Alumina Trihydrate Market

Albemarle Corporation (US) and Huber Engineered Materials (US) arte the Key Players in the Alumina Trihydrate Market

The alumina trihydrate market is estimated to be USD 1.51 Billion in 2018 and is projected to reach USD 1.99 Billion by 2023, at a CAGR of 5.7% from 2018 to 2023. The rising demand for alumina trihydrate from the plastics industry, increasing fire safety across the globe, and the surge in demand for extender and fillers in cast polymers are expected to drive the alumina trihydrate market.

Albemarle Corporation (US), Nabaltec AG (Germany), Huber Engineered Materials (US), and LKAB Mineral AB (Sweden) are the key players in the alumina trihydrate market. These companies are focused on investing in plant capacity expansions and acquisitions. They are expanding their product portfolios and compete with other key market players.

Albemarle Corporation (US) focuses on launching innovative products in the market with improved services. It invests intensively in R&D activities to maintain an edge over its competitors. For example, in 2016, Albemarle Corporation (US) carried out divestitures of its flame retardants, specialty chemicals, fine chemistry, and metal sulfides product lines as part of its business strategy. The company aims at minimizing the waste and use of raw materials and energy, thereby resulting in less use of toxic reagents. It is focusing on the green revolution. In this regard, it introduced two new products, namely GreenCrest and GreenArmor in 2016.

(HEM) Huber Engineered Materials (US) is one of the leading companies in the alumina trihydrate market. The company focuses on maintaining a strong customer relationship. It continuously carries out technological advancements in its customer services. The company is focused on expanding its product portfolio in the flame retardants segment and as such has been acquiring technologies and production facilities of other companies for the same. In this regard, HEM (US) acquired the Martinswerk business of Albemarle Corporation (US) in 2016 that included flame retardants and specialty chemicals business.

Related Reports:

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

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Report Code
BC 6213
RI Published ON
4/26/2018
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