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DUBLIN--(BUSINESS WIRE)--Dec 1, 2022--
The "Aluminum Hydroxide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global aluminum hydroxide market reached a value of US$ 1.78 billion in 2021. Looking forward, the market is projected to reach a value of US$ 2.46 billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
Aluminum hydroxide Al (OH)3, or trihydrate aluminum, refers to an insoluble white-colored inorganic amphoteric compound that is found naturally in the form of mineral gibbsite. It acts as an intermediate for manufacturing various aluminum-based compounds, including zeolites, aluminum oxide, and magnesium hydroxide.
Aluminum hydroxide is lightweight and fire-resistant in nature, on account of which it is extensively deployed for producing drugs, plastics, elastomers, sealants, and adhesives. Apart from this, it possesses a neutral pH level, which makes it an ideal component for formulating various cosmetic products. At present, aluminum hydroxide is available in powdered and gel forms.
Aluminum Hydroxide Market Trends
The widespread adoption of aluminum hydroxide across various industrial verticals, such as manufacturing, chemical, automotive, electronics, transportation, and pharmaceuticals, on account of the increasing need for fire retardants plastics and polymers as coatings and fillers to inhibit combustion is one of the prime factors currently driving the market toward growth.
Aluminum hydroxide further offers various benefits, including cost-effectiveness, lightweight, durability, and water solubility, which is further facilitating their demand across the globe.
Additionally, the escalating prevalence of various chronic diseases, especially amongst the geriatric population, is acting as another growth-inducing factor. In line with this, aluminum hydroxide is extensively used in medications to treat ailments, such as heartburn and gastroesophageal reflux, which is contributing to the market growth.
In line with this, the shifting inclination of the electronic industry toward halogens materials for insulating it in housings for circuit breakers, motors, and transforms over non-halogenated components due to their fire-resistant properties is contributing to the market growth.
Other factors, such as strategic collaborations amongst the key players and the rising investments in the research and development (R&D) activities, are creating a positive outlook for the market across the globe.
Key Questions Answered in This Report
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Market Segmentation
Breakup by Grade:
Breakup by Form:
Breakup by Application:
Breakup by Region:
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KEYWORD:
INDUSTRY KEYWORD: NATURAL RESOURCES OTHER MANUFACTURING MANUFACTURING MINING/MINERALS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/01/2022 12:00 PM/DISC: 12/01/2022 12:02 PM
http://www.businesswire.com/news/home/20221201005864/en