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According to the latest report by IMARC Group, titled “Aluminum Oxide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the aluminum oxide market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.The global aluminum oxide market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.06 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
Aluminum oxide, also known as alumina (Al2O3), refers to a white and odorless chemical compound generally present in various forms, including powder, pellets, tablets, pieces, nanoparticles, sputtering targets, etc. It is commonly used as an electric insulator, abrasive, and protective layer in industrial manufacturing processes to protect devices from weathering. Aluminum oxide also finds applications in chromatography and ceramic materials owing to its high thermal conductivity. It is the preferred material in bearings of hip replacements, bionic implants, prosthetic eye substitutes, tissue reinforcements, dental crowns, etc., on account of its bio-inertness and chemical properties. Consequently, aluminum oxide is widely used in lab equipment and tools, such as crucibles and furnaces.
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Global Aluminum Oxide Market Trends:
The growing threat to flora, fauna, and human life across the globe from environmental pollutants is one of the key factors driving the aluminum oxide market. In line with this, the escalating product demand to eliminate toxic pollutants effectively is further propelling the market growth. Moreover, the expanding investments in the healthcare sector by government bodies across numerous countries are acting as significant growth-inducing factors. Besides this, the rising applications of aluminum oxide in the construction, container packaging, electrical engineering, and smelting process are also positively influencing the global market. Additionally, several key market players are collaborating and forming alliances to focus on commercialization and large-scale production, which is anticipated to bolster the aluminum oxide market over the forecasted period.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Alcoa Corporation
- Aluminum Corporation of China Limited
- BASF SE
- Cabot Corporation
- Evonik Industries AG
- Hangzhou Jinjiang Group Co. Ltd.
- Honeywell International Inc.
- J.M. Huber Corporation
- Merck KGaA
- Sasol Limited
- Sumitomo Chemical Co. Ltd.
- W.R. Grace & Co.
Key Market Segmentation:
- Sputtering Targets
- Aluminum Smelting
- Aluminum Chemicals
- Engineered Ceramics
- Industrial Manufacturing
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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