Emerging Economies to Drive Global Activated Alumina Market
The global activated alumina market was estimated at 95.3 kilotons in 2015.
According to a recent report from Technavio, the global activated alumina market was estimated at 95.3 kilotons in 2015. It is expected to reach 138.8 kilotons by 2020, growing at a compound annual growth rate (CAGR) of close to 8%. The oil and gas segment dominated the global activated alumina market in 2015 with a share of over 59%.
The market is highly competitive because of the decline in demand from developed countries in Europe and an increase in demand from emerging economies in Asia-Pacific. The global supply of activated alumina to the key end-user segments (oil and gas, petrochemicals, and refractories) is dominated by six to eight major players. The other user segments (construction and other miscellaneous segments) are catered to by smaller manufacturers. The increase in the application areas for activated alumina from emerging economies has encouraged vendors to expand their market presence in Asia-Pacific through mergers and acquisitions.
“Many key European manufacturers have established their production units in Asia-Pacific to address the growing demand in the Middle East and Africa, taking advantage of the easy and economical logistics, as well as cheap labor and raw material in countries like India, China, and Sri Lanka,” said Ajay Adhikari, lead analyst.
For more information, visit www.technavio.com.