CHALCO(SH:601600) Chan Ye Xin Xi Wang·2025-09-30 01:48Core Viewpoint - The demand for high white aluminum hydroxide is increasing due to urbanization and advancements in the power grid, with applications in various industries including cables, pharmaceuticals, and chemicals [1][4][8]. Market Overview - High white aluminum hydroxide is a high-purity, high-white product with a whiteness of ≥93%, used as a flame retardant and filler [2][3]. - The market demand for high white aluminum hydroxide in China is projected to reach 732,700 tons by 2024, with a market size of 2.639 billion yuan and an average price of approximately 3,601.75 yuan per ton [1][8]. Market Policies - A series of policies have been implemented to support the development of the high white aluminum hydroxide industry, including plans for industrial equipment updates and green finance initiatives [4]. Industry Chain - The industry chain consists of upstream raw material suppliers (bauxite, caustic soda), midstream production enterprises, and downstream application markets covering various sectors [5]. - China's bauxite production is expected to reach 93 million tons in 2024, reflecting a 2.2% year-on-year growth, providing a stable supply for the high white aluminum hydroxide industry [5]. Demand Structure - The demand for high white aluminum hydroxide is primarily driven by industrial-grade functional fillers, which account for over 80% of the total demand, with applications in flame retardants, artificial stones, and daily chemicals [7]. Competitive Landscape - The market is becoming increasingly competitive as traditional aluminum companies explore high white aluminum hydroxide, with key players including Luoyang Zhongchao New Materials Co., Ltd. and China Aluminum Shandong Co., Ltd. [8][9]. - China Aluminum Shandong Co., Ltd. is recognized for its comprehensive product range and significant production capacity in fine aluminum oxide [9]. Development Trends - Future trends indicate that companies will focus on technological innovation and green production practices to enhance efficiency and reduce environmental impact, potentially leading to increased industry concentration [11][12].