Activated Alumina Market to Perceive Substantial Growth During 2024
The
world market for activated alumina is projected to be highly
competitive with many crucial market players vying to withstand the
market competition with innovative product offerings and by improving
the functionality of their already existing products. Sponsorship of
industry events and various long term lighting contracts are some of
the significant growth strategies for the success of this market.
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Activated
alumina is mostly utilized as a reaction catalyst, in the industry of
oil and gas, and for the purpose of treatment of water. Rising
investments in the infrastructure treatment of water and the ever
growing demand for oil and gas have been influencing the demand for
activated alumina over the last few years.
Some
of the eminent names in the world market for activated alumina are
BASF SE, Sumitomo Che, Axens, Honeywell International Inc., Porocel
Industries, and Albemarle Corporation.
In
accordance with a report by Transparency Market Research, the world
market for demand for activated alumina is to reach around 618,182.9
tons by the year 2024. However, on the other hand, the sales of
activated alumina, on the other hand, are estimated to be worth
around US$ 1,108.9 mn by the year 2024, rising from an earlier
valuation of US$ 770.6 mn in the year 2015. The market is anticipated
to register a growth rate of 4.2% CAGR by value from the year 2016 to
the year 2024.
activated-alumina-marketAsia
Pacific is Estimated to Continue with its Regional Supremacy
The
world market for activated alumina has been categorized into five
major geographies of North America, Asia Pacific, Europe, South
America, and the Middle East and Africa. Asia Pacific held for more
than around 30% of the total activated alumina international market
in the year 2015. Asia Pacific has emerged as a prominent regional
segment that very year. The burgeoning demand for activated alumina
in the industries of oil and gas and water treatment and a surge in
the taking up of activated alumina in various sulfur recovery units
have been driving the said market in the region of Asia Pacific.
The
market for activated alumina in the regions of North America and
Europe are further expected to register sound growth over the period
of forecast. The U.S. comprised a substantial share of the world
market for activated alumina in the year 2015. The US suffers from
excess fluorine in water and it has been a major concern in the U.S.
It is estimated that around more than 60% of the total American
population consumes fluoridated water. There has been an increase in
the production of oil and gas in the US and as such, it is also
projected to propel the demand for activated alumina in the U.S. The
adoption of activated alumina has been substantially high in
countries like China and the said country plays a crucial role in the
progress of the international market for activated alumina.
Growing
Need for Effective Wastewater Treatment Infrastructure to Fuel Market
Growth
Activated
alumina is the chosen point-of-entry or point-of-use water treatment
device and it assists in the removal of various contaminants from
water. In accordance with the TMR report, wastewater treatment is
considered to be a steadily growing market and the requirement for
activated alumina is substantially dependent on its growth. In
accordance with the estimates by the United Nations, around US$ 103
bn was being invested in many of the developing economies alone so as
to finance wastewater treatment and sanitation in the year 2015.
Thus, the rising need for effective and efficient wastewater
treatment infrastructure and solutions is considered a key factor
that is fuelling the world market for activated alumina.
In
addition to this, the said market is also driven by the extensive
adoption of activated alumina in the Claus process. Nevertheless,
substantial threat from the substitutes like zeolite, silica gel, and
activated carbon is expected to restrain the said market.
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The
water treatment industry has bolstered the demand for activated
alumina. Activated alumina is also utilized for the purpose of
selective adsorption of heavy metals like lead, uranium, selenium,
and arsenic from water streams. It is also utilized for the purpose
of de-fluorination of water.
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Email: sales@transparencymarketresearch.com
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