LONDON–(BUSINESS WIRE)–Technavio research analysts are expecting positive growth for the global metals and minerals market over the next four years. Between 2016 and 2020, many segments of the metals and minerals market including high-purity alumina, geosynthetics and zeolite will see a significant increase in revenue.
Technavio’s market research analysts estimate the global high-purity alumina market to grow at a phenomenal CAGR of over 27% by the end of 2020. A key growth driver for this market is the growing adoption of LED lighting systems. During 2015, single-crystal sapphire used in the manufacture of LEDs accounted for more than 55% of high-purity alumina production. Advantages like its long life span, low radiated heat, reliability, and brightness will lead to the increased adoption of LEDs during the forecast period. Since these lights can easily be adapted and used in industrial, residential, office, retail, hospital, and outdoor settings, its rate of adoption among the end users will also increase significantly. This increase in the adoption of LED lights for a wide array of applications will lead to the strong growth of this market over the predicted period.
At present, the APAC region is the largest market for high-purity alumina and is anticipated to grow at a CAGR of nearly 28% by 2020. In APAC, China will be the major revenue-contributing country for LEDs due to the presence of a large number of LED lighting manufacturing companies in this region. Additionally, the manufacturer’s focus on the industrial lighting segment will also lead to the growth of this market during the next few years.
Aside from the high-purity alumina, the second most sought after market in metals and minerals is the global geosynthetics market which will grow at a steady CAGR of close to 11% until 2020. There is a huge market demand for geosynthetics in developing economies like Brazil, Russia, India, and China for the construction of civic infrastructure projects like roads and railways. Non-woven geosynthetic materials help in drainage and reinforcement of roads. Additionally, geosynthetics are also being used to control soil erosion in reservoirs and coastal areas. Consequently, the demand for geosynthetics in this region is expected to be quite high throughout the forecast period.
“These materials function very well as moisture barriers and are, therefore, used in the construction of railway tunnels. Since geosynthetic materials play a crucial role in prolonging the lifespan of roads and railways, its demand among the end users will rise over the next few years,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for chemicals and materials research.
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In recent times, there is an increase in the use of zeolite as refrigeration adsorbents owing to their non-flammable, non-poisonous nature and natural availability. Zeolites are generally used as cooling agents in the refrigeration adsorption systems. Adsorption refrigeration systems are gaining popularity because they can be stimulated by low thermal energy. Also, these systems make use of refrigerants that do not emit chlorofluorocarbons (CFCs).
An important trend gaining traction in this market is the growing usage of zeolites as a substitute for sodium tripolyphosphates. Several governments have restricted the use of phosphates in detergents as their usage reduces the water quality. Zeolite-A has come up as an eco-friendly alternative to sodium tripolyphosphate, which maintains the maximum builder efficiency and softness for wash water. Thus, zeolites offer superior and economical wash, which in turn will boost growth prospects for this market in the coming years.
Some of the key vendors for the metals and minerals market include Alcoa, Norse Hydro and Orbite Technologies for high-purity alumina, Agru America, GSE Environmental and Low and Bonar for geosynthetics, and Arkema, BASF and Honeywell zeolite.
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