Aluminum Trihydrate Market Size, Value, Trend and Outlook 2023
Posted by Rishab Gupta on February 17th, 2020
Huber Engineered Materials (J.M. Huber Corporation, U.S.), Alfa Aesar (U.S.), Sumitomo Chemical Co., Ltd (Japan), Albemarle Corporation (U.S.), SHOWA DENKO K.K. (Japan), Alcoa Corporation (U.S.), Aluminium Corporation of China Limited (China), Nabaltec AG (Germany), NALCO (India), and MAL-Hungarian Aluminium Producer and Trading Co.
Aluminum Trihydrate Market is segmented into applications, end-use industry, and region.
On the basis of the application, the market is segmented into industrial chemicals, caulks & sealants, adhesives, wire & cables, coatings, printing inks, ceramics, and rubber.
Based on the end use industry, the global aluminum trihydrate market is segmented into construction, electrical, automotive, paints & coatings, paper, plastic, textile, pharmaceuticals, and cosmetics & personal care.
On the basis of the region, the aluminum trihydrate market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Aluminum Trihydrate (ATH) Market is anticipated to grow at average CAGR during the forecast period 2017 -2023
Aluminum trihydrate (ATH) is a white crystalline powder produced by dissolving bauxite into sodium hydroxide. It is also termed as hydrate alumina, alumina hydrate, aluminum tri-hydroxide, and aluminum hydroxide. ATH possesses various superior properties such as flame retardant, smoke suppression, thermal conductivity, versatility, and chemical inertness. The product finds application in aluminum, chemicals, adhesives, caulks & sealants, coatings, ink, wires & cables, paper, carpet backing, and rubbers.
Increasing demand for flame retardant products from the major end-use industries such as construction, electrical, automotive, plastic, and textile industry is propelling the growth of the market. Growing construction with the rising investment in infrastructural activities is fuelling the product demand across regions. Furthermore, rising spending on the residential construction coupled with improving living standards and rising per capita disposable income are key factors driving the growth of aluminum trihydrate market.
Emerging electronics industry along with the initiatives taken by the government such as internet of things (IoT) and automation are stimulating the ATH demand further. Rising consumer preference towards built-in functions within personal devices is expected to drive the market growth substantially over the forecast period 2017-2023.
Some of the trends noticed among the key players in ATH market includes acquisitions and capacity expansion. For instance, in 2018, Huber Engineered Materials, a part of J.M. Huber Corp, announced a significant capital investment to expand the production capacity of ATH product by 20% under the brand name “Martinal.” This will help the company to expand its business in the Asia Pacific and European region. However, key players in the ATH market are announcing the hike in their ATH products prices due to increasing raw material and labor cost, which may affect the market growth negatively.
Get More Details Followed by TOC & Table Of Figures @ https://www.marketresearchfuture.com/reports/aluminum-trihydrate-market-5922
Asia Pacific is leading the aluminum trihydrate market due to the rising investment in both residential and commercial construction activities. Initiation of construction projects by the Government of India such as Inland waterways projects is driving the growth of the ATH market in this region. Growing demand for the water-based coatings from the automotive industry is propelling the market growth further.
North America and Europe are expected to bolster the market growth with increasing demand from the major end use industries such as construction, automotive, and paints & coatings among others.
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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