Colloidal Alumina Market Trend Analysis | Forecast 2031

According to latest research by Future Market Insights, colloidal alumina market is set to witness stable growth, registering a CAGR of 2.2% for the period of 2021-2024.

Demand for this product will be witnessing an increase across all major regional markets. Due to the novel applications of alumina, the market for this product is set to grow at a modest pace during the forecast period.

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What is Driving Demand for Colloidal Alumina?

The rising industrialization and macroeconomic growth across Eastern Europe and APAC, has given a major boost to the construction industry, which in turn has resulted in  surging demand for high quality products such as glass, specialty steel, etc. Metallurgy continues to be a lucrative avenue for colloidal alumina manufacturers.

The market is observing a trend of shifting of alumina production to the Asia-Pacific region. This can be correlated to the rising production of bauxite in the region, which serves as the primary raw material for alumina production. Countries like Indonesia, Australia, China, Malaysia, and India are involved in the high volume production of bauxite, which would boost their production of alumina in the region.

Refractory Sector is projected to Drive Colloidal Alumina market

Substantial end-user demand for high-specialty alumina in refractories and requirement of improved substrates used in various end-use industries continue to drive demand for colloidal alumina. Alumina is available in two grades namely, chemical and metallurgical. The former is used in manufacturing of ceramics, refractories, glass, etc. hence the high demand.

North America and Europe Colloidal Alumina Market Outlook

The U.S. accounts for a substantial share of the overall market. The Alumina sales in the region are quite high and make up a high portion of the global market size. Colloidal alumina is a potential binding agent that can replace the traditional refractory castable binders and hence the population has resorted to valuing this commodity.  The markets in both US and Europe felt significant impact owing to the COVID-19 pandemic, with large scale disruption to industrial activities.

China Colloidal Alumina Market Outlook

An increase in the demand for the product is forecasted for China as well, given it is the most prominent consumer of the product in the world. The growing need of the this product from the large scale aluminium smelters leads to significant growth for the market. The country has been quick to open up its industry after the pandemic was brought under control in the later part of 2020 and since begun to stimulate the economy back to pre-pandemic levels.

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Who are the Key Manufacturers and Suppliers of Colloidal Alumina?

Some of the leading manufacturers and suppliers of colloidal alumina include

• Almatis
• Aluchem
• Bisley and Company
• KT Refractories US Company
• Possehi Erzkontor

Key Segments of Colloidal Alumina Market