According to the research report titled ‘Alumina Market Size, Share and Industry Analysis Report by Grade (Chemical [Calcined (Ordinary Soda, Medium Soda, Low Soda), Tabular, Fused, Reactive, Aluminum Trihydrate], Smelter) and Application (Aluminum Production, Non-Aluminum Production [Abrasives, Ceramics, Refractories, Filtration, Others], Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 – 2027’, available with MarketStudyReport, global alumina market share is touted to surge at a substantial CAGR over the forecast period 2021-2027.
 

Increasing product consumption across various verticals, and rising use of alumina in refractory products due to its high melting point are the primary factors bolstering global alumina market growth.
 

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For the unversed, alumina, or aluminum oxide, is a colorless, white crystalline substance that is used as a starting material for aluminum smelting. It also acts as a raw material for several advanced ceramic products, and as an active agent in chemical processing. The material is synthesized from bauxite, which is an ore that contains hydrous aluminum oxides.
 

Speaking of the impact of the COVID-19 pandemic, disrupted global supply chains had caused a sharp rise in the prices of raw materials, creating several problems for alumina manufacturers. However, with successful rollout of vaccination drives, the vertical is on track to regain its pre-COVID momentum.
 

Additionally, the pandemic highlighted the critical effects of climate change and forced companies to restructure their operations to reduce carbon footprint. As a result, alumina manufacturers have been adopting new methods to boost operational efficiency to keep up with their decarbonization targets, which has been promoting industry expansion.
 

Based on grade type fragmentation of worldwide alumina industry, smelter grade segment is projected to accumulate 90% volume share in the market by the end of 2027. Considering application scope, the filtration sub segment of non-aluminum production segment is projected to grow at 6% CAGR over the estimated period.
 

From a regional frame of reference, Europe captured 12% of the overall industry share in 2020 and is calculated to register similar growth over 2021-2027. Meanwhile, Latin America market is predicted to record a CAGR of 4.7% during the analysis timeline, due to rising aluminum consumption in the construction and automotive sectors across the region.
 

Major players in global alumina market are Cabot Corp., Almatis B.V., Sasol Ltd., Worsley Alumina (South32 Ltd.), Vedanta Ltd., Nippon Light Metal Company Ltd., Alum S.A., NALCO India, Norsk Hydro ASA, RUSAL, Rio Tinto Group, China Hongqiao Group Co. Ltd., Xinfa Group Co. Ltd., Aluminum Corporation of China Ltd., and Alcoa Corp.