The global alumina market is expected to reach USD 74.13 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the growing applications of alumina among end-use applications.
Alumina finds extensive application in the production of metal aluminum, which finds application in a huge variety of commercial sectors. It is commonly used in both cast forms and wrought. The lightweight of aluminum makes it a suitable choice for use in the automotive and aerospace industry. It is also resistant to corrosion, which leads to its use in food and chemical handling and architectural purposes. Aluminum is an excellent electrical conductor and thus is used frequently in electrical transmission lines.
Top Companies Operating in the Global Alumina Market:
Alcoa Corporation, Rio Tinto PLC, Almatis BV, United Company RUSAL PLC, Hindalco Industries Ltd., Alumina LTd., CVG Bauxilum CA, Norsk Hydro ASA, National Alminium Company Ltd., and Aluminum Corporation of China Ltd.
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Further key findings from the report suggest
- By product type, metallurgical-grade alumina contributed to the larger market share in 2020. It is used in the production of aluminum metal, which finds widespread application in several industries, such as automotive, aerospace, and construction, among others.
- By distribution channel, the online distribution channel is likely to grow at a faster growth rate of 1.9% in the forecast period.
- By application, ceramics held a substantial market share in 2020 and is projected to grow at a rate of 1.5% in the period 2019-2028. Ceramics made from alumina are utilized in resistor cores in the electronics industry, heavy-duty forming tools, tiles for wear protection, seal and regulator discs for water taps, and thread guides in textile engineering, among others.
- The market in the Asia Pacific region dominated the market in 2020 and is expected to grow at a rate of 3.0% in the forecast period. The market dominance of the APAC region is owing to the growth of the end-user industries, as well as the presence of leading market players.
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The Alumina market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Alumina market.
The global Alumina market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Metallurgical-Grade
- Tabular
- Calcined
- Reactive
- Fused
Distribution Channel Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Offline
- Online
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Refractories
- Metallurgy
- Ceramics
- Abrasives
- Others
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