Activated Alumina Spheres Market Forecast 2023 - 2030

Report ID : CBI_1210 |  Category : Materials And Chemicals   | Published Date:     |  Format :   ms word  ms Excel  PDF

Segments Covered :
By Application Catalyst, Desiccant, Fluoride Adsorbent, Bio Ceramics, and Others
By End-use Industry Oil and Gas, Water Treatment, Chemical, Food & Beverage, and Others
By Region North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Snapshots :
Base Year: 2022
CAGR: 4.1%
Forecast Year: 2023 - 2030
Revenue 2022: $708.45 Mn
Revenue 2030: $975.38 Mn

Activated Alumina Spheres Market Forecast 2023 - 2030

Market Overview :

Consegic Business Intelligence analyzes that the activated alumina spheres market is growing with a healthy CAGR of 4.1% during the forecast period (2023-2030), and the market is projected to be valued at USD 975.38 Million by 2030 from USD 708.45 Million in 2022.

Market Definition :

The activated alumina spheres are composed of aluminum hydroxide. The activated alumina spheres product is manufactured after dehydroxylation of aluminum hydroxide by utilization of a process to make it a highly absorbent material. The prominent properties associated with activated alumina spheres include superior adsorption capacity, excellent crushing strength, low attrition loss, low bulk density, longer service life, and dust-free operation, among others. These properties of activated alumina spheres ensure selective adsorbent for the elimination of impurities such as arsenic and fluoride. As a result of the above-listed benefits, the activated alumina sphere is frequently utilized in a wide range of applications such as desiccant, catalyst, bio ceramics, fluoride adsorbent, and others.

Activated Alumina Spheres Market :

Activated Alumina Spheres Market

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Market Dynamics :

Activated Alumina Spheres Market Dynamics

Drivers :

  • The booming oil and gas industry is fostering market growth

    Activated alumina spheres are an ideal solution for the oil and gas industry to ensure efficient drying of air, gases, and liquids. The development of new oil & gas facilities, increasing production activities, and others are driving the oil & gas industry growth at the global level. For instance, according to the recent statistics published by the U.S. Energy Information Administration, in 2021, the annual production of crude oil at the global level was 95.69 million barrels per day, and in 2022, it was 99.85 million barrels per day. In 2022, the year-on-year growth of crude oil production at the global level was 4.34%. Hence, the booming oil & gas industry is boosting the demand for activated alumina spheres to ensure efficient oil purification. This prominent factor is boosting the market growth.

  • Advancement of water treatment applications are favoring the growth of the market

    Activated alumina spheres are employed in water treatment in industrial applications, municipal water treatment facilities, and in-home use to remove contaminants from water. The sewage treatment connection rate attached to wastewater treatment plants is rising at the global level. As a result, there is a higher adoption of water treatment plants with superior cleaning efficiency. For illustration, according to the Organisation for Economic Co-operation and Development (OECD), in 2020, the sewage treatment connection rate in Austria increased to 96.04% of the Austrian population. Therefore, the increasing sewage connection rate is accelerating the demand for water treatment plants. This is fostering the demand for activated alumina spheres to eliminate fluoride, which, in turn, is benefiting the market growth.

Restraint :

  • The availability of various substitute products for the activated alumina sphere is restraining the market growth

    The availability of substitute products associated with activated alumina spheres such as activated carbon, zeolite, activated charcoal, and others restraining the growth of the market. The above-mentioned substitutes pose various superior performance features as compared with the activated alumina sphere. For instance, adsorption capacity minimizes with increasing temperatures. However, zeolites maintain their superior efficiency for drying up to 100°C and the activated alumina sphere has excellent favorable adsorption characteristics below 50°C. Henceforth, the above-mentioned benefits associated with activated alumina spheres such as activated carbon, zeolite, activated charcoal, and others are restricting the adoption of activated alumina spheres. This, in turn, is posing a major roadblock to the growth of the market.

Opportunities :

  • The development of new food & beverage manufacturing facilities will proliferate the market growth

    Activated alumina spheres are deployed in food and beverage manufacturing facilities for ensuring higher standards of water purification standards. The increasing development of new food manufacturing facilities at the global level is attributed to factors such as increasing investments in new manufacturing plants, government subsidies, and others. For instance, in November 2022, Hershey, a United States-based manufacturer of snacks such as chocolates, cookies, cakes, and others announced the development of a new food manufacturing facility in Pennsylvania, U.S. The construction of the state-of-the-art food manufacturing facility will be completed by the end of 2024. As a result, the development of new food manufacturing facilities is projected to drive the demand for activated alumina sphere since it is utilized as an ingredient in food and beverage water treatment, this, in turn, will accelerate the market growth in the long run.

