In terms of revenue, the Global Activated Alumina Market is expected to reach 2.05 USD Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 7.80% from 2022 to 2028.
Increasing fuel demand from major end-use sectors will augment the oil & gas production and supply in the coming decade is driving the market. Activated alumina possesses the ability to absorb liquids and gases without altering their form. It is used for gas mixture purification by the optional adsorption of molecules. It is also used as a desiccant for water adsorption. Moreover, it is used in the form of catalyst for the Claus process, primarily for the natural gas desulfurization application.
- The beads sub-segment from the form segment is anticipated to dominate for the Activated Alumina Market. This segment is attributed owing to the high demand for water treatment plants thus helping the market to flourish in coming years.
- The application segment is accounted for the largest market share in 2021. The water segment is considered to be the fastest-growing owing need for water purification in major cities.
- Asia Pacific is the largest regional segment. This surge is attributed to the rising demand for activated alumina in developing economies such as China and India.
Some of key players in Activated Alumina Market include, Sumitomo Chemical Co.; BASF SE; Porocel Industries LLC; Honeywell International Inc.; and Dynamic Adsorbents Inc..
The global COVID-19 pandemic has disrupted the workflow in the industrial processing sector. The virus has forced a number of manufacturing and chemical processing companies to shut down and various sub-segments of the manufacturing sector to slow down thus creating an impact on the revenue cycles.
The level of heavy metals in drinking water is getting very high in both villages and cities owing to the activities such as mining and industrial waste disposal. Therefore, it becoming important physicochemical needed to be a factor, which needed be considered when assessing water quality for both human, animal and plant consumption according to this will enhance the condition of wellbeing animal and human, hence government bodies are taking initiatives and offering subsidies for treating such areas. This has led to an interest in the contract labor companies to take initiatives and offer jobs, thus helping the market to flourish during the forecast period.
Asia Pacific is expected to dominate the Global Activated Alumina Market in 2021 and is likely to continue the same trend during the forecast period. An increase in government initiatives and support in the activated alumina industry is likely to generate demand in this region for this market to flourish in near future. An increase in R&D for developing new projects in the water treatment sector in countries such as China & India is further adding spotlight. Significant improvements in the manufacturing and processing infrastructure, especially in the developing economies, are providing a thrust to the Activated Alumina Market growth.