The global
activated alumina market is fragmented and the top six
manufacturers accounted for a share of over 35% in 2015. Transparency
Market Research has found that these players, namely Albemarle
Corporation, BASF SE, Honeywell Industries Inc., Porocel, Axens, and
Sumitomo Chemicals, have been focused on new product development,
product innovation, and exploring new regions to further their share
in the activated alumina market.
“Some of the top companies in the global activated alumina market
account for an equal market size and share and as a result, they need
to focus on expanding their market share among existing end users,”
the author of the study states.
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Opportunities such as increase in sales force and competitive pricing
are projected to enable companies to stand their ground in an
increasingly competitive environment.
Global Activated Alumina Market to Cross Billion-dollar Mark by
2024
The global demand for activated alumina is expected to reach
618,182.9 tons by 2024, predicts TMR. The sales of activated alumina,
on the other hand, are projected to be worth US$1,108.9 mn by 2024,
rising from US$770.6 mn in 2015. The market is expected to register a
CAGR of 4.2% by value from 2016 to 2024. On the basis of region, Asia
Pacific led the global activated alumina market in 2015 with a 33.0%.
The region is anticipated to retain its lead by volume as well as
value throughout the forecast period.
By end use, the oil and gas industry led the activated alumina market
in terms of sales, accounting for a 30.0% share in 2015. TMR predicts
that the segment is, however, anticipated to lose market share by the
end of the forecast period. The water treatment segment, on the other
hand, is projected to expand at a steady CAGR of 4.8% from 2016 to
2024.
Product Diversification a Key Growth Strategy for Players to
Capitalize On
Activated alumina is a preferred point-of-use or point-of-entry water
treatment device and helps remove various contaminants from water.
“Wastewater treatment is a steadily growing market and the demand
for activated alumina is significantly dependent on its growth,”
states the lead analyst. According to estimates by the United
Nations, around US$103 bn was invested in developing economies alone
to finance wastewater treatment and sanitation in 2015. Thus, the
growing need for effective wastewater treatment infrastructure and
solutions is a key factor driving the activated alumina market.
Apart from this, the market is also fueled by the wide adoption of
activated alumina in the Claus process. However, a considerable
threat from substitutes such as activated carbon, silica gel, and
zeolite is anticipated to hamper the global market.
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“Diversification in terms of product can provide significant
opportunities for new entrants as well as existing players,” the
analyst states. “Current manufacturers of activated alumina will
benefit from focusing on integrated operations so as to strengthen
their foothold. New participants, on the other hand, are likely to
benefit from entering into partnerships and collaborations with
manufacturers of raw materials.”
This review is based on the findings of a TMR report titled
“Activated Alumina Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016 - 2024.”
Activated
Alumina Market, by End Use
- Reaction Catalyst
- Oil & Gas
- Gas Dehydration
- Liquid Dehydration
- Water Treatment
- Biomaterial
- Others (Including Pharmaceutical, etc.)
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