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Growing demand or alumina from the metallurgical industry is one of the significant factors influencing the market growth.
NEW YORK CITY, NEW YORK, UNITED STATES, November 29, 2022 /EINPresswire.com/ — The global alumina market is expected to reach USD 74.13 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the growing applications of alumina among end-use applications.
Alumina finds extensive application in the production of metal aluminum, which finds application in a huge variety of commercial sectors. It is commonly used in both cast forms and wrought. The lightweight of aluminum makes it a suitable choice for use in the automotive and aerospace industry. It is also resistant to corrosion, which leads to its use in food and chemical handling and architectural purposes. Aluminum is an excellent electrical conductor and thus is used frequently in electrical transmission lines.
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Major companies Alcoa Corporation, Rio Tinto PLC, Almatis BV, United Company RUSAL PLC, Hindalco Industries Ltd., Alumina LTd., CVG Bauxilum CA, Norsk Hydro ASA, National Alminium Company Ltd., and Aluminum Corporation of China Ltd.
Further key findings from the report suggest
By product type, metallurgical-grade alumina contributed to the larger market share in 2020. It is used in the production of aluminum metal, which finds widespread application in several industries, such as automotive, aerospace, and construction, among others.
By distribution channel, the online distribution channel is likely to grow at a faster growth rate of 1.9% in the forecast period.
By application, ceramics held a substantial market share in 2020 and is projected to grow at a rate of 1.5% in the period 2019-2028. Ceramics made from alumina are utilized in resistor cores in the electronics industry, heavy-duty forming tools, tiles for wear protection, seal and regulator discs for water taps, and thread guides in textile engineering, among others.
The market in the Asia Pacific region dominated the market in 2020 and is expected to grow at a rate of 3.0% in the forecast period. The market dominance of the APAC region is owing to the growth of the end-user industries, as well as the presence of leading market players.
To know more about the report@ https://www.reportsanddata.com/report-detail/alumina-market
Segments covered in the report:
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Distribution Channel Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
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Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Key Attentions of Alumina Market Report:
The report offers a complete and broad perspective on the global Alumina Market.
The market statistics depicted in the various Alumina Market segments give a complete picture of the industry.
The market growth drivers and challenges affecting the development of the Alumina Market are analyzed in detail.
The report will aid in the analysis of key competitive market scenarios and Alumina Market dynamics.
Major players, Alumina Market key companies, investment feasibility, and study of new market entrants are offered.
The scope of development of the Alumina Market in each market segment is covered in this report.
The macro and microeconomic factors that influence the Alumina Market progress are detailed in this report.
The upstream and downstream components of the Alumina Market and a complete value chain are explained.
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