Aluminium Chloride Market Size and Growth: Insights into Market Dynamics
The global Aluminium chloride market is anticipated to create robust growth opportunities over the assessment period by registering a CAGR of 4.2% from 2022 to 2032. The global market was valued at US$ 873.2 Million in 2022 to reach a valuation of US$ 1,317.6 Million in 2032. The growth of the market is attributed to a global upsurge in industrialization.
Aluminium
chloride is widely available in crystal as well as powdered form which comes in
white color. It is considered one of the primary compounds of Aluminium and
chlorine. Some of the major applications of Aluminium chloride comprise
wastewater treatment, inks, metal precipitation, and food among others.
Further, it is used as a catalyst for Friedel-Crafts reaction in organic
synthesis and also for cracking of oil.
Aluminium
chloride is also extensively deployed in the manufacturing of various
petrochemicals which include ethyl benzene, ethyl chloride, alkylbenzene, and
alkyl aryl ketone. In addition, it also finds application as a key ingredient
in the polymerization reaction of various hydrocarbons. On the other hand,
fluctuating raw materials prices and difficulty in storing Aluminium chloride
are the major factors that are anticipated to limit the growth of the Aluminium
chloride market in the near future.
Download
a sample to obtain additional highlights and key points on various market
segments and their impact in the coming years @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1846
Report
Highlights
Aluminium
chloride plays as an intermediatory in the manufacturing of various
pharmaceuticals combining Ibuprofen (analgesic). It is also used for treating
pain, fever, and inflammation. There is a significant rise in the number of
obese people owing to shifting diets and unhealthy eating patterns. This is one
of the major factors that is expected to accelerate the growth of the Aluminium
Chloride Market during the forecast period.
The
augmenting demand for Aluminium chloride is powered by diverse applications of
the product. The wastewater treatment systems used as sludge
dewatering agent has helped to proliferate demand. Specifically, 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.
Recent
Developments
The
flourishing growth of the global Aluminium chloride industry is encouraged by
augmenting health issues among citizens of the United States and surging
pharmaceutical spending. Furthermore, the U.S. healthcare expenditure exceeded
4.6% 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.
A
significant upswing has been witnessed in industrialization which is
anticipated to be another factor propelling the demand for wastewater treatment
solutions so as to reduce pollution levels, which in turn is expected to boost
the market growth. Wastewater treatment is one of the major application areas
for Aluminium chloride, demand for Aluminium chloride is expected to in turn
witness steady growth during the forecast period.
It is
crucial to store anhydrous Aluminium chloride in a cool, dry, and
well-ventilated area. It is important to store the chemical away from moisture,
heat, any source of ignition, and strongly alkaline materials.
Due to
its hygroscopic and corrosive nature, anhydrous Aluminium chloride is difficult
to store. Therefore, it is manufactured and supplied based on the demand from
various end-use applications and requires excellent packaging for distribution.
Hence, storage and packaging play an important role in maintaining the quality
of this compound. This factor is expected to limit the growth of the Aluminium
chloride market during the assessment period.
Competitive
Landscape
Owing to
the presence of a high number of participants, the global Aluminium chloride
market is highly competitive. While global players such as Gulbrandsen, Gujarat
Alkalies & Chemicals Limited, BASF, and Aditya Birla Chemicals, account for
a considerable market size, several regional-level players are also operating
across key growth regions, particularly in North America.
In August
2017, DCM Shriram Industries announced a project to develop a plant in Bharuch,
India, that would produce 60 TPD of anhydrous Aluminium chloride. The project
was initiated in June 2018. Moreover, the company focuses on strengthening the
chlor-alkali business by expanding its production capacity.
Key
Segments Profiled in the Aluminium Chloride Industry Survey
By
Production Method:
- Chlorination of Aluminium
- Crystallization of Anhydrous
Aluminium Chloride from Solution of HCL
- Reaction of Bauxite with
Coke and Chlorine
By
Application:
- Waste water treatment
- Inks
- Synthetic rubber
- Lubricants
- Wood Preservatives
- Other Applications
By
End-Use Industries:
- Chemicals
- Pharmaceuticals
- Agro Chemicals
- Metal Production
- Pulp & Paper
- Others
Comments
Post a Comment