 

Activated Alumina Spheres Market Report Coverage :

Report Attributes Report Details
Study Timeline 2017-2030
Market Size in 2030 USD 975.38 Million
CAGR (2023-2030) 4.1%
By Application Catalyst, Desiccant, Fluoride Adsorbent, Bio Ceramics, and Others
By End-use Industry Oil and Gas, Water Treatment, Chemical, Food & Beverage, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Players ВАЅF ЅЕ, DYNAMIC ADSORBENTS, INC., Sorbead India, Huber Corporation, Sumitomo Chemical Co., Ltd., Axens, Patalia Chem Industries., ACURO ORGANICS LIMITED, AGC CHEMICALS PVT. LTD., and Nitrotech Engineers

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Market Segmentation :

By Application :

The application segment is categorized into catalyst, desiccant, fluoride adsorbent, bio ceramics, and others. In 2022, the catalyst segment accounted for the highest market share of 28.15% in the overall activated alumina spheres market and is projected to be the fastest-growing segment during the forecast period. The activated alumina sphere ensures efficient adsorption and a large surface area for activity in the reaction process. This makes the activated alumina sphere an ideal catalyst. Activated alumina sphere act as a buffer to manage liquid and gaseous levels to protect the natural composition of substances. The catalyst manufactured from an activated alumina sphere speeds up a chemical reaction, thereby making it an ideal choice for the chemical industry. For instance, according to the recent statistics published by the European Chemical Industry Council (CEFIC), in the year 2021, the European Union region was the second largest manufacturer of chemicals at the global level valued at EURO 4,026 billion. Also, the average growth product growth rate of chemicals in the European Union region was 0.4% between 2011-2021. Therefore, the booming chemicals industry is driving the demand for catalysts. This, in turn, is driving the demand for activated alumina spheres to ensure efficient synthesis of chemicals, which is boosting segment growth.

Global Activated Alumina Spheres Market, By Application, 2022

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By End-use Industry :

The end-use industry segment is categorized into oil and gas, water treatment, chemical, food & beverage, and others. In 2022, the oil and gas segment accounted for the highest market share in the activated alumina spheres market. The key technical properties associated with activated alumina spheres include excellent catalytic properties, high-temperature resistance, superior adsorbing features, and others. Thus, activated alumina sphere is widely used in gaseous and liquid desiccation in the oil & gas industry. For instance, according to the recent statistics published by the U.S. Energy Information Administration, in 2021, the annual production of crude oil in OPEC countries was 31.66 million barrels per day, and in 2022, it was 34.17 million barrels per day. In 2022, the year-on-year growth of crude oil production in OPEC countries was 7.91%. Thus, the increase in the production activities associated with crude oil in OPEC countries is favoring the demand growth for activated alumina sphere to ensure efficient conditioning of insulated oil, which, in turn, is benefiting the market growth.

However, the water treatment segment is expected to be the fastest-growing segment during the forecast period because of the development of new water treatment facilities, increasing research & development, and others.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

 
North America Activated Alumina Spheres Market, 2022 (USD Million)

Regional Growth Insights

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In 2022, North America accounted for the highest market share at 36.55% and was valued at USD 258.94 million and is expected to reach USD 358.45 million in 2030. In North America, the U.S. accounted for the highest market share of 65.30% during the base year of 2022. Advancements in the sectors such as food & beverage, oil & gas, and others are accelerating the growth of the market in the North American region. For instance, Pikka Oil Field is an onshore oil and gas project in Alaska, United States. The production activities associated with the Pikka Oil Field are projected to commence by the year 2026. In addition, in June 2021, the United States Department of Agriculture (USDA) announced an investment of USD 4 billion to strengthen food production, food system, enhanced processing of food, and others. The investments will aid the market growth of the United States food industry in the forecast years. Therefore, the advancement of the above industries is fostering market growth.

North America Activated Alumina Spheres Market, By Countries (2022)

Details Countries Growth Insights

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Activated Alumina Spheres Market Competitive Landscape:

The activated alumina spheres market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-

Recent Developments :

  • In November 2020, Evonik, a leading chemical manufacturer at the global level acquired Porocel Group for USD 210. Porocel Group is a leading manufacturer of activated alumina products. The prime aim of the acquisition was to increase the product offering in the global activated alumina sphere business.
 

Frequently Asked Question

What was the market size of the activated alumina spheres industry in 2022?+

In 2022, the market size of activated alumina spheres was USD 708.45 million.

What will be the potential market valuation for the activated alumina spheres industry by 2030?+

In 2030, the market size of activated alumina spheres will be expected to reach USD 975.38 million.

What are the key factors driving the growth of the activated alumina spheres market?+

The booming oil and gas industry is fostering the activated alumina sphere market growth at the global level.

What is the dominating segment in the activated alumina spheres market by application?+

In 2022, the catalyst segment accounted for the highest market share of 28.15% in the overall activated alumina spheres market.

Based on current market trends and future predictions, which geographical region is the dominating region in the activated alumina spheres market?+

North America accounted for the highest market share in the overall activated alumina spheres market.