Why is Production of Alumina High in Asia-Pacific?

The global alumina market is projected to attain a value of $54,907.3 million by 2024, from $61,093.4 million in 2018, progressing at a 2.2% CAGR during the forecast period (2019–2024), according to a report by P&S Intelligence. The key factor leading to the growth of the market are the rising need for high-specialty alumina in refractories and innovation aimed at enhancing substrates employed in end-use industries. On the basis of type, the market is categorized into fused, metallurgical, reactive, calcined, tabular, and others.


Out of these, the metallurgical category held the major share of the market in the past because of the high-volume production of aluminum. The global production of aluminum increased to 60.1 million tonnes in 2017 from 52.2 million tonnes in 2013. The demand for metallurgical-grade alumina is majorly rising from the Asia-Pacific (APAC) region, thereby driving the growth of the region. The fused category is expected to witness the highest growth during the forecast period, due to its applications in abrasives for metal polishing.


Request to get the sample pages of the market analysis at: https://www.psmarketresearch.com/market-analysis/alumina-market/report-sample



Geographically, the APAC region held the largest share of the alumina market in the past, accounting for 85,000 kilotons in 2018. The high alumina manufacturing capacity of India, China, and Indonesia is the major driving factor of the regional market. These three countries accounted for more than 58.0% share of the global alumina production in 2017, according to the data released by the British Geological Survey in its publication, World Mineral Production 2013–2017.


The expansion of the construction industry is a major factor leading to the growth of the alumina market. Macroeconomic growth in countries in APAC and Eastern Europe and rapid industrialization are the major factors leading to the growth of the construction sector. In addition to this, the requirement for high-quality products, including glass, specialty steel, and cement is on a rise. Countries including China, the U.S., India, the U.K., and Russia are predicted to create high volume demand for steel. This is predicted to drive the alumina industry.


Hence, the growing construction industry and increasing production of alumina in APAC are driving the expansion of the market.

What are Key Factors Boosting Global Demand for Alumina?

The rapid industrialization and increasing construction activities in the Eastern European and Asia-Pacific (APAC) countries are some of the major factors fueling the demand for alumina across the world. The swift economic growth of these countries is primarily responsible for the sharp surge in construction activities and infrastructural development projects. Moreover, the growth of the construction industry has boosted the demand for various high-quality products such as cement, glass, and specialty steel, which has, in turn, created a huge requirement of alumina in the country. This is because of the extensive usage of this material in steel manufacturing processes.


The European Union (EU) and the U.S. have recently enacted legislations for boosting the domestic production of LCDs (liquid crystal displays) to cater to the rising demand for locally manufactured flexible, high-precision, and larger-panel LCD TVs. This is another factor driving the sales of alumina around the world. Apart from this, alumina is also being increasingly required in the production of stationary energy storage devices like lithium-ion batteries and gas turbines and as a base material in the packaging, consumer durables, automotive, and electrical and electronics industries.

Get a sample copy of this report:
https://www.psmarketresearch.com/market-analysis/alumina-market/report-sample

Due to the aforementioned factors and the declining prices of alumina, the value of the global alumina market is predicted to decrease from $61,093.4 million to $54,907.3 million from 2018 to 2024. However, the market will exhibit rapid volumetric advancement in the future years, progressing at a CAGR of 3.0% from 2019 to 2024. The most commonly used types of alumina are reactive, fused, calcined, metallurgical, and tabular. Amongst these, the usage of the metallurgical alumina was observed to be the highest in the last few years.



Geographically, the alumina market registered the highest growth in the Asia-Pacific (APAC) region during the last several years and this trend will continue in the upcoming years as well, as per the predictions of the market research company, P&S Intelligence. This is attributed to the surging alumina manufacturing capacities of India, Indonesia, and China. According to the data published in the British Geological Survey’s World Mineral Production 2013–2017, the production of alumina in these countries accounted for more than 58.0% of the total alumina produced in the world in 2017.