Aluminum Oxide Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Aluminum Oxide Market Analysis
The Aluminum Oxide market is expected to register a CAGR of over 4% during the forecast period.
The COVID-19 had a significant negative impact on the aluminum oxide market in 2020. It hurt industry growth because it messed up the supply chain around the world.But the bright future of the auto industry has made more people want aluminum, which has pushed up the demand for aluminum oxide.
- The market that was looked at is growing because there is more demand from the pharmaceutical and industrial manufacturing sectors and more porous ceramics are being made.
- But one of the biggest worries about the market that was looked at is that the health risks from aluminum oxide are getting worse.
- During the forecast period, the market that was looked at is likely to have opportunities due to the huge potential of biomaterials in the medical industry.
- Due to rising demand from the medical, industrial manufacturing, and electronics industries, Asia-Pacific ruled the world market.
Aluminum Oxide Market Trends
This section covers the major market trends shaping the Aluminum Oxide Market according to our research experts:
Aluminum Smelting Segment to Dominate the Market Demand
- Aluminum oxide is mostly used in the smelting process to make aluminum. In fact, almost 90% of all aluminum oxide made is used in the aluminum smelting industry.The aluminum oxide is used to produce the primary aluminum metal at a ratio of 2:1 (2 metric tons of alumina produce 1 metric ton of aluminum).
- Aluminum is the second most used metal in the world. It is mostly used in transportation, building and construction, electrical engineering, container packaging, and other industries because it is strong, lightweight, and can be recycled.
- Together, the two aluminum companies set up a joint venture called Elysis to improve this technology so that it can be used on a larger scale and sold to the public. They plan to sell a package of this technology starting in 2024.
- Apple joined forces with these two aluminum companies and the governments of Canada and Quebec to invest USD 144 million in research and development for the future.
- In 2021, the United States produced less than 2% of the world's primary aluminum and was the ninth largest producer of primary aluminum. In 2021, the primary aluminum smelters in the United States ran at 55% of the industry's rated production capacity, compared to 95% in Canada and 88% around the world.Moreover, in 2021, more than 75% of domestic supply came from secondary smelters.
- Also, China made 38.5 million tons of primary aluminum in 2021, which was 3.8% more than in 2020. Due to the ongoing power shortages, China's aluminum smelters and refineries have had trouble getting their work done.
- Based on the above, it seems likely that the need for segmentation will grow during the forecast period.
Asia-Pacific Region to Dominate the Market
- Due to more investments and production in end-user industries like medicine and pharmaceuticals, electronics, industrial manufacturing, etc., the Asia-Pacific region had the largest share of the global aluminum oxide market.
- China has one of the fastest-growing economies in the world, and almost all end-user industries have been growing because of the country's growing population, higher living standards, and higher income per person. But because of turbulence in international trade and bad geopolitical events, the growth rate is likely to slow down in the first few years of the forecast period. But the growth is expected to speed up toward the end of the forecast period, when conditions and relationships are expected to improve.
- China is the world's top producer of aluminum oxide. Southwest China's Guizhou province is increasingly becoming the largest producer, due to friendly policies and the easy availability of raw materials. Guizhou's abundant bauxite resources have given it an edge in developing aluminum production, as bauxite is the raw material used to produce aluminum products in many industrial processes.
- In 2021, China was the biggest producer of primary aluminum, making about 39 million metric tons. This was a lot more than any other country. In July 2022, China's primary aluminum production rose 5.6% to a record monthly high of 3.43 million metric tons from a year earlier, with smelters ramping up production as power restrictions were eased.
- Also, the World Bureau of Metal Statistics says that in 2021, Japan made about 786.6 thousand metric tons of secondary aluminum, which is about 96.4 thousand tons more than the year before.
- Therefore, all of these things should drive the demand for the studied market in the region over the next few years.
Aluminum Oxide Industry Overview
The global aluminum oxide market is consolidated, with the top five players accounting for a significant share of the global market. Some of the major players in the market include Aluminum Corporation of China Limited (CHALCO), Xinfa Group Co. Ltd., China Hongqiao Group Limited, Sasol, and Alcoa Corporation, among others (not in any particular order).
