Global Alumina Market Size To Grow USD 46.53 Billion By 2030 | CAGR 5%

Global Alumina Market Size To Grow USD 46.53 Billion By 2030

According to a research report published by Spherical Insights & Consulting, the Global Alumina Market Size to grow from USD 30.00 billion in 2021 to USD 46.53 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5% during the forecast period. Over the projected period, the demand for alumina in the market will increase due to changing consumer preferences for lightweight materials and increased aluminium consumption for the building and automotive industries.

Browse key industry insights spread across 258  pages with 120 Market data tables and figures & charts from the report on the "Global Alumina Market Size, Share, and COVID-19 Impact Analysis By Product (Smelter, Chemical, Calcined, Tabular, Fused, Reactive and Aluminum Trihydrate) By Application (Aluminum Production, Non-Aluminum Production, Abrasives, Ceramics, Refractories, Filtration and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030."View a detailed Table of Content here–https://www.sphericalinsights.com/table-of-contents/alumina-market

The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.

The Smelter segment to account for the largest market size during the forecast period

Based on the product, the Alumina Market is categorized into Smelter, Chemical, Calcined, Tabular, Fused, Reactive and Aluminum Trihydrate. The Smelter segment to account for the largest market size during the forecast period. Throughout the forecast period, the Smelter segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because this is explained by the increasing demand for aluminium from end-use industries is to blame for this sector's expansion. Over the course of the research period, the emergence of the automobile sector in emerging nations will increase demand for high-quality aluminium for use in interior and exterior body panels, engine components, and other applications.

The Aluminum Production segment to hold a higher CAGR during the forecast period.

Based on the application, the Alumina Market is categorized into Aluminum Production, Non-Aluminum Production, Abrasives, Ceramics, Refractories, Filtration and Others. The Aluminum Production segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Aluminum Production segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because Due to the increasing applications in end-use industries, there is a steady demand for high-quality aluminium products from the Asia Pacific and North American areas. The car industry's increased use of aluminium parts for external and interior parts will increase the market share for alumina. 80% of the weight of modern commercial aircraft is made up of aluminium. Additionally, the infrastructure sector in emerging nations will grow quickly, which will increase demand for aluminium.

North America to hold a higher CAGR during the forecast period.

The Global Alumina Market has been segmented into five major regions:  North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. The demand for Alumina is being driven by the rising acceptance by the market. The market for Alumina was dominated by the Asia Pacific region Over the projection period, in recent years, nations including China, India, Japan, Malaysia, and South Korea have constantly promoted electric automobiles. Thanks to its supportive governmental policies and central planning, China produces more than half of the world's primary aluminium. Additionally, several nations are concentrating on the wastewater treatment sector to lessen water constraint, which boosts the overall income from the alumina market.

Major vendors in the Global Alumina Market include C Alcoa, Queensland Alumina Limited (QAL), Hindalco, Safo Luas (Alumar), Hydro, Porto Trombetas, Aluminum Corporation of China, BHP Billiton Group, Glencore International, CVG Bauxilum, National Aluminum Company, United Company RUSAL Alumina Limited, Sangaredi, Hariom Rocks, and Rio Tinto.

Key Target Audience

• Market Players
• Investors
• Applications
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Some of the Key Developments:

• In November 2020, The second production line of the Huasheng, China-based Aluminum Corporation of China Ltd.'s alumina refinery has begun operation. The firm will be able to produce more alumina thanks to the new manufacturing line, which will also help them gain more market share.

• In June 2020, For its refineries in the Western Australian bauxite mines of Pinjarra and Huntly, Alcoa of Australia announced expansion plans. This will aid the business in satisfying the rising customer demand for alumina in the Australian and Asia-Pacific regions.

Market Segment

This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Alumina Market based on the below-mentioned segments

Global Alumina Market, By Product

• Smelter
• Chemical
• Calcined
• Tabular
• Fused
• Reactive
• Aluminum Trihydrate

Global Alumina Market, By Application

• Aluminum Production
• Non-Aluminum Production
• Abrasives
• Ceramics
• Refractories
• Filtration
• Others

Global Alumina Market, Regional Analysis

North America

• US
• Canada
• Mexico

Europe

• Germany
• Uk
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific

South America

• Brazil
• Argentina
• Rest of South America

Middle East & Africa

• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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