Forecast Period (2023-2030)

The global aluminum hydroxide market is anticipated to grow at a CAGR of 6.8% during the forecast period. The growing incidence of gastrointestinal disorders is driving the demand for aluminum hydroxide in the pharmaceutical market, which further results in increase in fatalities due to digestive diseases globally. According to the World Health Organisation (WHO), in 2020, mortalities around 1,23,648 were caused due to digestive diseases only in the US. Additionally, in the UK the number reached up to 31,588 in 2020. Increasing mortality rate due to peptic ulcer disease In the US, the mortality number was 3780 in 2020 incresed by 787 in 2019. Aluminum Hydroxide is used to treat symptoms in patients such as peptic ulcer, gastritis, esophagitis, hiatal hernia, or too much acid in the stomach (gastric hyperacidity). Some market players are offering aluminum hydroxide-based peptic ulcers treatments including Antacid (aluminum-magnesium)®, Antacid M®, Antacid Suspension®, Gen-Alox®, Maldroxal®, Mylanta® Ultimate, Ri-Mox®, Rulox®, and others.

Segmental Outlook

The global aluminum hydroxide market is segmented based on its type and end-user industry. Based on its type, the market is sub-segmented into industrial grade, pharmaceutical grade, and others (reagent grade). Further, based on the end-user industry, the market is sub-segmented into plastics, pharmaceuticals, coatings, adhesives, sealants and elastomers, and others (chemical). Among the type, the industrial grade sub-segment is anticipated to hold a prominent market share, owing to the increasing use of aluminum hydroxide as a buffering agent in many industrial processes including agriculture, food processing, medicine, and photography.

Pharmaceuticals Sub-Segment is Anticipated to Hold a Prominent Share in the Global Aluminum Hydroxide Market

Among the the end-user industry, the pharmaceutical sub-segment is anticipated to hold a prominent share in the global aluminum hydroxide market. The segmental growth is led by the increasing aging population, rising awareness of digestive health, and increasing gastrointestinal disorder such as acid reflux, gastroesophageal reflux disease (GERD), and peptic ulcers. According to the World Gastroenterology Organisation, 49% of females and 36.6% of males met criteria for at least one functional gastrointestinal disorders in all regions being functional constipation prevalence rates at 11.7%, functional dyspepsia prevalence rates at 7.2%. In addition, aluminum hydroxide is insoluble in water and organic solvents, which makes it useful as an antacid to neutralize hydrochloric acid in gastric secretions. Aluminum hydroxide is an antacid used such as Almacone, Derma Gran, Gelusil, Maalox Plus, Mi-acid, Mi-acid Double Strength, Mintox Plus for the relief of heartburn, acid indigestion, and sour stomach.

Regional Outlooks

The global aluminum hydroxide market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). Among these, North America is anticipated to hold a prominent share over the forecast period, owing to the increasing usage in polymer applications, primarily as fire retardants, and increasing safety standards in building construction.

Global Aluminum Hydroxide Market Growth by Region2023-2030

Source: OMR Analysis

The Asia-Pacific Region is Anticipated to Hold a Significant Share in the Global Aluminum Hydroxide Market

Among all the region, the Asia-Pacific region is anticipated to account for a significant share of the aluminum hydroxide market during the forecast period. One of the major factor driving the market growth includes the increasing use of aluminum hydroxide as a flame retardant material to meet the regulations and enhance fire safety across various industries, including construction, automotive, and electronics. In addition, the market players are continuously entering into partnership, collaboration and acquisition is also attributing to growth of market in this region. For instance, in July 2022, Aluminum Corp. of China Ltd. (Chalco) announced 19% acquisition of the shares of Yunnan Aluminium. The acquisition aims to strengthe the company's financial performance and raised the competitiveness and value of its most significant assets, and also integrated and better management in the aluminum hydroxide and electrolytic aluminum sectors.

Market Players Outlook

The major companies serving the global aluminum hydroxide market include TOR Minerals International Inc., Aluminum Corp. of China Ltd. (Chalco), Almatis B.V., Alteo Holding, Nabaltec AG, Huber Corp., LKAB Minerals AB, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2022, Hindalco Industries Ltd., signed an agreement with Phinergy and Indian Oil Corporation. The partnerships aims to start R&D and pilot production of aluminum plates, aluminum air-batteries, and recycling of aluminum.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global aluminum hydroxide market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.