Aluminum Oxide Market Leaders
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Aluminum Corporation of China Limited (CHALCO)
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Xinfa Group Co. Ltd
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Alcoa Corporation
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China Hongqiao Group Limited
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Sasol
*Disclaimer: Major Players sorted in no particular order
Aluminum Oxide Market News
- October 2022: Rio Tinto announced that it is partnering with the Government of Canada to invest up to CAD 737 million (USD 537 million) over the next eight years to decarbonize its Rio Tinto Fer et Titane (RTFT) operations in Sorel-Tracy, Qu茅bec, and to position the business as a center of excellence for critical minerals processing.
- June 2022: Alcoa announced a USD 51 million project to increase production capacity at its plant in Mosjoen, Norway. With the investment, the company wants this to increase to 214,000 tons by the end of 2026.
Aluminum Oxide Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 High Demand from Pharmaceutical and Industrial Manufacturing Processes
4.1.2 Increasing Demand from Ceramic Industries for Producing Porous Ceramics
4.2 Restraints
4.2.1 Increasing Health Risks due to Exposure to Aluminum Oxide
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Feedstock Analysis
4.6 Technological Snapshot
4.7 Government Regulations and Policies
4.8 Trade Analysis
4.9 Price Index
5. MARKET SEGMENTATION ( Market Size in Volume)
5.1 Structural Form Type
5.1.1 Nanoparticles
5.1.2 Powder
5.1.3 Pellets
5.1.4 Tablets
5.1.5 Sputtering Targets
5.2 Application
5.2.1 Aluminum Smelting
5.2.2 Abrasive
5.2.3 Aluminum Chemicals
5.2.4 Engineered Ceramics
5.2.5 Refractories
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alcoa Corporation
6.4.2 Aluminum Corporation of China Limited (CHALCO)
6.4.3 China Hongqiao Group Limited
6.4.4 East Hope Group (Oriental Hope)
6.4.5 Emirates Global Aluminum PJSC
6.4.6 Hangzhou Jinjiang Group Co. Ltd.
6.4.7 Hindalco Industries Limited (Aditya Birla Group)
6.4.8 NALCO India
6.4.9 Norsk Hydro ASA
6.4.10 Rio Tinto
6.4.11 RUSAL
6.4.12 Sasol
6.4.13 South32
6.4.14 Xinfa Group Co. Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Huge Potential as Biomaterial in Medical Industry
Aluminum Oxide Industry Segmentation
Aluminum oxide is an amphoteric oxide of aluminum with the chemical formula Al2O3. The compound is commonly used in the production of industrial ceramics and aluminum smelting. The market is segmented by form type, application, and geography. By form type: nanoparticles, powder, pellets, tablets, and sputtering targets. By application, the market is segmented into aluminum smelting, abrasives, aluminum chemicals, engineered ceramics, and refractories. The report also covers the market size and forecasts for the aluminum oxide market in 15 countries across major regions. The market sizing and forecasts for each segment have been done based on volume (kilotons).
| Structural Form Type | |
| Nanoparticles | |
| Powder | |
| Pellets | |
| Tablets | |
| Sputtering Targets |
| Application | |
| Aluminum Smelting | |
| Abrasive | |
| Aluminum Chemicals | |
| Engineered Ceramics | |
| Refractories |
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Aluminum Oxide Market Research FAQs
What is the current Aluminum Oxide Market size?
The Aluminum Oxide Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Aluminum Oxide Market?
Aluminum Corporation of China Limited (CHALCO), Xinfa Group Co. Ltd, Alcoa Corporation, China Hongqiao Group Limited and Sasol are the major companies operating in the Aluminum Oxide Market.
Which is the fastest growing region in Aluminum Oxide Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aluminum Oxide Market?
In 2024, the Asia-Pacific accounts for the largest market share in Aluminum Oxide Market.
What years does this Aluminum Oxide Market cover?
The report covers the Aluminum Oxide Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aluminum Oxide Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aluminum Oxide Industry Report
Statistics for the 2024 Aluminum Oxide market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Aluminum Oxide analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
