Aluminium Hydroxide Market

The article delves into the expected growth trends of the global aluminium hydroxide market from 2022 to 2030, with a forecasted increase in consumption volume and market value. It provides an in-depth analysis of consumption patterns, production volumes, imports, and exports of aluminium hydroxide in key countries such as China, India, the United States, Japan, and Germany. The data shows a steady growth in both production and consumption, with fluctuations in import and export volumes over the analyzed period. Furthermore, it highlights the average prices of aluminium hydroxide in import and export markets, showcasing the performance of major exporting countries like Brazil, Australia, and Germany.

Market Forecast

Driven by increasing demand for aluminium hydroxide worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market volume to 31M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.4% for the period from 2022 to 2030, which is projected to bring the market value to $25.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Aluminium Hydroxide

Global aluminium hydroxide consumption stood at 22M tons in 2022, growing by 1.6% against 2021. The total consumption volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs at 22M tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global aluminium hydroxide market size was estimated at $15.8B in 2022, surging by 3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a measured expansion. As a result, consumption attained the peak level of $32.5B. From 2014 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The country with the largest volume of aluminium hydroxide consumption was China (3.1M tons), accounting for 14% of total volume. Moreover, aluminium hydroxide consumption in China exceeded the figures recorded by the second-largest consumer, India (1.2M tons), twofold. The United States (1.2M tons) ranked third in terms of total consumption with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +5.5%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.9% per year) and the United States (+4.9% per year).

In value terms, the largest aluminium hydroxide markets worldwide were China ($1.8B), the United States ($1.2B) and India ($433M), with a combined 22% share of the global market.

China, with a CAGR of +7.6%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of aluminium hydroxide per capita consumption in 2022 were Japan (6 kg per 1000 persons), Germany (4.6 kg per 1000 persons) and Turkey (4.4 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +5.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Aluminium Hydroxide

In 2022, the amount of aluminium hydroxide produced worldwide expanded slightly to 22M tons, with an increase of 1.5% against 2021. The total output volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 13%. Global production peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, aluminium hydroxide production rose modestly to $14.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 12%. Global production peaked in 2022 and is likely to see steady growth in years to come.

Production By Country

China (3.4M tons) constituted the country with the largest volume of aluminium hydroxide production, comprising approx. 15% of total volume. Moreover, aluminium hydroxide production in China exceeded the figures recorded by the second-largest producer, India (1.3M tons), threefold. Brazil (1.1M tons) ranked third in terms of total production with a 4.8% share.

In China, aluminium hydroxide production expanded at an average annual rate of +5.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+3.9% per year) and Brazil (+4.1% per year).

Imports

World Imports of Aluminium Hydroxide

In 2022, overseas purchases of aluminium hydroxide increased by 8.7% to 4.1M tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 13%. Global imports peaked at 4.2M tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, aluminium hydroxide imports soared to $2B in 2022. The total import value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

Japan (773K tons) and the United States (546K tons) were the main importers of aluminium hydroxide in 2022, reaching near 19% and 13% of total imports, respectively. South Korea (352K tons) took an 8.5% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (7.7%) and Italy (6.4%). Germany (174K tons), France (159K tons), Turkey (95K tons), the UK (87K tons), Thailand (86K tons), Mexico (81K tons), Sweden (80K tons) and Hungary (80K tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Hungary (with a CAGR of +27.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($270M), Japan ($263M) and South Korea ($166M) were the countries with the highest levels of imports in 2022, with a combined 36% share of global imports. Italy, France, the Netherlands, Germany, the UK, Turkey, Mexico, Thailand, Sweden and Hungary lagged somewhat behind, together comprising a further 32%.

Hungary, with a CAGR of +26.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average aluminium hydroxide import price amounted to $475 per ton, growing by 8% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2021 when the average import price increased by 12%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($716 per ton), while Hungary ($271 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Aluminium Hydroxide

In 2022, overseas shipments of aluminium hydroxide increased by 8.3% to 4.2M tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 13% against the previous year. The global exports peaked at 4.5M tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, aluminium hydroxide exports surged to $1.9B in 2022. Overall, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.5% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 26%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, Brazil (995K tons), distantly followed by Australia (499K tons), Germany (485K tons), Spain (423K tons), China (350K tons), Bosnia and Herzegovina (239K tons), Greece (233K tons) and the Netherlands (227K tons) were the largest exporters of aluminium hydroxide, together constituting 82% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of +23.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($393M), China ($212M) and Brazil ($196M) appeared to be the countries with the highest levels of exports in 2022, with a combined 43% share of global exports. Australia, the Netherlands, Spain, Bosnia and Herzegovina and Greece lagged somewhat behind, together accounting for a further 28%.

Among the main exporting countries, Bosnia and Herzegovina, with a CAGR of +28.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average aluminium hydroxide export price stood at $445 per ton in 2022, growing by 7.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 an increase of 13%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($810 per ton), while Brazil ($197 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform