Anhydrous Aluminium Chloride Market To Reach USD 1.12 Billion By 2026 | Reports And Data
Anhydrous Aluminium Chloride Market Size - USD 796.2 million in 2018, Market Growth - CAGR of 4.3%, Anhydrous Aluminium Chloride industry Trends - Product launches and research for advanced anhydrous aluminum chloride
The upswing in industrialization, increasing use of anhydrous aluminum chloride as a catalyst, rise in domestic production of dyes and chemical pigments, increased use in consumer goods, cosmetics, and pharmaceuticals are key factors contributing to high CAGR of anhydrous aluminum chloride market during the forecast period
NEW YORK, Oct. 29, 2019 /PRNewswire/ -- According to the current analysis of Reports and Data, the global anhydrous aluminum chloride market was valued at USD 796.2 Million in 2018 and is expected to reach USD 1.12 Billion by the year 2026, at a CAGR of 4.3%. Anhydrous aluminum chloride is an odorless white crystalline solid, which is also known as aluminum trichloride. It often gives a yellow color due to contamination and is synthesized from gaseous chlorination of molten aluminum. Anhydrous Aluminum Chloride is used as a catalyst in the processing of pharmaceuticals, agricultural chemicals, polymers, flavors, and fragrances.
Flourishing apparel, construction, and automotive industry will contribute in anhydrous aluminum chloride market growth due to the wide application of the product in dyes & pigments, which are used continuously in textiles, paints & coatings, varnishes, etc. The product is also utilized in the cosmetics industry in synthesizing perfumes, deodorants, and other fragrances. Prompt changes in the lifestyle of people are likely to fuel the growth of the cosmetic industry in the coming years. The upswing in industrialization demands more for wastewater treatment solutions thus increases the demand for aluminum chloride and boosts the market. Stringent regulations have been imposed by the government on the usage of the product due to its hazardous and toxic nature for human health and environment. It hampers the growth of anhydrous aluminum chloride market size in the coming future.
Dyes stuff and pigments have extensive applications in the construction, apparel, and automotive industry, which contribute to the growing trends in the future. On the other hand, fumed alumina has a wide range of applications as adhesives and sealant in paint & coatings, packaging, and other industries.
Asia-pacific is undergoing faster industrialization, urbanization, pharmaceutical, paints, and coating industries, which are driving the demand for anhydrous aluminum chloride for various applications and contributing to the growth in anhydrous aluminum chloride market.
Granule's form of the material is its dominating segment. This is mainly due to various applications where the granules are used, thus being more valuable than the powdered form.
The dyes and pigments segment is showing the fastest growth of the anhydrous aluminum chloride market. Anhydrous aluminum chloride is used as a catalyst to derive major dye intermediates.
Granule form segment of anhydrous aluminum chloride is valued at USD 3 million in 2018 and is expected to grow rapidly with a market share of 54.5%.
Rise in domestic production of dyes and chemical pigments. Also, China, Japan, and India are major producers and consumers of pesticides, pharmaceutical drugs, and cosmetics in Asia-Pacific with CAGR of 5.2%.
Hydrocarbon resins are valued at USD 89.5 million in 2018 and expected to reach USD 126.27 million in 2026 with steady growth.
Some of the key market players in anhydrous aluminum chloride are BASF SE, Kemira, Gulbrandsen, Gujarat Alkalies & Chemicals Ltd., Aditya Birla Chemicals, Base Metal Group, Xiangshui Long Yang and Lynwon Group.
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