The growing industrial application of the product will drive industry revenue during the projected period., says this report.
Selbyville, Delaware, May 17, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the Activated Alumina Market was estimated at $146.2 million in 2020 and is slated to exceed $260 million by 2027, registering a CAGR of 8.2% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Activated alumina offers various benefits such as low abrasion, high crush strength, excellent surface area to weight ratio, thermal shock resistance, good resistance to chemical attack, high porosity, and low-pressure drops. These properties open up numerous applications in the chemical industry as a source of filtration, catalyst or as an adsorbent. For instance, activated alumina is primarily used as a catalyst to produce polyethylene and hydrogen peroxide.
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The Asia Pacific accounts for more than 60% of the global chemical production, led by China. The growing chemical industry mainly in emerging economies, such as India, Brazil, Indonesia, is expected to have a positive impact on the activated alumina market share during the forecast period.
The desiccant segment will witness over 7.5% CAGR through 2027. The product can absorb water from the air, allowing the product to be used as a desiccant. It can capture and trap water molecules present in the air in order to keep things dry. Activated alumina is able to adsorb close to 20% of its weight in water when the relative humidity is at 50%. It is used for the removal of water vapor from gases in various industrial applications can be reused by removing the water content from activated alumina by thermal treatment.
The chemical segment will witness significant growth in the activated alumina market. It is used as acid and residue monomer adsorption for reaction streams involving gases and liquids, as a desiccant for drying of inorganic and organic liquids and gases, and in chromatography for its adsorbent property.
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Europe will hold over 20% share in the activated alumina market. Stringent laws and directives related to wastewater treatment, drinking water directive, and water framework directives are expected to drive the market for activated alumina, which is used for water purification. Moreover, various countries in Europe are investing heavily in setting up new water treatment facilities in order to minimize pressure on existing freshwater bodies. Development in the chemical industry coupled with increasing oil & gas consumption will propel the regional product usage.
Key industry players in the activated alumina industry are Sumitomo Chemical Co., Ltd., BASF SE, Huber Engineered Materials, Axens, Honeywell International Inc., Sorbead India, Camfil, DYNAMIC ADSORBENTS, INC., CHALCO Shandong Advanced Material Co., Ltd., Porocel Industries LLC, Shandong Zhongxing New Material Technology Co., Ltd. Jiangsu Jinging New Material Co., Ltd., and Global Adsorbents Private Limited.
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