Global Boehmite Market Size to Reach USD 926.1 Million in 2032 |Emergen Research

Rising demand for flame retardants is a major factor driving the Boehmite Market revenue growth

Vancouver, Oct. 18, 2023 (GLOBE NEWSWIRE) — The global boehmite market size was USD 246.5 Million in 2022 and is expected to register a revenue CAGR of 14.2% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for flame retardants is a major factor driving market revenue growth.

The importance of effective flame-retardant materials has skyrocketed in recent years as industries increasingly focus on fire safety and compliance with stringent regulations. In 2021, the global market of flame retardants reached approximately USD 8.2 billion. The market size is expected to expand by USD 13.6 billion worldwide in 2030. Boehmite has become a crucial ingredient in flame-retardant formulations owing to its outstanding fire-resistant properties. Its high thermal stability and ability to suppress combustion make it an essential component in a wide range of applications, from construction materials to electronics to textiles. Rising demand for flame retardants, combined with Boehmite’s vital role in improving fire safety, has resulted in increase in revenue growth of the market. Manufacturers are therefore experiencing heightened interest in boehmite as a critical element in their development of safer, more fire-resistant products.

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In addition, rising demand of the electronics industry is driving revenue growth of the boehmite market. With technological advancements continually pushing boundaries, electronic devices are becoming increasingly sophisticated, compact, and powerful. Boehmite is renowned for its exceptional electrical insulation properties and has found a pivotal role in this landscape. It serves as a crucial component in insulating materials and substrates for semiconductors, ensuring efficient functioning and longevity of electronic components. The demand for high-quality components such as boehmite is growing along with rising demand for cutting-edge devices and electronics. Rising demand from the electronics sector is expected to drive revenue growth of the boehmite market.

However, volatile cost of raw materials presents a significant impediment to revenue growth of boehmite market. Fluctuations in the prices of essential inputs needed to produce boehmite, such as aluminum and various chemicals, introduce uncertainty and challenges for manufacturers. Sudden spikes in raw material costs can lead to increased production expenses. Moreover, such unpredictability in costs can disrupt supply chains, affect the overall competitiveness of boehmite in comparison to alternative materials, and restrain revenue growth of the market.

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Scope of Research

Major Companies and Competitive Landscape

The global boehmite market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Boehmites. Some of the major companies included in the global boehmite market report are:

• Sasol Limited 
• Nabaltec AG
• TAIMEI Chemicals Co. Ltd.
• Dequachim
• Osang Group
• TOR Minerals
• Tianjin BoYuan New Materials Co., Ltd.
• KC Corporation
• Pacific Industrial Development Corporation (PIDC)
• SILKEM, d.o.o.

Strategic Development

• 06 July 2021, Pacific Industrial Development Corporation (PIDC), a global specialist in chemical manufacturing, has announced the expansion of its operations in Ann Arbor. This involves the acquisition of two new buildings. PIDC has recently completed the enhancement of its main office, which is situated adjacent to its current headquarters. Furthermore, PIDC has initiated the refurbishment of a research center and pilot facility in Ann Arbor. This structure will afford PIDC an additional 50,000 square feet of space for research, laboratories, and storage. This expansion will bolster the company’s production capabilities in both Ann Arbor and Spartanburg, S.C., contributing to the growth of its manufacturing presence in the United States.
• 02 October 2020, LyondellBasell and Sasol have officially agreed to establish a 50/50 joint venture. In this partnership, LyondellBasell will purchase a 50% stake in Sasol’s ethane cracker, which has a capacity of 1.5 million metric tons, along with its low and linear-low-density polyethylene plants of 0.9 million metric tons, as well as the associated infrastructure. This acquisition comes at a total cost of USD 2 billion. The agreement also outlines standard provisions for both parties regarding the potential future sale of their ownership stakes. The joint venture will be operated under the name Louisiana Integrated PolyEthylene JV LLC.

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Some Key Highlights from the Report

• The D50>30um segment is expected to register a steady revenue growth rate over the forecast period. The D50 >30um boehmite segment is experiencing a rise in demand primarily due to its versatility and suitability for a wide range of applications. This grade of boehmite, characterized by its particle size distribution with a median diameter greater than 30 micrometers, offers distinct advantages in various industries. Its larger particle size makes it an ideal choice for applications that require enhanced rheological properties, such as in the formulation of coatings, adhesives, and paints.
• The paints and coatings segment is expected to account for a significantly large revenue share over the forecast period due to the growing adoption of boehmite in this segment owing to its exceptional properties that enhance the performance and longevity of these products. Boehmite serves as a crucial component in formulating high-quality coatings. Its fine particle size and uniform distribution contribute to improved rheological properties, ensuring smooth application and even coverage. In addition, boehmite acts as a reinforcing agent, enhancing the coating’s mechanical strength, durability, and resistance to abrasion. Its high surface area allows for efficient pigment dispersion, resulting in vibrant and long-lasting color finishes.
• The market in North America accounted for largest revenue share in the global boehmite market in 2022 due to the rising demand for aluminum and its derivatives in countries within the region, particularly in the United States and Canada. The Aluminum Association’s initial projections revealed a substantial 4.8% year-on-year rise in demand for the aluminum sector in North America (encompassing the U.S. and Canada) in 2022. The collective demand for aluminum in North America, which encompasses shipments from domestic manufacturers as well as imports, reached an estimated 27.5 billion pounds in 2022, marking a notable 4.8% increase compared to 2021 figures.

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Emergen Research has segmented the global boehmite market on the basis of type, purity, application, and region:

• Type Outlook (Revenue, USD Million; 2019-2032)

• • 0< D50< 5um
  • 5um< D50< 15um
  • 15um< D50< 30um
  • D50 >30um

• Purity Outlook (Revenue, USD Million; 2019-2032)

• • High Purity Boehmite (Above 99%)
  • Below 99% Purity Boehmite

• Application Outlook (Revenue, USD Million; 2019-2032)

• • Li-Ion Batteries
  • Flame Retardants
  • Electronic Ceramics
  • Paints & Coatings
  • Plastics
  • Others

• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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