According to the latest report by IMARC Group, titled “Global Aluminum Oxide Market Overview: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global aluminum oxide market reached a value of US$ 5.35 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.72 Billion by 2027, exhibiting at a CAGR of 5.70% during 2022-2027. Aluminum oxide (Al2O3), also known as alumina, is a white, odorless chemical compound with a relatively high thermal conductivity. It is amphoteric in nature and widely used as an electric insulator in industrial manufacturing processes to prevent devices from weathering. In addition, the high melting point of aluminum oxide makes it a suitable refractory material for lining high-temperature appliances such as kilns, furnaces, incinerators, reactors, and crucibles.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Aluminum Oxide Market Trends:
The market is primarily driven by the increasing product applications across various industries. For instance, Al2O3 is employed in the pharmaceutical sector to act as a preferred material in bearings of hip replacements, bionic implants, prosthetic eye substitutes, tissue reinforcements, dental crowns, abutments, bridges, and other dental implants. This, in line with the growing investments in the healthcare sector by governing agencies of numerous countries, is creating a positive market outlook across the globe. Moreover, the market is favored by the increasing usage of Al2O3 in industrial manufacturing processes. For example, it is used to produce piping components and numerous cutting tools, machining tools, wear-resistant pump impellers, thermocouple sheaths, and baffle plates. In addition, Al2O3 is extensively utilized in manufacturing engineered ceramics due to its thermal conductivity. Apart from this, the rising usage of Al2O3 in construction, container packaging, electrical engineering, and smelting processes is also fueling the market growth. Furthermore, key players are collaborating and forming alliances to focus on commercialization and large-scale production, which is expected to propel the market growth in the upcoming years.
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Global Aluminum Oxide Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Alcoa Corporation
- Aluminum Corporation of China Limited
- BASF SE
- Cabot Corporation
- Evonik Industries AG
- Hangzhou Jinjiang Group Co. Ltd.
- Honeywell International Inc.
- J.M. Huber Corporation
- Merck KGaA
- Sasol Limited
- Sumitomo Chemical Co. Ltd.
- W.R. Grace & Co.
Breakup by Form Type:
- Sputtering Targets
Breakup by Application:
- Aluminum Smelting
- Aluminum Chemicals
- Engineered Ceramics
Breakup by End User:
- Industrial Manufacturing
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance 2016-2021
- Market Outlook 2022-2027
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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