According to latest research by Future Market Insights, colloidal alumina market is set to witness stable growth, registering a CAGR of 2.2% for the period of 2021-2024.
Demand for this product will be witnessing an increase across all major regional markets. Due to the novel applications of alumina, the market for this product is set to grow at a modest pace during the forecast period.
What is Driving Demand for Colloidal Alumina?
The rising industrialization and macroeconomic growth across Eastern Europe and APAC, has given a major boost to the construction industry, which in turn has resulted in surging demand for high quality products such as glass, specialty steel, etc. Metallurgy continues to be a lucrative avenue for colloidal alumina manufacturers.
The market is observing a trend of shifting of alumina production to the Asia-Pacific region. This can be correlated to the rising production of bauxite in the region, which serves as the primary raw material for alumina production. Countries like Indonesia, Australia, China, Malaysia, and India are involved in the high volume production of bauxite, which would boost their production of alumina in the region.
Also, the high-volume of steel production and consumption in countries such as Russia, India, China, U.S.A, and United Kingdom would further drive the demand for alumina at the primary refractory level, thus providing growth stimulus to the market.
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Refractory Sector is projected to Drive Colloidal Alumina market
Substantial end-user demand for high-specialty alumina in refractories and requirement of improved substrates used in various end-use industries continue to drive demand for colloidal alumina. Alumina is available in two grades namely, chemical and metallurgical. The former is used in manufacturing of ceramics, refractories, glass, etc. hence the high demand.
North America and Europe Colloidal Alumina Market Outlook
The U.S. accounts for a substantial share of the overall market. The Alumina sales in the region are quite high and make up a high portion of the global market size. Colloidal alumina is a potential binding agent that can replace the traditional refractory castable binders and hence the population has resorted to valuing this commodity. The markets in both US and Europe felt significant impact owing to the COVID-19 pandemic, with large scale disruption to industrial activities.
The resulting slump led to a prominent slowdown in the market for multiple quarters. However the economies are now opening up at a steady pace and market recovery can be expected to start from the second quarter of 2021.
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China Colloidal Alumina Market Outlook
An increase in the demand for the product is forecasted for China as well, given it is the most prominent consumer of the product in the world. The growing need of the this product from the large scale aluminium smelters leads to significant growth for the market. The country has been quick to open up its industry after the pandemic was brought under control in the later part of 2020 and since begun to stimulate the economy back to pre-pandemic levels.
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Who are the Key Manufacturers and Suppliers of Colloidal Alumina?
Some of the leading manufacturers and suppliers of colloidal alumina include
- Bisley and Company
- KT Refractories US Company
- Possehi Erzkontor
Almatis is a supplier and manufacturer of alumina and alumina-based products. It is a leading supplier of alumina and alumina-based products for the ceramics market, globally. AluChem focuses on manufacturing high-quality alumina products. The company offers AC99 tabular alumina available at ultra-low or low soda, de-dusted, and de-ironed packages.
Whereas, Bisley & Company offers products that range from fine chemicals for specialized applications to alloys and bulk metals delivered to major smelters and steel mills. It is one of the prominent manufacturers of tabular alumina, globally. Its tabular alumina comprises of large 50 to 200 µm flaky elementary crystals, and thus, it is called sintered α-alumina.
KT Refractories manufactures tabular alumina which has smooth, long lasting, thermal shock properties and good resistance to abrasive and mechanical actions found in high chemical purity and catalyst support systems.
Possehl Erzkontor’s portfolio includes almost all synthetic and natural industrial raw materials with a focus on sectors such as metallurgical refractory and chemical industries.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
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