PUBLISHER: The Business Research Company | PRODUCT CODE: 1599022
PUBLISHER: The Business Research Company | PRODUCT CODE: 1599022
Specialty alumina refers to a class of high-purity alumina products that are engineered for specific industrial applications. Specialty alumina is primarily produced from bauxite ore, which is refined into aluminum oxide through the Bayer process. The refined aluminum oxide is then treated in various ways to produce different grades of specialty alumina, each optimized for particular uses.
The specialty alumina market consists of sales, by entities (organizations, sole traders or partnerships), of specialty alumina products that are characterized by their controlled particle size distribution and purity levels, making them suitable for use in various sectors.
The global specialty alumina market was valued at $2,485.26 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.00%.
Steady Expansion Of The Automotive Industry
A steady expansion of the automotive industry boosted the growth of the specialty alumina market during the historic period. The rising demand for automobiles has heightened the need for advanced materials that provide durability, heat resistance and lightweight properties. Specialty alumina is essential for manufacturing automotive components such as engine parts and brakes, enhancing vehicle performance and fuel efficiency. Additionally, the automotive industry's transition to electric vehicles drives demand for specialty alumina, as these vehicles require lightweight, heat-resistant materials to optimize battery performance and extend range. For instance, according to the sales database of EV Volumes, a UK-based database of sales statistics, charging infrastructure, batteries, car models and sales forecasts for plug-in cars, global electric vehicle (EV) sales surged by 55% in 2022, totaling 10.5 million units, including both battery electric vehicles (BEVs) and plug-in hybrids (PHEVs). China led the market with an 82% increase in new EV sales compared to the previous year, capturing 59% of global sales. This growth solidifies China's position as the world's largest electric vehicle market and producer, accounting for 64% of the total global EV production. Additionally, according to MarkLines Data Center, a Japan-based advertising agency that provides forecast reports of the automotive market and the industry, sales of new cars in the United States for October 2022 were 1,185,280 units, up 6% from September 2022 and an increase of 11.5% from 1,062,687 in October 2021. Therefore, a steady expansion of the automotive industry contributed to the growth of the specialty alumina market.
Introduction Of New Specialty Alumina Brands To Enhance Performance In Advanced Ceramics Applications
Major companies in the specialty alumina market are focusing on the introduction of new specialty alumina brands to enhance performance in advanced ceramics applications. These new product lines are designed to offer superior thermal stability, mechanical strength and wear resistance, making them ideal for use in high-tech ceramics required in industries such as electronics, automotive and aerospace. For instance, in October 2023, Alteo Alumina, a France-based specialty non-metallurgical-grade alumina production company, launched its HYCal brand, expanding its specialty alumina offerings for advanced ceramics. HYCal products are designed to deliver consistent quality, ensuring reliability across various applications. The range provides high-performance results, particularly in mechanical and dielectric performance for high-alumina ceramics used in multiple industries. Additionally, HYCal offers tailored solutions to meet specific customer needs, reinforcing Alteo's commitment to innovation and customer support.
The global specialty alumina market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 60.59% of the total market in 2023.
Specialty Alumina Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global specialty alumina market as it emerges from the COVID-19 shut down.
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 history and forecasts market growth by geography. It places the market within the context of the wider specialty alumina market; and compares it with other markets.