NEWARK, Del, March 08, 2023 (GLOBE NEWSWIRE) -- 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.
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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.
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.
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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.
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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
More Insights into the Aluminium Chloride Market
The North American region is anticipated to dominate the global Aluminium chloride market over the evaluation period. The region accumulated around 20.9% in 2022.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Aluminium Chloride Market Analysis 2016-2021 and Forecast, 2022-2032
TOC Continued…!
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