The world market for activated alumina is projected to be highly competitive with many crucial market players vying to withstand the market competition with innovative product offerings and by improving the functionality of their already existing products. Sponsorship of industry events and various long term lighting contracts are some of the significant growth strategies for the success of this market.
Activated alumina is mostly utilized as a reaction catalyst, in the industry of oil and gas, and for the purpose of treatment of water. Rising investments in the infrastructure treatment of water and the ever growing demand for oil and gas have been influencing the demand for activated alumina over the last few years.
Some of the eminent names in the world market for activated alumina are BASF SE, Sumitomo Che, Axens, Honeywell International Inc., Porocel Industries, and Albemarle Corporation.
In accordance with a report by Transparency Market Research, the world market for demand for activated alumina is to reach around 618,182.9 tons by the year 2024. However, on the other hand, the sales of activated alumina, on the other hand, are estimated to be worth around US$ 1,108.9 mn by the year 2024, rising from an earlier valuation of US$ 770.6 mn in the year 2015. The market is anticipated to register a growth rate of 4.2% CAGR by value from the year 2016 to the year 2024.
Asia Pacific is Estimated to Continue with its Regional Supremacy
The world market for activated alumina has been categorized into five major geographies of North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific held for more than around 30% of the total activated alumina international market in the year 2015. Asia Pacific has emerged as a prominent regional segment that very year. The burgeoning demand for activated alumina in the industries of oil and gas and water treatment and a surge in the taking up of activated alumina in various sulfur recovery units have been driving the said market in the region of Asia Pacific.
The market for activated alumina in the regions of North America and Europe are further expected to register sound growth over the period of forecast. The U.S. comprised a substantial share of the world market for activated alumina in the year 2015. The US suffers from excess fluorine in water and it has been a major concern in the U.S. It is estimated that around more than 60% of the total American population consumes fluoridated water. There has been an increase in the production of oil and gas in the US and as such, it is also projected to propel the demand for activated alumina in the U.S. The adoption of activated alumina has been substantially high in countries like China and the said country plays a crucial role in the progress of the international market for activated alumina.
Growing Need for Effective Wastewater Treatment Infrastructure to Fuel Market Growth
Activated alumina is the chosen point-of-entry or point-of-use water treatment device and it assists in the removal of various contaminants from water. In accordance with the TMR report, wastewater treatment is considered to be a steadily growing market and the requirement for activated alumina is substantially dependent on its growth. In accordance with the estimates by the United Nations, around US$ 103 bn was being invested in many of the developing economies alone so as to finance wastewater treatment and sanitation in the year 2015. Thus, the rising need for effective and efficient wastewater treatment infrastructure and solutions is considered a key factor that is fuelling the world market for activated alumina.
In addition to this, the said market is also driven by the extensive adoption of activated alumina in the Claus process. Nevertheless, substantial threat from the substitutes like zeolite, silica gel, and activated carbon is expected to restrain the said market.
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The water treatment industry has bolstered the demand for activated alumina. Activated alumina is also utilized for the purpose of selective adsorption of heavy metals like lead, uranium, selenium, and arsenic from water streams. It is also utilized for the purpose of de-fluorination of water.
The information shared in this review is based on a TMR report, titled, “Activated Alumina Market (End users – Reaction Catalyst, Oil & Gas, Water Treatment, Biomaterial) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”