ID: MRFR/CnM/4466-HCR | February 2021 | Region: Global | 100 pages
Aluminum Trihydrate (ATH) Market is anticipated to grow at average CAGR during the forecast period 2017 -2023
Aluminum trihydrate (ATH) is a white crystalline powder produced by dissolving bauxite into sodium hydroxide. It is also termed as hydrate alumina, alumina hydrate, aluminum tri-hydroxide, and aluminum hydroxide. ATH possesses various superior properties such as flame retardant, smoke suppression, thermal conductivity, versatility, and chemical inertness. The product finds application in aluminum, chemicals, adhesives, caulks & sealants, coatings, ink, wires & cables, paper, carpet backing, and rubbers.
Increasing demand for flame retardant products from the major end-use industries such as construction, electrical, automotive, plastic, and textile industry is propelling the growth of the market. Growing construction with the rising investment in infrastructural activities is fuelling the product demand across regions. Furthermore, rising spending on the residential construction coupled with improving living standards and rising per capita disposable income are key factors driving the growth of aluminum trihydrate market. Emerging electronics industry along with the initiatives taken by the government such as internet of things (IoT) and automation are stimulating the ATH demand further. Rising consumer preference towards built-in functions within personal devices is expected to drive the market growth substantially over the forecast period 2017-2023.
Some of the trends noticed among the key players in ATH market includes acquisitions and capacity expansion. For instance, in 2018, Huber Engineered Materials, a part of J.M. Huber Corp, announced a significant capital investment to expand the production capacity of ATH product by 20% under the brand name “Martinal.” This will help the company to expand its business in the Asia Pacific and European region. However, key players in the ATH market are announcing the hike in their ATH products prices due to increasing raw material and labor cost, which may affect the market growth negatively.
Global Aluminum Trihydrate Market Share, by end-use industry (%)
Asia Pacific is the fastest growing region in the global aluminum trihydrate market owing to the growing construction industry along with rising investment in the infrastructure activities by the government. Initiatives taken by the Indian government such as the development of smart cities, construction of Navi Mumbai International Airport and Delhi Mumbai International Airport are likely to augment the market growth. Furthermore, increasing demand for consumer electronic devices as a result of booming digital economy is another factor driving the growth of ATH market. The product consumption is increasing in paints and coatings due to rising demand from the automotive and construction industry.
North America is another prominent region in the aluminum trihydrate market due to the rapidly expanding construction industry in this region. Rising investment in the infrastructural activities by the government such as the redevelopment of the World Trade Centre is further stimulating the market growth.
Europe is expected to drive the aluminum trihydrate market due to rising demand for paints & coatings in the automotive industry in this region. Moreover, booming construction industry with increasing investment in the remodeling of houses and commercial buildings is expected to drive the market growth over the forecast period.
Latin America is witnessing substantial growth in the global aluminum trihydrate market with the growing construction industry in Brazil, Argentina, and Colombia.
The Middle East & Africa is likely to experience rapid growth in the aluminum trihydrate market with rising construction activities mainly in the UAE.
The global aluminum trihydrate market is segmented into the application, end use, and region.
On the basis of the application, the market is segmented into industrial chemicals, caulks & sealants, adhesives, wire & cables, coatings, printing inks, ceramics, and rubber.
Based on the end use industry, the global aluminum trihydrate market is segmented into construction, electrical, automotive, paints & coatings, paper, plastic, textile, pharmaceuticals, and cosmetics & personal care.
On the basis of the region, the aluminum trihydrate market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Some of the key players in the global aluminum trihydrate market are Huber Engineered Materials (J.M. Huber Corporation, U.S.), Alfa Aesar (U.S.), Sumitomo Chemical Co., Ltd (Japan), Albemarle Corporation (U.S.), SHOWA DENKO K.K. (Japan), Alcoa Corporation (U.S.), Aluminium Corporation of China Limited (China), Nabaltec AG (Germany), NALCO (India), and MAL-Hungarian Aluminium Producer and Trading Co.
Frequently Asked Questions (FAQ) :
It finds wide application in rubbers, carpet backing, paper, wires and cables, ink, coatings, caulks and sealants, adhesives, chemicals, and aluminium.
The APAC region is predicted to lead the aluminium trihydrate market.
Growing demand for flame retardant products, rising investment in infrastructural activities, and emerging electronics industry are boosting the market growth.
Increasing labor and raw material cost may limit the aluminium trihydrate market growth.
Notable players profiled in the aluminium trihydrate market include MAL-Hungarian Aluminium Producer and Trading Co., NALCO (India), Nabaltec AG (Germany), Aluminium Corporation of China Limited (China), Alcoa Corporation (U.S.), SHOWA DENKO K.K. (Japan), Albemarle Corporation (U.S.), Sumitomo Chemical Co., Ltd (Japan), Alfa Aesar (U.S.), and Huber Engineered Materials (J.M. Huber Corporation, U.S.).