PUBLISHER: The Business Research Company | PRODUCT CODE: 1428025
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428025
Specialty alumina refers to engineered aluminum oxide materials with high purity, specifically tailored to possess distinct characteristics and properties suitable for diverse industrial applications. Derived from bauxite ore through a refining process, specialty alumina undergoes further processing and customization to meet specific requirements.
The primary types of specialty alumina include standard calcined alumina, tabular alumina, white fused alumina, medium soda calcined alumina, low soda alumina, and others. Standard calcined alumina is processed at high temperatures, ensuring a controlled particle size distribution and purity. These specialty alumina types find applications in various industries, including the production of refractory materials, ceramics, abrasives and polishing, catalysts, and others. End users span across diverse sectors such as automotive, aerospace, chemicals, and industrial applications.
The specialty alumina market research report is one of a series of new reports from The Business Research Company that provides specialty alumina market statistics, including specialty alumina industry global market size, regional shares, competitors with a specialty alumina market share, detailed specialty alumina market segments, market trends, and opportunities, and any further data you may need to thrive in the specialty alumina industry. This specialty alumina research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The specialty alumina market size has grown steadily in recent years. It will grow from $2.76 billion in 2023 to $2.87 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth observed during the historical period can be attributed to the increased demand in the refractories industry, the expansion of the electronics and semiconductors sector, greater utilization in ceramics production, advancements in catalysts production, and developments in surface treatment applications.
The specialty alumina market size is expected to see steady growth in the next few years. It will grow to $3.31 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The anticipated growth in the forecast period can be attributed to the increasing demand for electric vehicles (EVs), a growing market for advanced ceramics, the expansion of the renewable energy sector, heightened utilization in biomedical applications, ongoing infrastructure development projects, and an increasing demand for sapphire substrates. Major trends expected in the forecast period include a focus on value-added products, ongoing product innovations, adherence to stringent quality standards, and increased investments in research and development.
The specialty alumina market is poised for growth, driven by the expanding aerospace and defense industry. This industry encompasses the development, production, and maintenance of aerospace systems, including aircraft, spacecraft, missiles, rockets, and related components, as well as defense systems and equipment. Specialty alumina, valued for its high strength, lightweight properties, and exceptional thermal resistance, finds extensive use in manufacturing various aerospace and defense components. Applications range from turbine blades and engine components to bearings, seals, and structural parts. In November 2022, the Airspace Industries Association (AIA) reported that the aerospace and defense industry generated $892 billion in combined sales in 2021, marking a 2.1% increase over the previous year. Exports from the sector also rose by 11.2% to $100.4 billion, underscoring the positive impact on the specialty alumina market.
The specialty alumina market is set to benefit from the growth in automotive production. Automotive production involves the manufacturing of vehicles, encompassing cars, trucks, motorcycles, and other motor vehicles. Specialty alumina, known for its exceptional hardness, wear resistance, and thermal conductivity, plays a crucial role in enhancing the performance and durability of key automotive components. This includes catalytic converters, spark plug insulators, and brake components. Reports from the European Automobile Manufacturers Association (ACEA) in May 2023 revealed a global production of 85.4 million motor vehicles, representing a 5.7% increase compared to the previous year. The rising automotive production is identified as a key driver for the specialty alumina market.
Product innovation emerges as a prominent trend in the specialty alumina market, with major companies focusing on advancements such as HYCal to maintain their market position. Carborundum Universal Limited, an India-based engineering company, introduced CUMI Monk in March 2023, utilizing advanced fusion methods with specialty alumina and special additives. CUMI Monk Monocrystalline Alumina, a single crystal of alpha-phase alumina with minimal grain boundaries, offers rough surfaces with strong cutting edges, resulting in improved bonding and sharper cutting actions compared to conventional alumina grains.
Major players in the specialty alumina market are investing in innovations such as nano-structured alumina catalyst support technology to deliver consistent quality, high performance, and tailored solutions for advanced ceramics. Nano-structured alumina catalyst support technology involves engineering alumina materials at the nanoscale to serve as catalyst support. Unifrax LLC, a US-based provider of specialty materials, introduced Eco-lytic in April 2021, leveraging nano-structured alumina to facilitate faster and more efficient conversion of harmful pollutants into harmless water vapor and carbon dioxide.
In January 2021, UMS Group, a US-based mining company, completed the acquisition of Alteo for an undisclosed amount. This strategic move is expected to fortify UMS Group's financial position in the markets and expedite its expansion plans. Alteo Holding, a France-based chemicals company and a leading producer of specialty alumina, aligns with UMS Group's objectives in the specialty alumina market.
Major companies operating in the specialty alumina market report are Rio Tinto Group, Aluminum Corporation of China Limited, Hindalco Industries Limited, Norsk Hydro, Sumitomo Chemical Co Ltd., Hongqiao, Rusal, Alcoa Corporation, Showa Denko, South 32, Emirates Global Aluminum, Nippon Light Metal Holdings Company Ltd., JM Huber Corporation, National Aluminum Company Limited, BASF SE, Almatis GmbH, ALTEO, Nabaltec AG, PT Indonesia Chemical Alumina, AluChem, Silkem doo, MOTIM Electrocorundum Ltd., Xinfa Group, Gujarat Credo Alumina Chemicals Pvt. Ltd., Hangzhou Jinjiang Group
Asia-Pacific was the largest region in the specialty alumina market in 2023. The regions covered in the specialty alumina market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the specialty alumina market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The specialty alumina market consists of sales of brown fused alumina, high purity, ceramic matrix composites, and dry milled and ground specialty alumina products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Specialty Alumina Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on specialty alumina market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for specialty alumina ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The specialty alumina market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.