According to a recent study by Grand View Research Inc., the global activated alumina market is projected to reach US$1.32 billion by 2025 growing at a CAGR of 5.4 per cent. Growing demand from key end-user industries such as, Water Treatment, Oil & Gas will drive the growth in the market. A robust growth of the North American healthcare industry will further fuel the demand of the mineral over the period under review.
Activated alumina is a highly porous substance that exhibits a potentially large surface area. It is used as fluoride adsorbent in water treatment and as catalysts in the oil & gas industry. Other applications include catalyst, desiccant, and bio ceramics.
The water treatment segment accounted for the largest share of industry revenues in 2016; it is expected to continue its dominance with 6.2 per cent growth rate over the forecast period, said the US based market research firm in their latest report. Increased government in water treatment infrastructure in the developing nations for both domestic as well as industrial functions will drive the growth.
Looking at region-wise growth prospects, Asia Pacific tops the list with growth projected at 6.2 per cent during 2017-2025. The region dominated the overall industry revenues last year.
From the industry trends it is clear, that the key players are focussing primarily on market consolidation. Larger players are acquiring smaller enterprises to strengthen their portfolios and build a buffer against global market volatility. In January 2017, Axens SA acquired shares of Heurtey Petrochem S.A. with the objective to enhance their competitive position in the industry.
Responses
