by The global High Alumina Aggregate Market is estimated to be valued at US$ 439.88 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
High alumina aggregate products are extensively used in construction applications, where high temperature and corrosion resistance is critical. It is made up of alumina content ranging from 70-95%, making them highly resistant to chemicals and heat. Being non-magnetic in nature, high alumina aggregate is suitable for use in industries like iron & steel, non-ferrous metals, cement, and petrochemicals. It offers enhanced refractoriness, thermal shock resistance, abrasion resistance and low thermal conductivity, thus improving performance and extending equipment life. The aggregate is available in various forms like lump, crushed and ground. It provides cost-effective solutions for kiln furniture, casting ramming mixes, and used as a substitute for fireclay or magnesite carbon bricks.
Market key trends:
Growing construction activities across the globe are majorly driving the demand for high alumina aggregate. It is widely utilized in basic oxygen furnaces, reheat furnaces and ladles in steel production. Further, expansion of petrochemical and oil & gas industry, which demands advanced equipment resistant to high temperatures and corrosive environments. The aggregate plays a vital role in insulated firebricks, panels and mortar for kilns, electric arc furnaces and heat treatment furnaces. Rising use of clean energy technologies like solar cells manufacturing also supports growth of the market. Industry players are increasingly focused on producing superior quality aggregates with minimum impurities for critical applications in refractory insulating materials.
Porter’s Analysis
Threat of new entrants: The high capital requirements and established presence of major players make it difficult for new players to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes.
Bargaining power of suppliers: Few manufacturers control the supply of raw materials, giving them significant influence over prices.
Threat of new substitutes: Substitutes like calcium aluminate cements provide competition.
Competitive rivalry: Intense competition exists among existing players.
Key Takeaways
The Global High Alumina Aggregate Market Size is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing demand from end-use industries such as construction and steel production. The market size for 2023 is estimated to be US$ 439.88 Mn.
Regional analysis: Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. Increasing construction and infrastructure development activities in China and India are driving the demand.
Key players operating in the High Alumina Aggregate market are Zhengzhou Rongsheng Refractory CO, LTD, Shanxi Guofeng Ruineng Refractory Co., Ltd., Orient Abrasives Ltd., Henan Lite Refractory Material Co. Ltd., Almatis, Kerneos, Cimsa, Calceum, Fengrun Metallurgy Material, RWC, and Caltra Nederland. Key players are focusing on expanding their production capacities and geographical footprint to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
