Albany, New York, November 22, 2016: The growth of the global activated alumina market is dependent on the growth of the wastewater treatment market, says a new report that is now available on Market Research Reports Search Engine (MRRSE). According to the report, the global activated alumina market is expected to rise from US$770.6 mn in 2015 to US$1,108.9 mn by 2024, expanding at a 4.2% CAGR between 2016 and 2024. The key factor driving the market is the increasing demand for an effective treatment method and solution for wastewater.
The report is titled, ‘Activated Alumina Market (End users – Reaction Catalyst, Oil & Gas, Water Treatment, Biomaterial) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,’ and has been published by Transparency Market Research (TMR). The Claus process makes use of activated alumina, which will also help drive the market through 2024. Players in the market are striving to achieve product diversification, which will ensure a healthy growth of the market.
According to market experts, new entrants will benefit from collaborating and partnering with manufacturers of raw materials whereas existing players can benefit from focusing on integrated operation so as to strengthen their position in the global activated alumina market. The market is expected to face challenges owing to the substitution of activated alumina by silica gel, zeolite, and activated carbon. The high regeneration cost in end-use segments will also hamper the market in the coming years. However, exploration of new end users can will ensure new growth opportunities in the market.
The global activated alumina market is segmented on the basis of end use into reaction catalyst, water treatment, biomaterial, and oil and gas. The oil and gas segment is further categorized into liquid dehydration and gas dehydration. Of these, the oil and gas segment led in 2015, accounting for 30% of the market. The water treatment segment is anticipated to expand at a healthy CAGR of 4.8% from 2016 to 2024. On the basis of geography, the market is expected to be led by Asia Pacific throughout the forecast period. The Asia Pacific segment also led in 2015, accounting for 33% of the market. The region is expected to lead by volume as well as by revenue, states the report.
The report profiles key players in the global activated alumina market such as Sumitomo Chemicals, Albemarle Corporation, Honeywell Industries Inc., Axens, Porocel, and BASF SE. These six companies are the top players in the market and collectively accounted for 35% of the market in 2015. The market is fragmented and thus, many other companies are a part of the activated alumina market. While some players are focusing on product development and product innovation, others are concentrating on expanding their market shares by exploring new regions and gaining a stronger foothold in the global market. Players are also striving to increase their sales force and trying to achieve reasonable pricing for their products so as to withstand the pressure by the increasingly competitive market.
Browse Full Global Activated Alumina Market Report with TOC http://www.mrrse.com/activated-alumina-market
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