Flame Retardant Segment Is Projected To Drive The Global Alumina Trihydrate Market During The Forecast Period 2019-2026

(MENAFN- Straits Research) Introduction

Alumina trihydrate is a white, odorless, powdery, solid substances which is mostly used for the production of aluminum metal. It is widely used flame retardant due to its versatility and low cost. Moreover, it is available in different particle sizes and can be used in wide range of polymers at processing temperatures below 220 degrees Celsius. There is increasing use of the market as a substitute of titanium dioxide pigments in paints & coatings and paper industry due to cost efficiency is a major factor propelling the growth of the market. . Additionally, a huge presence of local players has intensified the competition in the alumina trihydrate market. Thus, innovation is the organic strategy for the development of the market, and most of the players are investing various other developing strategies to increase the demand of the market in coming years. On the other hand, local companies are trying to sell their products at low cost to expand their presence and market share.

Segmental Insights The global alumina trihydrate market is bifurcated into various segments such as application, end-user, and region.

Based on the end-user segment, the alumina trihydrate market is classified into plastics, building & construction, pharmaceuticals, paints & coatings, glass, rubber, and others. The plastic segment is expected to grow at the highest rate owing to the increasing demand for plastic from developing economies of Asia Pacific and Europe. According to the Plastic Europe, it is estimated that the world production level of plastic materials was 280 million tons in 2016 Moreover, it is estimated that China is the largest producer of plastic with over 17.6% of global production.

Depending upon the application, the alumina trihydrate market is bifurcated into flame retardant, filler, antacid, and others. The flame-retardant application is expected to grow owing to the increasing demand for flame retardant for fire safety in different applications such as wires & cables, and plastics product, among others. Additionally, it is also used in various industries such as construction, electrical, automotive, and others is likely to boost the market growth.

Regional analysis Global alumina trihydrate market
is segmented into North America, Europe, Asia Pacific (APAC), Latin America and Middle East & Africa.

Asia Pacific is projected to hold the major share of the alumina trihydrate market during the forecast period 2018–2025 owing to increasing application of flame retardant in various industries such as plastics & buildings & construction, especially in China. The rising demand for cost-effective flame retardant is another factor fueling the consumption of alumina trihydrate in China. Thus, it is expected to emerge as the largest consumer of alumina trihydrate in the APAC region. For instance, in April 2018, researchers from the University of Science and Technology of China developed a new fire-retardant construction material that can resist about 1,300 degrees Celsius flame without disintegration.

North America is expected to become one of the prominent regions in the global alumina trihydrate market owing to the rapid growth of the construction industry. Additionally, the increasing investment in infrastructural activities by the government, for instance, redevelopment of the World Trade Centre is further stimulating the market growth. High expenditure on research & development and presence of leading players drive the growth of the North America alumina trihydrate market.

Europe and LAMEA is expecting a healthy growth if alumina trihydrate market owing to the huge untapped opportunities in the African region. The Europe is driving the market due to availability of huge funding, strong industrial base and government support.