PUBLISHER: Orion Market Research | PRODUCT CODE: 1327627
PUBLISHER: Orion Market Research | PRODUCT CODE: 1327627
Global Aluminum Hydroxide Market 2023-2030
Title: Global Aluminum Hydroxide Market Size, Share & Trends Analysis Report by Type (Industrial Grade, Pharmaceutical Grade, and Others (Reagent grade)), and by End-User Industry (Plastics, Pharmaceuticals, Coatings, Adhesives, Sealants and Elastomers, and Others (Chemical))Forecast Period (2023-2030).
The global aluminum hydroxide market is anticipated to grow at a CAGR of 6.8% during the forecast period. The growing incidence of gastrointestinal disorders is driving the demand for aluminum hydroxide in the pharmaceutical market, which further results in increase in fatalities due to digestive diseases globally. According to the World Health Organization (WHO), in 2020, mortalities around 1,23,648 were caused due to digestive diseases only in the US. Additionally, in the UK the number reached up to 31,588 in 2020. Increasing mortality rate due to peptic ulcer disease In the US, the mortality number was 3780 in 2020 increased by 787 in 2019. Aluminum Hydroxide is used to treat symptoms in patients such as peptic ulcer, gastritis, esophagitis, hiatal hernia, or too much acid in the stomach (gastric hyperacidity). Some market players are offering aluminum hydroxide-based peptic ulcers treatments including Antacid (aluminum-magnesium)®, Antacid M®, Antacid Suspension®, Gen-Alox®, Maldroxal®, Mylanta® Ultimate, Ri-Mox®, Rulox®, and others.
Segmental Outlook
The global aluminum hydroxide market is segmented based on its type and end-user industry. Based on its type, the market is sub-segmented into industrial grade, pharmaceutical grade, and others (reagent grade). Further, based on the end-user industry, the market is sub-segmented into plastics, pharmaceuticals, coatings, adhesives, sealants and elastomers, and others (chemical). Among the type, the industrial grade sub-segment is anticipated to hold a prominent market share, owing to the increasing use of aluminum hydroxide as a buffering agent in many industrial processes including agriculture, food processing, medicine, and photography.
Pharmaceuticals Sub-Segment is Anticipated to Hold a Prominent Share in the Global Aluminum Hydroxide Market
Among the end-user industry, the pharmaceutical sub-segment is anticipated to hold a prominent share in the global aluminum hydroxide market. The segmental growth is led by the increasing aging population, rising awareness of digestive health, and increasing gastrointestinal disorder such as acid reflux, gastroesophageal reflux disease (GERD), and peptic ulcers. According to the World Gastroenterology Organization, 49% of females and 36.6% of males met criteria for at least one functional gastrointestinal disorders in all regions being functional constipation prevalence rates at 11.7%, functional dyspepsia prevalence rates at 7.2%. In addition, aluminum hydroxide is insoluble in water and organic solvents, which makes it useful as an antacid to neutralize hydrochloric acid in gastric secretions. Aluminum hydroxide is an antacid used such as Almacone, Derma Gran, Gelusil, Maalox Plus, Mi-acid, Mi-acid Double Strength, Mintox Plus for the relief of heartburn, acid indigestion, and sour stomach.
Regional Outlooks
The global aluminum hydroxide market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). Among these, North America is anticipated to hold a prominent share over the forecast period, owing to the increasing usage in polymer applications, primarily as fire retardants, and increasing safety standards in building construction.
The Asia-Pacific Region is Anticipated to Hold a Significant Share in the Global Aluminum Hydroxide Market
Among all the region, the Asia-Pacific region is anticipated to account for a significant share of the aluminum hydroxide market during the forecast period. One of the major factor driving the market growth includes the increasing use of aluminum hydroxide as a flame retardant material to meet the regulations and enhance fire safety across various industries, including construction, automotive, and electronics. In addition, the market players are continuously entering into partnership, collaboration and acquisition is also attributing to growth of market in this region. For instance, in July 2022, Aluminum Corp. of China Ltd. (Chalco) announced 19% acquisition of the shares of Yunnan Aluminum. The acquisition aims to strengthen the company's financial performance and raised the competitiveness and value of its most significant assets, and also integrated and better management in the aluminum hydroxide and electrolytic aluminum sectors.
Market Players Outlook
The Report Covers:
Table of Contents
1. Report Summary
- Current Industry Analysis and Growth Potential Outlook
- 1.1. Research Methods and Tools
- 1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region
2. Market Overview and Insights
- 2.1. Scope of the Report
- 2.2. Analyst Insight & Current Market Trends
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
LIST OF TABLES
- 1. GLOBAL ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
- 2. GLOBAL INDUSTRIAL GRADE ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 3. GLOBAL PHARMACEUTICAL GRADE ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 4. GLOBAL OTHER TYPE OF ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 5. GLOBAL ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2022-2030 ($ MILLION)
- 6. GLOBAL ALUMINUM HYDROXIDE FOR PLASTICS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 7. GLOBAL ALUMINUM HYDROXIDE FOR PHARMACEUTICALS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 8. GLOBAL ALUMINUM HYDROXIDE FOR COATINGS, ADHESIVES, SEALANTS AND ELASTOMERS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 9. GLOBAL ALUMINUM HYDROXIDE FOR OTHERS INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 10. GLOBAL ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
- 11. NORTH AMERICAN ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
- 12. NORTH AMERICAN ALUMINUM HYDROXIDE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
LIST OF FIGURES
