ALBANY, New York, January 18, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Anhydrous Aluminum Chloride Market by Form (Powder and Granules) for Dyestuff & Pigments, Hydrocarbon Resins, Pharmaceuticals, Fumed Alumina, Flavors & Fragrances, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global anhydrous aluminum chloride market was valued at US$ 683.9 Mn in 2015 and is estimated to reach US$ 912.3 Mn by 2024, expanding at a CAGR of 3.3% between 2016 and 2024.
Anhydrous aluminum chloride, also known as aluminum trichloride (AlCl3), is an odorless, yellow, crystalline solid. It is produced primarily by the gaseous chlorination of molten aluminum through various processes. It is also as employed in polymerization and isomerization reactions of hydrocarbons. The product is highly irritating to eyes, skin, and mucous membranes. Anhydrous aluminum chloride is one of those materials that experiences uninterrupted supply, as the raw material required to manufacture it is available in abundance.
Currently, Asia Pacific is leading player of the global anhydrous aluminum chloride market and is followed by North America and Europe. The market for anhydrous aluminum chloride is expanding substantially, owing to speedy growth of pharmaceuticals and consumer goods industries. Growth in the cosmetics industry caused by speedily changing lifestyles of people is likely to fuel the global anhydrous aluminum chloride market during the forecast period. Growth of the food processing industry in South Asian countries such as Indonesia, and Myanmar is also driving the demand for anhydrous aluminum chloride. In terms of volume, Asia Pacific was the dominant region in the anhydrous aluminum chloride market; it accounted for more than 44% share in 2015. North America comprises of industrialized countries and mature markets. Owing to low prices, suppliers, particularly from Japan and the U.S., tend to serve their local markets, or meet the internal demand of the company and then sell surplus material, if any, at a low price. Thus, declining demand and unsustainable prices have left anhydrous aluminum chloride an unprofitable product. Over-capacity and low prices have led to plant closures in all developed regions, especially Europe.
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In 2000, the European countries was exported anhydrous aluminum chloride product to Asia, the Far East, and Latin America at extremely low price. East European countries have also witnessed dumping of cheap material from Western Europe. This over supply and low price scenario of product, affect significantly on a regional basis as plants close. Key players operating in the anhydrous aluminum chloride market include BASF SE, Aditya Birla Chemicals, Gulbrandsen, Nippon Light Metal Company Ltd., Gujarat Alkalies & Chemicals Ltd., Base Metal Group, and others. The report segments the global anhydrous aluminum chloride market as follows:
Anhydrous Aluminum Chloride Market: Form Analysis
Anhydrous Aluminum Chloride Market: Application Analysis
- Dyestuff & pigments
- Hydrocarbon resins
- Fumed alumina
- Flavors & fragrances
Anhydrous Aluminum Chloride Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Related Research Reports:
- Automotive Aluminum Market: http://www.transparencymarketresearch.com/automotive-aluminum-market.html
- Calcium Chloride Market: http://www.transparencymarketresearch.com/calcium-chloride-market.html
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