Global Alumina Market Size By Product, Application, Geographic Scope And Forecast 2021 – 2027

The alumina market is expected to showcase robust growth by 2027 primarily due to prevalent product consumption across varied industry verticals. Additionally, rising usage in refractory products on account of alumina's high melting point is likely to propel market growth through the forecast period.

Alumina, also known as aluminum oxide, is a white or almost colorless crystalline substance used as a starting material for aluminum smelting. It also acts as an active agent in chemical processing and as a raw material for a wide array of advanced ceramic products. It is synthesized from bauxite, which is a naturally occurring ore that contains variable amounts of hydrous aluminum oxides.

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Notably, the COVID-19 outbreak disrupted the global supply chain, causing a spike in the prices of raw materials and subsequently, creating problems for alumina manufacturers. However, with successful worldwide vaccination drives, the industry is progressively regaining its pre-COVID momentum.

Moreover, the pandemic also outlined the severity of the climate crisis, forcing companies to rethink operations in order to reduce their carbon footprint. As a result, manufacturers in the alumina sector have been adopting methods to improve their operational efficiency in keeping with their decarbonization targets, which has been favorable for industry expansion in recent years.

For extensive analysis, the alumina market has been bifurcated in terms of grade, application, and region. Based on grade, the market has further been divided into chemical and smelter. The smelter grade segment is projected to gain over 90% volume share in the market by the end of the review period.

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The aluminum trihydrate smelter grade segment is anticipated to progress at a CAGR of more than 5.8% through the study timeline to reach a sizable valuation by 2027. Superior flame retardant and smoke suppressant capacities of aluminum trihydrate are likely to fuel segmental development in the upcoming years.

With respect to application, the alumina market has been categorized into aluminum production and non-aluminum production (ceramics, abrasives, filtration, refractories, and others). Under non-aluminum production, the filtration application segment is projected to expand at approximately 6.0% CAGR over the analysis period.

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