The anhydrous aluminum chloride market is projected to grow at a CAGR of 4.19% from 2017 to 2022
NEW YORK, March 27, 2018 /PRNewswire/ -- The anhydrous aluminum chloride market is projected to grow at a CAGR of 4.19% from 2017 to 2022.
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The anhydrous aluminum chloride market is estimated to be USD 772.8 million in 2017 and is projected to reach USD 948.6 million by 2022, at a CAGR of 4.19% from 2017 to 2022. This growth is mainly driven by the increased use of anhydrous aluminum chloride in various applications, such as dyes and pigments, pesticides, pharmaceuticals and cosmetics, hydrocarbon resins, and fumed alumina. The fluctuating price of raw materials acts as a restraint to the growth of the anhydrous aluminum chloride market.
Based on form, the granular segment of the anhydrous aluminum chloride market is projected to witness the highest growth during the forecast period.
The granular form segment is the fastest-growing segment of the anhydrous aluminum chloride market. The demand for granular anhydrous aluminum chloride is primarily driven by its characteristics, such as excellent flow properties, particle size uniformity, small surface area, and increased compressibility.
Based on application, the dyes and pigments segment is projected to witness the highest growth during the forecast period.
The dyes and pigments segment is the fastest-growing application segment of the anhydrous aluminum chloride market.Anhydrous aluminum chloride is used as a catalyst to derive major dye intermediates, such as anthraquinone, phthalocyanine green, ethylbenzene, and metaphenoxy benzaldehyde.
The demand for dyes and pigments is driven by their increasing use in textiles, printing inks, plastics, and paints & coatings.
China is the largest and the fastest-growing market for anhydrous aluminum chloride in APAC as well as globally.
China is the largest and the fastest-growing market for anhydrous aluminum chloride in APAC as well as globally. Rapid industrialization, high demand for anhydrous aluminum chloride from various applications, and increased government spending on industrial developments are key factors projected to drive the growth of the anhydrous aluminum chloride market in China.
China is the leading producer and consumer of dyes and pigments.Anhydrous aluminum chloride is used as a catalyst in the manufacture of dyes and pigments.
Thus, the increased demand for dyes and pigments in China is projected to influence the growth of the anhydrous aluminum chloride market in this country.
Extensive primary interviews were conducted to determine and verify the market sizes of various segments and subsegments obtained from the data gathered through secondary research. The breakdown of primary interviews is given below.
• By Company Type - Tier 1 – 54%, Tier 2 – 35%, and Tier 3 – 11%
• By Designation - C-Level Executives – 44%, Directors – 34%, and Others – 22%
• By Region - APAC – 63%, Europe – 18%, North America – 12%, South America– 4%, and the Middle East & Africa – 3%
Key players profiled in the anhydrous aluminum chloride market report include Gulbrandsen (US), Aditya Birla Chemicals (India), Gujarat Alkalies and Chemicals (India), BASF (Germany), Kemira Oyj (Finland), and Nippon Light Metal (Japan).
Research Coverage:
This report covers the consumption of anhydrous aluminum chloride in different applications and regions.It aims at estimating the size and future growth potential of the anhydrous aluminum chloride market and its segments based on form, application, and region.
The report also includes an in-depth competitive analysis of key players operating in the anhydrous aluminum chloride market, in addition to their company profiles, recent developments, and key growth strategies.
Key Benefits of Buying the Report:
This report aims at helping market leaders/new entrants in the anhydrous aluminum chloride market by providing them the closest approximations of revenues for the anhydrous aluminum chloride market and its subsegments.It also aims at helping stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses by adopting suitable market strategies.
The report provides information on key market drivers, restraints, challenges, and opportunities, which help stakeholders understand the pulse of the market.
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