The NAFTA Alumina Trihydrate Flame Retardant Market size is estimated to reach US$220 by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. The use of the Alumina Trihydrate Flame Retardant in the electrical & electronics industry has increased significantly. Aluminum Trihydrate is a white crystalline solid composed of three water molecules bound to each aluminum molecule. It is available in ground ATH and precipitated ATH forms. Alumina trihydrate flame retardant is used in a variety of electronics applications, including conductive tracks, circuit electrodes, screens and others. The growing electrical and electronics sector is driving the market and is offering major growth opportunities in the alumina trihydrate flame retardant industry. According to the Semiconductor Industry Association (SIA), global semiconductor sales reached US$151.7 billion in the first quarter of 2020, showing an increase of 23% over the first quarter of 2021.
NAFTA Alumina Trihydrate Flame Retardant Market: Electrical & Electronics Industry Leads the Market
On the basis of end-use industry, the NAFTA Alumina Trihydrate Flame Retardant market can be segmented into transportation, building & construction, textile, chemical & pharmaceutical, electrical & electronics and other industries. The alumina trihydrate flame retardant market’s leading segment has been evaluated to be electrical & electronics. During the forecast period 2022-2027, the electrical & electronics segment is expected to grow with a CAGR of 4.2%. Flame retardants are used in electronics and electrical devices such as computers, laptops, phones, televisions, household appliances and wires and cables to prevent fire from starting, limit the spread of fire and minimize fire damage. The growing use of electrical and electronic products is propelling the market. Consumer demand for electronics products is expected to rise as the population grows. As a result, NAFTA Alumina Trihydrate Flame Retardant products are seeing massive growth in the segment.
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NAFTA Alumina Trihydrate Flame Retardant Market: The United States Holds the Largest Share
On the basis of geography, the NAFTA Alumina Trihydrate Flame Retardant Market can be segmented into the United States, Mexico and Canada. According to IndustryARC’s analysis, the US has emerged as the most profitable region in the market. In 2022, the United States region held a 71% share of the total revenue earned by the market globally. According to OBERLO, the total revenue of consumer electronics in the US is expected to increase by 7.5% in 2023. NAFTA countries including India and China are ahead comparatively in terms of consumer electronics products in the NAFTA region. The NAFTA Alumina Trihydrate Flame Retardant Market would also gain demand from the United States. Canada is emerging as a competitive country in the NAFTA Alumina Trihydrate Flame Retardant Market.
NAFTA Alumina Trihydrate Flame Retardant Market: Competitive Landscape
Key companies holding major shares in the market NAFTA Alumina Trihydrate Flame Retardant are Nabaltec, Albemarleoration, Huber Engineered Materials, TOR Minerals, Almatis, Shandong Chuanjun Chemical, R.J. Marshall, Safic-Alcan UK, Niknam Chemicals Private Limited and Akrochem Corporation.
Mr. Venkat Reddy
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