According to Future Market Insights (FMI), the sales of aluminum oxide in Europe are projected to reach a valuation of US$ 2,686.1 million by 2023, with a forecasted compound annual growth rate (CAGR) of 5.2% between 2023 and 2033. The total market valuation for aluminum oxide in Europe is anticipated to reach approximately US$ 4,443.8 million by 2033. The significant surge in demand for aluminum oxide, particularly driven by the ceramic industry, plays a pivotal role in this growth. Ceramics find widespread applications across diverse sectors such as construction, electronics, automotive, and medical devices, contributing to the robust expansion of the aluminum oxide market in the region.
Aluminum oxide is a key component in the production of advanced or engineered ceramics. This includes alumina ceramics, zirconia ceramics, and silicon carbide ceramics.
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These products have superior properties such as high strength, hardness, and resistance to wear and corrosion. They find applications in critical sectors such as aerospace, defense, and biomedical.
Growing demand for high-performance ceramics from various industries will continue to boost Europe aluminum oxide sales through 2033.
The increasing adoption of advanced ceramics in high-tech applications such as semiconductors, LEDs, and electronic devices will elevate demand for aluminum oxide. Hence, the ceramics sector will continue to play a significant role in propelling demand for aluminum oxide across Europe.
Further, the growing usage of aluminum oxide in aluminum production will create opportunities for Europe-based aluminum oxide manufacturers.
Key Takeaways from Europe Aluminum Oxide Industry:
- Europe aluminum oxide market is set to cross a valuation of US$ 4,443.8 million by 2033.
- Sales of aluminum oxide across Europe will rise at around 2% CAGR over the forecast period.
- By application, aluminum production segment will hold a prominent share of Europe market by 2033.
- Based on end use, electronics segment will thrive at 2% CAGR between 2023 and 2033.
- Germany market is set to create an incremental $ opportunity of US$ 412.4 million through 2033.
- Demand for aluminum oxide in France will progress at 8% CAGR over the next ten years.
“Growing demand from the ceramics industry is creating significant opportunities for the Europe aluminum oxide market. With increasing demand for ceramics from various industries, aluminum oxide sales will rise at a steady pace across Europe. Manufacturers will find significant growth opportunity in tending to critical sectors like aerospace, defense, and biomedical.” – says an FMI analyst.
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Competitive Analysis:
BASF SE, Alcoa Corporation, Cabot Corporation, Norsk Hydroa, Evonik Industries AG, Merck KGaA, Sasol Ltd., J.M. Huber Corporation, Honeywell International Inc., W.R. Grace & Co., and others are the key manufacturers of aluminum oxide profiled in the full version of the report.
Key market participants are expanding their production capacities to meet end user demand across Europe. They are also focusing on strengthening their presence across various emerging markets.
For instance,
- In September 2020, BASF SE made an announcement, regarding the launch of their latest palladium alumina catalyst series in the market.
This new series of catalysts are supported by alumina and has been designed to offer improved activity and increased tolerance to toxins such as sulfur. This is achieved through the use of greater Pd dispersion in the catalysts, resulting in a higher level of efficiency.
- In February 2022, Norsk Hydro ASA signed an agreement with Agder Energi AS and Lyse Energi AS to build a hydrogen plant in Norway to produce low-carbon aluminum.
This agreement to build a hydrogen plant is a significant step forward in the company’s efforts to produce low-carbon aluminum. By using renewable energy sources to produce hydrogen, the company is demonstrating its commitment to sustainability and reducing its carbon footprint.
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Europe Aluminum Oxide Industry Segmentation
By Product Type:
- Nanoparticles
- Powder
- Pellets
- Tablets
- Sputtering Targets
By Application:
- Aluminum Production
- Non-Aluminum Production
- Abrasives
- Engineered Ceramics
- Corundum
- Others
By End Use:
- Medical
- Automotive
- Aerospace
- Metallurgy
- Electronics
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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