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Aluminium Chloride Market Size Forecast to Reach $1.5 Billion by 2026

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Aluminium Chloride Market Size Forecast to Reach $1.5 Billion by 2026

May 27
17:07 2021
Aluminium Chloride Market Size Forecast to Reach $1.5 Billion by 2026

Aluminium Chloride Market
Growing Demand From Pharmaceuticals Industry Driving the Growth of Aluminium Chloride Market.

Aluminium Chloride Market size is forecast to reach $1.5 billion by 2026, after growing at a CAGR of 4.7% during 2021-2026. The demand for aluminium chloride is powered by diverse applications of the product. In wastewater treatment systems, its use as a sludge dewatering agent has helped to proliferate demand. In particular, the use of low-cost aluminium chloride coagulants in domestic wastewater treatment has increased its popularity in the market for aluminium chloride. The demand has been boosted by increased research on the use of aluminium chloride as a coagulant in developing countries is also driving the market growth during the forecast period.
Impact of Covid-19
Due to the lockdown and various other issues regarding production, the demand of aluminium chloride in its application has reduced drastically, which tends to reduce the consumption of aluminium chloride, and thus constraining the growth of the market in the forecast period.

Aluminium Chloride Market Segment Analysis – By Form

Granule segment dominated the aluminium chloride market in 2020 with a share of more than 45%. Due to uses as a catalyst through several applications such as chemicals, cosmetics, the granular form of aluminium chloride is favored. Granule aluminium chloride is a solid Lewis acid that, even with weak bases such as benzophenone and mesitylene, is able to form Lewis base conjugates. It is used as a key catalyst for Friedel-Crafts (Alkylation and Acylation) reactions and is also used in hydrocarbon polymerization and isomerization, such as ethyl benzene, which is used in styrene.

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Aluminium Chloride Market Segment Analysis – By Application

Pigments and Dye sector held the largest share of more than 30% in the Aluminium Chloride Market in 2020, and is growing at a CAGR of 5.4% during the forecast period 2021-2026. The development of the aluminium chloride industry is fueling the rise in demand for dyes and pigments from the manufacturing, automotive and textile industries for painting, coating and varnishing purposes. In the processing of CPC green and blue anthraquinone, which is the base for dyestuffs, aluminium chloride is useful and serves as a catalyst to drive major intermediates of dye & pigment. According to Oxford economics, by 2030 the global construction industry will grow by 85 percent to $15.5 trillion worldwide and three countries account for 57 percent of global growth in India, China and the U.S. The use of aluminium chloride in dyes and pigments also improves the expansion of the construction industry.

Aluminium Chloride Market Segment Analysis – By Geography

APAC dominated the Aluminium Chloride Market share with as share more than 37.7%, followed by Europe and North America in 2020. Asia Pacific has demonstrated vast potential in recent years as a steadily growing market for aluminium chloride. The rapid speed of industrialization in Asia has encouraged the manufacturing of aluminium chloride for a number of industrial applications. In addition, the use of the compound in commercial and sanitary waste water systems has contributed to comprehensive specifications. Output in the region has also thrived owing to the rapidly rising demand in its developing economies for aluminum-based antiperspirants and personal care products over the past decade. According to the trade map, 408,430 tonnes of aluminium chloride were shipped worldwide in 2019, while only India and China exported 95,023 tonnes. Building activities throughout the country have also been enhanced by increased buying power and high living standards, increasing the use of aluminium chloride for dyes and paints in turn. In 2017, 53.2 percent of the overall pesticides in Asia were used, according to the Food and Agriculture Organization of the United Nations. In countries such as India, China, Indonesia, and Malaysia, excessive pesticide use also helps the development of the demand for aluminium chloride.

Aluminium Chloride Market Drivers

Growing demand from pharmaceuticals industry

Aluminium chloride is an intermediate in manufacture of various pharmaceuticals including Ibuprofen (analgesic) and is used for treating pain, fever and inflammation. The number of obese persons has risen by shifting diets and unhealthy eating patterns, which in turn has increased the use of aluminium chloride in the pharmaceutical industry. The growth of the aluminium chloride industry is motivated by growing health issues among citizens in the United States and increasing pharmaceutical spending. U.S. health care expenditure rose 4.6 percent in 2018, hitting $3.6 trillion or $11,172 per person, according to National Health Expenditure Reports (NHEA). Continuous investment in the pharmaceutical industry is also expected to support the growth of the demand for aluminium chloride. In addition, growing cases of coronavirus often fuel the development of the market for aluminium chloride because fever and body pain are one of the key symptoms of COVID-19 and aluminium chloride-based medications are used to curb it. COVID-19 confirmed cases crossed 4,904,413 worldwide on 21 May 2020, according to the World Health Organization (WHO).

Aluminium Chloride Market Challenges

Fluctuating raw materials prices and Difficulty in storing aluminum chloride

The raw materials needed for producing aluminium chloride are aluminium scrap and chlorine. Aluminum scrap from scrap dealers is collected, and chlorine is sourced from various suppliers of caustic soda and chlorine. The production price of aluminium chloride varies according to the supplier’s price of chlorine and the availability of aluminium scrap, as the production of aluminium chloride is highly dependent on the supply of chlorine. The factors like trade war between China and the USA, unstable economic conditions and disruption of global supply chain due to COVID-19, and geopolitical issues between emerging nations are the factors responsible for fluctuating the raw material prices, which in turn acts as a challenging factor to the market growth.
In a cold, dry, well-ventilated environment and away from moisture, heat, any cause of combustion, and highly alkaline materials, aluminium chloride is normally processed. It is impossible to store aluminium chloride, since it is hygroscopic and corrosive in nature. It is also assembled and distributed depending on the demand from several end-use applications and needs outstanding delivery packaging. Therefore, in preserving the consistency of this compound, storage and packaging play an important part.

Aluminium Chloride Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Aluminium Chloride Market. Major players in the Aluminium Chloride Market are GFS Chemicals, Gulbrandsen, Cellmark AB, Skyhawk Chemicals, Southern Ionics, Tokyo Kasei Kogyo Co. Ltd., Kemira kemi AB, GEO Specialty Chemicals, Inc., Noah Technologies Corporation., and among others.

Key Takeaways

Development in the chemical processing sector and the cosmetics industry will provide ample opportunities to expand over the projected period for the aluminium chloride market.

Asia-Pacific dominated the worldwide market with the biggest consumption from countries such as China and India.

The demand for the aluminium chloride industry in the United States is projected to rise during the forecast period due to well-established pharmaceutical industries and heavy government spending on health care. In 2018, U.S. health care spending increased by 4.6%, reaching $3.6 trillion.

Related Reports :

A. Anhydrous Aluminum Chloride Market

https://www.industryarc.com/Research/Anhydrous-Aluminum-Chloride-Market-Research-500189

B. Aluminum Chloride Hexahydrate Market

https://www.industryarc.com/Report/15286/aluminum-chloride-hexahydrate-market.html

For more Chemicals and Materials Market reports, please click here

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