ID: MRFR/CnM/6636-CR | July 2019 | Region: Global | 449 pages
Aluminum Oxide Market is anticipated to express a 6.68% CAGR growth to touch USD 70,511.7 Million by the conclusion of 2030. Aluminum oxide is the fourth most commonly found mineral globally. Aluminum oxide is an inherently appearing compound that finds use in numerous industries, mostly in aluminum manufacturing. Aluminum oxide is primarily exploited in the construction industry, owing to its outstanding properties and comparatively significant thermal conductivity. Alumina provides high strength and hardness in its transparent form, which makes it more suitable as an abrasive. Aluminum oxide acts as an outstanding refractory substance for high-temperature applications in crucibles, incinerators, furnaces, kilns, and reactors of numerous categories. Aluminum oxide also finds applications as an advanced material in ceramics due to its multiple purity and endurance to alkali and acid substances. Aluminum oxides' s non-toxic properties have led to their use as a filler in plastics and as an element in cosmetic products such as body lotions and sunscreen creams. Aluminum oxide is anticipated to see enormous demand from the medical transplants' subdivision due to its application as a biomaterial, which is anticipated to grow the global aluminum oxide market growth through the forecast period. Moreover, its use in prosthetics is estimated to grow in the forecast period, creating optimistic development options in the forecast period.
The spread of COVID-19 has intensified immensely and has impacted several key markets, which is true for the aluminum oxide market. The surge in demand is foreseen later in the year as markets rebound back to normalcy following the vaccine's delivery to treat COVID-19 to a broader population section. Improvement in demand and market sentiment is estimated to guide the aluminum oxide market size in the near future. The resurgence in demand from electronics and industrial manufacturing sector for aluminum oxide in the approaching period. The investment being made in this year for the development of the aluminum oxide sources are projected to promote the overall development of the market.
Rising Demand in the Production of Dental Cements
The collective application of aluminum oxide in the manufacture of dental cement and the industrial manufacturing processes is possible to be a key factor compelling the global market's growth.
Increasing Use of Aluminum Oxide
The intensifying adoption of aluminum oxide in porous ceramics production is also expected to boost the market's development.
Growing Demand for High-Purity Alumina
High purity aluminum oxide's usage in ceramic materials owing to its high thermal conductivity ensures a stable revenue source to market growth.
Increasing Use As A Biomaterial In Medical Transplant
The augmenting requirement from the medical industry is projected to spur the advance of the aluminum oxide manufacturers.
Fluctuations In Aluminum Oxide Prices With Depleting Reserves Of Bauxite Ore
The stakes related to bauxite ore mining are projected to confine the forecast period's aluminum oxide market growth.
By Structural Form
The powder segment is anticipated to list a CAGR of 5.67% by the conclusion of 2030. The powder segment reported for the prime share of 39% by the worth in 2018 owing to its cost-effectiveness and excellent properties likened to others, even in dangerous conditions.
The electronics segment reported for the prime segment of 53.5% by value and is anticipated to record a 6.76% CAGR throughout the forecast period.
The 4N (99.99%) segment reported the most significant share of 47.9% by worth and is anticipated to record a CAGR of 6.16% throughout the forecast period.
Swift Industrialization To Motivate APAC
The Asia Pacific region has a major stake of 52.3% in 2018 owing to speedy industrial growth and favorable regulatory policies in the region's emerging economies. The regional market is expected to register a CAGR of 7.21% during the forecast period. China held the largest market share by value in 2018 and is expected to exhibit the highest CAGR of 7.83% during the forecast period.
Pharma Titans To Bolster North American Share
North America was the second-highest regional market in 2018 due to the medical and pharmaceutical industries' progress and the increasing application of aluminum oxide in electronics. The market is likely to record a CAGR of 6.3% in the forecast period. The U.S. conveyed an advanced market share by nations in 2018 and is anticipated to register the highest 6.42% CAGR throughout the forecast period. However, Canada in 2018 and is projected to exhibit a 5.72% CAGR owing to the collective use of electronic appliances linked with the reduction in the immigration guidelines.
The outstanding companies in the Global Aluminum Oxide Market are
Dec 2020 Rubicon Technology, Inc. who had formerly applied a stock buyback plan to repurchase up to USD 3 million of its shared stock in November 2018, this year, they used up all of the outstanding amounts of such initial USD 3 million authorization in July this year. The Board of Directors at Rubicon has sanctioned another stock buyback plan to buy up to an additional USD 3 million of its shared stock from time to time through open market and private dealings. Rubicon has a branded technology platform and expertise, extending from raw aluminum oxide preparation through sapphire crystal development and fabrication.
Dec 2020 A group of scientists from Siberian Federal University and their colleagues from Novosibirsk studied nanoparticles' effect on oil production effectiveness. When added to the water that moves oil from a reservoir, nanoparticles advance the separation of oil drops from mine rock and their washing to the surface. The aim was to progress a liquid with special recovery-improving additives. Prior to the experiment, the group equipped nanoliquids created on distilled water and used silicon dioxide (SiO2) and aluminum oxide (Al2O3) powders as nanoparticles.
By Structural Form
Frequently Asked Questions (FAQ) :
The aluminum oxide market would achieve a valuation of USD 70,511.7 million by 2030.
The aluminum oxide market has the scope to grow with 6.68% CAGR during the forecast period of 2016 to 2030.
The powder segment has the opportunity to lead the aluminum oxide market.
The electronics segment would steer the aluminum oxide market ahead.
The 4N segment leads to the aluminum oxide market.