North America Activated Alumina Market size exceeded USD 35.92 million in 2020 and is anticipated to exhibit a CAGR of 7.2% from 2021 to 2027. Rising demand for clean water along with growing environmental concerns in this region will fuel the industry growth.
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Activated alumina is widely used in sewage treatment plants due to its low cost and ability to absorb rather than the filtration technique. It is used as a treatment medium in water with high dissolved solids and sulfate concentration, proliferating the demand for activate alumina.
The ongoing COVID-19 pandemic will create challenges for the industry players owing to the shutdown of production units across the region over a short period of time. Amid the coronavirus spread, the U.S. adopted stringent norms including lockdown and social distancing to curb the number of cases. In North America, the pandemic had a direct impact, reducing the natural gas demand by 5% - 10% compared to the pre-crisis growth forecast. In addition, the demand for refined product is gradually dipping to 20% owing to the shutdown of the airlines industry and increasing storage costs.
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The catalyst segment will witness over 7.4% growth rate during the forecast timeline. The product is widely used as a catalyst matrix component with varying chemical and physical properties such as porosity, purity, surface area, density, thermal resistance & acid stability. It is used for sulfur recovery in natural gas processing plants and oil refineries.
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In 2020, the water treatment sector generated USD 10 million revenue in the North America market. The growing global demand for water treatment coupled with the increasing demand for purified drinking water in developing regions will promote the industry growth. In addition, government regulations, such as the Municipal Wastewater Treatment Directive, are aimed at protecting the aquatic ecosystem, making them the major driving force in the market.
U.S. activated alumina market is set to expand at 7% CAGR through 2027. United States is one of the largest crude oil producers and is expected to grow due to the increasing demand for oil & natural gas in various emerging markets. According to International Energy Agency (IEA), the expansion of U.S. refineries and the continued production of crude oil are likely to strengthen the country's position as a major global oil exporter. Furthermore, companies, such as ConocoPhillips, Chevron, and ExxonMobil, are investing heavily in the discovery and exploration of new crude oil reserves.