Activated Alumina Spheres Market Forecast 2023 - 2030

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.

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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.

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.