Activated Alumina Market is estimated to be US$ 262.61 billion by 2030 with a CAGR of 6.10% during the forecast period
Activated Alumina has capacity to be utilized as an adsorbent, which drives the target market. Activated alumina is used in the oil and gas sector to remove water from natural gas streams. Natural gas is widely regarded as the most rapidly expanding source of domestic energy generation. The development of new refinery projects is expected to be the primary driver of segment growth. The oil and gas production of China National Offshore Oil Corporation (CNOOC) is predicted to increase by more than 6% per year between 2022 and 2024, playing a crucial role in China's energy supply security. The cumulative output of more than 1 billion cubic metres has demonstrated the capability and dependability of China's self-built systems for deep-sea gas and oil reserve discovery, exploitation, production, and operation.
To meet the rising demand for oil and gas, the Indian government has implemented a number of initiatives. It has permitted 100 percent Foreign Direct Investment (FDI) in numerous sectors, including natural gas, petroleum products, According to the International Energy Agency (IEA), natural gas consumption in India is predicted to increase by 25 billion cubic metres (bcm), with an average annual growth rate of 9% during the projection period.
Region Analysis:
Asia-Pacific activated alumina market is dominated and is predicted to grow at the fastest CAGR during the forecast period. China is the world's largest consumer of activated alumina, with significant expansion. Because of numerous government initiatives for water treatment, India and other Southeast Asian countries are driving up demand even more.
North America held a sizable market share in 2020, owing to high demand for drinking water and an increase in environmental concerns in the region. Furthermore, due to an increase in demand for alumina in the food and beverage industry, Europe is predicted to rise at a significant rate throughout the projection period.
Key Highlights:
- The Saudi government signed a memorandum of understanding with the Indian government in 2019 to establish a refinery in India.
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Key Market Insights from the report:
Global Activated Alumina Market accounted for US$ 145.87 million in 2020 and is estimated to be US$ 262.61 million by 2030 and is anticipated to register a CAGR of 6.10%. The Global Activated Alumina Market report segments the market on the basis of end-user, application and region.
- Based on End-User, Global Activated Alumina Market is segmented into Oil & Gas, Water Treatment, Plastics and Healthcare.
- Based on Application, Global Activated Alumina Market is segmented into Catalyst, Desiccant, Fluoride Adsorbent and Bio Ceramics.
- By Region, the Global Activated Alumina Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Activated Alumina Market:
The key players operating in the Global Activated Alumina Market includes BASF SE (Germany), Sumitomo Chemical Co., Ltd. (Japan), Honeywell International, Inc. (U.S.), J.M. Huber Corporation (U.S.), Porocel Corporation (U.S.), AGC Chemicals Pvt. Ltd. (India), Axens SA (France), Dynamic Adsorbents, Inc. (U.S.), Sorbead India (India), and Camfil Group (Sweden). The competition is primarily driven by the application scope and use of activated alumina in a different type of products.
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