The global calcium aluminate market size was valued at USD 4.46 billion in 2023. The industry is expected to expand from USD 4.65 billion in 2024 to USD 7.20 billion by 2032, exhibiting a CAGR of 5.6% over the study period.
The typical representation of calcium aluminate is by the chemical formula CaO·Al2O3, which depicts a compound comprising one calcium oxide molecule bonded with two aluminum oxide molecules. The growth in infrastructure projects is bolstering the product demand, propelling the market expansion. The product has a quick setting, superior resistance to acidic environments, and a high melting point, which makes it a preferred choice in several construction scenarios.
Moreover, the COVID-19 pandemic led to disruptions in the supply chains, which can be attributed to the shutdown of processing plants and mining operations, transportation restrictions, and scarcity of labor. Owing to this factor, challenges were witnessed by the producers of the product in securing raw materials, resulting in potential shortages and production delays.
Fortune Business Insights™ provides this information in its research report, titled “Calcium Aluminate Market Size Report, 2024-2032”.
Calcium Aluminate Market Segmentation:
Common Utilization of Sintered Type in Ceramics to Foster the Segment Expansion
On the basis of type, the market is bifurcated into sintered type and pre-melting. The sintered type segment led the market as the most common deployment of sintered type in industries, including cement production, ceramics, and refractories, owing to its resistance to thermal shock and corrosion, high melting point, and other desirable properties, is bolstering the segment growth.
Steel Refining Segment Secured Largest Share Owing to Tightening Quality Needs of Steel Manufacturers
Based on application, the market is classified into calcium aluminate cements and steel refining. The steel refining segment captured the largest market share in 2023. This can be attributed to strict quality needs of steel manufacturers for their products. Moreover, the product aids in getting the expected quality of steel by reducing impurities, improving desulfarization, and encouraging slag fluidity.
On the regional front, the market is segregated into Latin America, the Middle East & Africa, Europe, North America, and the Asia Pacific.
Report Coverage
The market research report provides an in-depth analysis of the key strategic initiatives taken by leading companies to gain a competitive edge. It also comprehensively analyzes the COVID-19 pandemic impact, the top trends, and major industry developments. Other aspects of the report include the key driving and restraining factors affecting the market growth.
