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:
They have high refractoriness and are used as basic raw materials in the production of refractory bricks and monolithics used under very high temperature conditions.
Market key trends:
High alumina aggregate plays a key role in high-temperature insulation, corrosion resistance and lightweight construction in refractory industries. One of the key trends in the market is the increasing use of high alumina aggregate in steel industries. Steel production requires extreme operating temperatures over 1500°C which damage traditional construction materials. High alumina aggregate provides thermal resistance and insulation at such high temperatures thereby increasing the lifespan and reducing maintenance costs of steel plants and allied equipment. Furthermore, growing steel production across regions such as Asia Pacific and Middle East is expected to drive the growth of high alumina aggregate consumption over the forecast period.
Segment Analysis
The Global High Alumina Aggregate Market Size is segmented based on particle size into coarse aggregate and fine aggregate. The coarse aggregate segment is expected to dominate the market over the forecast period owing to its widespread usage in applications like refractory castables, mortars and gunning mixes. Coarse aggregates provide high mechanical strength and thermal shock resistance which makes them ideal for applications requiring heavy duty performance.
Key Takeaways
The global high alumina aggregate market is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing demand from refractory industry.
Regional analysis
Asia Pacific region is expected to be the fastest as well as dominating region in the global high alumina aggregate market owing to presence of large refractory production bases and growing infrastructure development activities in developing economies of China and India.
Key players
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. The global high alumina aggregate market is moderately consolidated with top players accounting for over 50% of the market share.
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