Aluminum Oxide Market Is Expected to Rise at a Remarkable CAGR by 2024

Aluminum oxide (Al2O3), more commonly known as alumina, is extensive used in a variety of industrial manufacturing applications and various engineering processes. When occurring as crystalline form, aluminum oxide most closely resembles properties of natural corundum, with the characteristic property of remarkable hardness. Being extremely hard, aluminum find wide applications as abrasive materials and its marked resistance to any acid or base at high temperature makes it suitable for manufacturing refractories.

Driven by large number of emerging applications of aluminum oxide in the ceramic and electronics industry, the market is evolving. Its high thermal conductivity and ductility makes it popular to be used for instrumentation of thermal test machines. The market is also witnessing emerging wide demand in pharmaceutical industry and in medical transplants due to excellent biomaterial property.

Common available forms of aluminum oxide are powder, pellets, tablets, sputtering targets, and nanoparticles; of these, nanoparticles have gained wide adoption compared to bulk materials. This is attributed to its enhanced properties such as high electrical conductivity, ductility, and hardness of its alloys. Other popular applications in the medical sector include in making dental cements and in hemodialysis.

Global Aluminum Oxide Market: Trends and Opportunities

The global aluminum oxide market is primarily driven by myriad applications in various industries such as ceramic, pharmaceutical, medical, and electronics. Owing to its unique physical and chemical properties, the aluminum oxide is witnessing extensive demand in a number of industrial manufacturing applications, thereby boosting the market. The spiraling demand for aluminum oxide in the ceramic industry as porous ceramics materials to enhance their thermal conductivity is expected to catalyze the market in the coming years. The emerging demand for aluminum oxide in the medical industry as transplants is projected to fuel the market throughout the forecast period. The marked biomaterial acceptance of aluminum oxide has propelled its demand for implants in various surgeries.

A large number of applications of aluminum oxide as nanomaterials is expected to significantly accentuate the market in the forthcoming years. However, marked health concerns arising due to its exposure is a key factor likely to impede the market to an extent. Although aluminum oxide does not have carcinogenic effect, short-term exposure is known to cause respiratory tract infection and inflammation of eyes, while long-term exposure may affect our central nervous system. Nevertheless, constant improvements are being made to explore promising applications in the medical and biotechnology industries as implantable biomaterials. This is anticipated to open up exciting growth prospects for market players in major regions. In addition, advancement in manufacturing technology has led to newer applications in the ceramic industry, opening up lucrative growth avenues through the forecast period.

Global Aluminum Oxide Market: Regional Outlook

Geographically, North America and Asia Pacific are prominent markets for aluminum oxide. A large number of current and emerging applications of aluminum oxide in the pharmaceutical and medical industries is fuelling the Asia Pacific market. A major chunk of the consumption of aluminum oxide materials comes from countries such as India and China. The substantial growth of the North America market, on the other hand, is attributed to a wide range of applications in the ceramic industry.