Automotive and Medical Segments Highlighted as Key Opportunities for Alumina through 2022
The Asia-Pacific region led the alumina market in 2017 with a market share of nearly 72%.
The global aluminum oxide (alumina) market is expected to post a CAGR of nearly 5% from 2018-2022, according to a recent market research report by Technavio. A key factor driving the growth of the market is rapid development in the automotive industry, where alumina is used to manufacture several ceramic parts in vehicles (e.g., valve plates, oxygen sensors, electronic displays, fiberglass, spark plugs, and heat sinks). In electric vehicles, alumina is used as separators in battery units. It is also used as a polishing material for aluminum rims, paint plastics, and brake rims.
The report also highlights increasing applications in the medical sector as one of the key emerging trends in the global alumina market. For example, alumina is finding increased application in bone and joint replacements due to its superior mechanical properties and high resistance to wear and tear. Medical-grade alumina is also extensively used in dental roots. For ceramic bearings used in medical applications such as artificial hearts, alumina acts as a key strengthening agent.
The metallurgical segment held the largest market share in 2017 (compared to non-metallurgical), accounting for nearly 61% of the market. The Asia-Pacific region led the market in 2017 with a market share of nearly 72%.
Additional details are available at www.technavio.com.