PUNE, India, April 26, 2018 /PRNewswire/ --
The report "Alumina Trihydrate Market by Application (Flame Retardant, Filler, Antacid), End-Use Industry (Plastics, Building & Construction, Paints & Coatings, Pharmaceuticals, Glass, Rubber), and Region (APAC, North America, Europe, MEA) - Global Forecast to 2023", published by MarketsandMarkets™, the global alumina trihydrate (ATH) market is projected to grow from USD 1.51 Billion in 2018 to USD 1.99 Billion by 2023, at a CAGR of 5.7% from 2018 to 2023.
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The growth of the Alumina Trihydrate Market is driven by the rising demand for alumina trihydrate as a flame retardant or filler from the plastics, building & construction, and other end-use industries and increasing regulations related to fire safety.
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The flame retardant application segment is estimated to account for the largest share of the Alumina Trihydrate Market in 2018.
Based on application, the flame retardant segment is estimated to account for the largest share of the Alumina Trihydrate Market in 2018. The growth of this segment can be attributed to the increasing regulations of flame retardant across the world in plastics, building & construction, and other industries.
The plastics segment is estimated to be the fastest-growing end-use industry segment of the Alumina Trihydrate Market during the forecast period.
Based on end-use industry, the plastics segment is expected to grow at the highest rate due to the growing demand from emerging economies of the Asia Pacific and Europe. Alumina trihydrate is very effective in flame retardant and filler applications. Alumina trihydrate is used in thermosets and plastics applications.
Asia Pacific is expected to lead the Alumina Trihydrate Market during the forecast period.
China is the largest market for alumina trihydrate in the Asia Pacific region, in 2018. The growth of the plastics and building & construction industries is expected to be the key growth factor for the Alumina Trihydrate Market in the Asia Pacific region. The growing consumption of flame retardant in China is also leading to the growth of the Alumina Trihydrate Market in the country. The increased demand for cost-effective flame retardant and filler is another factor fueling the consumption of alumina trihydrate in China. China is the largest consumer of alumina trihydrate in the Asia Pacific region.
Key players in the Alumina Trihydrate Market include Albemarle Corporation (US), Nabaltec AG (Germany), Huber Engineered Materials (US), and LKAB Minerals AB (Sweden), among others.
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