Aluminum Oxide Market - Growth, Trends, and Forecast (2022 - 2030)
Market Overview
The aluminum oxide market is expected to grow at a CAGR of around 5.2% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are the increasing demand from pharmaceutical & industrial manufacturing sector, and growing production of porous ceramics. On the flipside, increasing health risks due to exposure to aluminum oxide remains one of the major concerns for the studied market.
- The medical & pharmaceutical segment dominated the market in 2018 and is likely to grow during the forecast period, with the increasing investments into the healthcare industry across the globe.
- The huge potential as biomaterial in the medical industry is likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe, where the demand for aluminum oxide is drive by the growing demand from industries, such as medical, industrial manufacturing and electronics.
Key Market Trends
Medical & Pharmaceutical Segment to Dominate the Market Demand
- Aluminum oxide is majorly used in transplants, making dental cement, and in hemodialysis in the medical sector.
- There has been a significant increase in the demand for such treatments due to the continuous surge in the number of health and dental issues, globally, primarily due to the rise in the aging population. With this, the demand and consumption of aluminum oxide in the medical sector has been increasing.
- Besides, with the growing investments into the medical & pharmaceutical industry in regions, such as Asia-Pacific and the Middle East, the aluminum oxide is further increased from the medical & pharmaceutical industry.
- The countries, such as India, South Korea, and ASEAN countries have been witnessing substantial investment into the medical & pharmaceutical industry, which is expected to provide robust growth to demand of aluminum oxide in the region.
- In North America, the demand for medical & pharmaceutical products is high due to the rapidly increasing proportion of the aging population in the region, and therefore high demand for medical assistance.
- Besides, with an aim to develop non-oil sectors for reducing excess dependency on oil sector, one of the major focus of the Middle Eastern countries is on the development of healthcare industry, which is expected to provide robust demand for aluminum oxide from the medical industry in the region in the years to come.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share in 2018. The increasing investments and production in the end-user industries, such as medical & pharmaceuticals, electronics, industrial manufacturing, etc., are driving the demand for aluminum oxide in the region.
- China holds the world largest industrial manufacturing base, and is the largest electronic producer in the world. The country not only supports the domestic demand, but also caters to the demand in international markets. Thus, with growing demand for industrial products, and electronic products across the globe, industrial output in China is also increasing.
- Besides, countries like India, South Korea, and Japan, are also witnessing substantial increase in the demand for aluminum oxide.
- In India and South Korea, investments into healthcare and electronics industry, production of pharmaceuticals, and growing ceramic demand and production, are driving the demand for aluminum oxide.
- Whereas, in Japan domestic pharmaceutical industry is strong, and continuously invests huge resources & time into research, development, and commercialization of industrial, electronics, and pharmaceutical products, which has been driving the demand for aluminum oxide for application in the products of such industries in the country.
- Thus, all such factors are expected to drive the demand for the market studied in the region during the forecast period.
Competitive Landscape
The aluminum oxide market is a consolidated market, where few players account for significant share of the market demand. Some of the major players in the market include Aluminum Corporation of China Limited (CHALCO), Xinfa Group Co. Ltd., Rusal, Rio Tinto, and Alcoa Corporation, amongst others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The aluminum oxide market is expected to grow at a CAGR of around 5.2% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are the increasing demand from pharmaceutical & industrial manufacturing sector, and growing production of porous ceramics. On the flipside, increasing health risks due to exposure to aluminum oxide remains one of the major concerns for the studied market.
- The medical & pharmaceutical segment dominated the market in 2018 and is likely to grow during the forecast period, with the increasing investments into the healthcare industry across the globe.
- The huge potential as biomaterial in the medical industry is likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe, where the demand for aluminum oxide is drive by the growing demand from industries, such as medical, industrial manufacturing and electronics.
Key Market Trends
Medical & Pharmaceutical Segment to Dominate the Market Demand
- Aluminum oxide is majorly used in transplants, making dental cement, and in hemodialysis in the medical sector.
- There has been a significant increase in the demand for such treatments due to the continuous surge in the number of health and dental issues, globally, primarily due to the rise in the aging population. With this, the demand and consumption of aluminum oxide in the medical sector has been increasing.
- Besides, with the growing investments into the medical & pharmaceutical industry in regions, such as Asia-Pacific and the Middle East, the aluminum oxide is further increased from the medical & pharmaceutical industry.
- The countries, such as India, South Korea, and ASEAN countries have been witnessing substantial investment into the medical & pharmaceutical industry, which is expected to provide robust growth to demand of aluminum oxide in the region.
- In North America, the demand for medical & pharmaceutical products is high due to the rapidly increasing proportion of the aging population in the region, and therefore high demand for medical assistance.
- Besides, with an aim to develop non-oil sectors for reducing excess dependency on oil sector, one of the major focus of the Middle Eastern countries is on the development of healthcare industry, which is expected to provide robust demand for aluminum oxide from the medical industry in the region in the years to come.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share in 2018. The increasing investments and production in the end-user industries, such as medical & pharmaceuticals, electronics, industrial manufacturing, etc., are driving the demand for aluminum oxide in the region.
- China holds the world largest industrial manufacturing base, and is the largest electronic producer in the world. The country not only supports the domestic demand, but also caters to the demand in international markets. Thus, with growing demand for industrial products, and electronic products across the globe, industrial output in China is also increasing.
- Besides, countries like India, South Korea, and Japan, are also witnessing substantial increase in the demand for aluminum oxide.
- In India and South Korea, investments into healthcare and electronics industry, production of pharmaceuticals, and growing ceramic demand and production, are driving the demand for aluminum oxide.
- Whereas, in Japan domestic pharmaceutical industry is strong, and continuously invests huge resources & time into research, development, and commercialization of industrial, electronics, and pharmaceutical products, which has been driving the demand for aluminum oxide for application in the products of such industries in the country.
- Thus, all such factors are expected to drive the demand for the market studied in the region during the forecast period.
Competitive Landscape
The aluminum oxide market is a consolidated market, where few players account for significant share of the market demand. Some of the major players in the market include Aluminum Corporation of China Limited (CHALCO), Xinfa Group Co. Ltd., Rusal, Rio Tinto, and Alcoa Corporation, amongst others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
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