According to latest research by Future Market Insights, colloidal alumina market is set to witness stable growth, registering a CAGR of 2.2% for the period of 2021-2024.
Demand for this product will be witnessing an increase across all major regional markets. Due to the novel applications of alumina, the market for this product is set to grow at a modest pace during the forecast period.
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What is Driving Demand for Colloidal Alumina?
The rising industrialization and macroeconomic growth across Eastern Europe and APAC, has given a major boost to the construction industry, which in turn has resulted in surging demand for high quality products such as glass, specialty steel, etc. Metallurgy continues to be a lucrative avenue for colloidal alumina manufacturers.
The market is observing a trend of shifting of alumina production to the Asia-Pacific region. This can be correlated to the rising production of bauxite in the region, which serves as the primary raw material for alumina production. Countries like Indonesia, Australia, China, Malaysia, and India are involved in the high volume production of bauxite, which would boost their production of alumina in the region.
Also, the high-volume of steel production and consumption in countries such as Russia, India, China, U.S.A, and United Kingdom would further drive the demand for alumina at the primary refractory level, thus providing growth stimulus to the market.
Refractory Sector is projected to Drive Colloidal Alumina market
Substantial end-user demand for high-specialty alumina in refractories and requirement of improved substrates used in various end-use industries continue to drive demand for colloidal alumina. Alumina is available in two grades namely, chemical and metallurgical. The former is used in manufacturing of ceramics, refractories, glass, etc. hence the high demand.
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Who are the Key Manufacturers and Suppliers of Colloidal Alumina?
Some of the leading manufacturers and suppliers of colloidal alumina include
- Almatis
- Aluchem
- Bisley and Company
- KT Refractories US Company
- Possehi Erzkontor
Colloidal Alumina Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumersz
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