According to FMI’s analysis, the market for aluminum chloride is expected to grow at a 4.6% CAGR over the estimated period. It is anticipated that the industry will grow to a market value of USD 905.5 million by 2023.
Over the course of the projection period, the chemical market is anticipated to grow steadily. The market is mainly being driven forward by aluminum chloride’s diverse applications.
Aluminum chloride is used in wastewater treatment systems, where its application as a sludge dewatering agent has propelled its demand. The use of affordably-priced chloride coagulants in domestic wastewater treatment is propelling its popularity in the global market. Ongoing research on applying aluminum chloride as a coagulant in emerging economies is also pushing the demand for aluminum chloride.
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The aluminum chloride industry is opening up new opportunities for manufacturers as the cosmetics and chemical processing sectors flourish.
From a regional viewpoint, developed continents are the matured markets or on the verge of maturity. The United States is also expected to maintain its leading position on a global scale over the forecast period. The market growth is attributed to the well-established pharmaceutical industries and substantial government expenditure on healthcare. As per past statistics, the health care expenditure appreciated by 4.6% in the United States in the year 2018, thus reaching US$ 3.6 trillion.
Developing economies within the Asia Pacific, like India and China, are projected to consume aluminum chloride at a rapid pace. The robust speed of industrialization is propelling the manufacturing of aluminum chloride for a variety of applications. Construction activities are also gaining momentum in the region as purchasing power, and living standards are appreciating, thus boosting the application of aluminum chloride for paints and dyes.
Top Highlights from the FMI’s Analysis of the Aluminum Chloride Market:
- The United States aluminum chloride industry is expected to gain a mighty share of 23.7% over the forecast period.
- In 2023, the German aluminum chloride industry is projected to acquire 12.6% in 2023.
- The Japan aluminum chloride industry is anticipated to procure a value share of 2.7% in 2023.
- The Australian aluminum chloride industry is expected to attain 0.4% in 2023.
- The China aluminum chloride industry is projected to expand at a CAGR of 3.4% over the upcoming period.
- The India aluminum chloride industry is projected to register a CAGR of 4.1% over the evaluated period.
- The United Kingdom aluminum chloride industry is anticipated to record a CAGR of 2.8% during the assessment period.
- Under the production method category, the chlorination of aluminum segment is projected to gain a 17.8% market share in 2023.
- Based on application, waste water treatment is projected to acquire a 30.3% market share in 2023.
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A Closer Look into the Aluminum Chloride Industry
Key companies are expanding their product offerings and opening business units in new geographies to acquire more customers. In tandem with this, the top manufacturers are establishing their foothold in new territories by partnering with local distributors for a robust supply chain. Other enterprise strategies the companies execute include mergers & acquisitions, joint ventures, and strategic alliances.
Firms are also investing their funds in research activities to discover new aluminum chloride applications. The expansion of product applications is projected to generate more demand for aluminum chloride in the market.
Top Key Players in the Aluminum Chloride Industry
- GFS Chemicals
- Gulbrandsen
- Cellmark AB
- Skyhawk Chemicals
- Southern Ionics
- Tokyo Kasei Kogyo Co. Ltd.
- Kemira Kemi AB
- GEO Specialty Chemicals Inc.
- Noah Technologies Corporation
- Ruigeng Chemical
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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