Recovery in the automotive industry and demand for metallurgical grade to augment the growth of aluminum fluoride market suppliers evaluates the market study by Future Market Insights. According to the report, apart from a minor setback in 2020, the market is expected to have a positive outlook through 2021 and beyond.
Rising demand for a metallurgical grade in industrial and commercial sectors to propel the aluminum fluoride growth through 2031. Properties such as low melting point, and high efficiency in solution conductivity are increasing the usage of metallurgical grade in the automotive and construction industry.
Although, disadvantages like high-cost laboratory set-ups, lack of professional handling, and risk of hazards are likely to cause a challenge for aluminum fluoride manufacturers. Despite these restraints, numerous automotive and construction projects in the upcoming years are expected to overcome the challenges and provide future expansion prospects for manufacturers.
For instance, according to the U.S. Auto Industry and EU car sales report, sales for light vehicles were recorded to total US$ 17.2 million in 2018 and are expected to increase by 10% in the upcoming years. These numbers indicate the surging demand for aluminum fluoride among suppliers and manufacturers.
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“High investment in research and development activities in automotive industry and high demand of metallurgical grade among suppliers is expected to boost the market demand,” remarks the FMI analyst.
Key Takeaways
- Concrete admixture to account for over 35% of market share in 2021
- Based on grade, the metallurgical grade is the most lucrative segment through 2021
- High demand from the automotive industry to make the US the highest revenue-generating aluminum fluoride market
- Germany to vanguard European aluminum fluoride market, owing to the high demand for metallurgical aluminum fluoride
- China is expected to lead the market in Asia Pacific through 2031 backed by increasing application in the construction industry
- A steady flow of raw materials and a well-developed construction sector create lucrative growth opportunities for manufacturers in India
- Application in automotive and laboratory research sector to push aluminum fluoride sales
Prominent Drivers
- Rising demand from the building & construction industry for aluminum fluoride is bolstering the market growth
- Recovery in the automotive and residential construction industry to create growth opportunities for aluminum fluoride manufacturers
- Cost-effectiveness in diverse end-use industries is expected to drive the demand
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Key Restraints
- Sluggish growth recorded due to the pandemic is likely to create slow growth opportunities for aluminum fluoride suppliers
- Costly laboratory set-ups are expected to pose a challenge for the aluminum fluoride manufacturers
Competitive Landscape
Aluminum fluoride suppliers profiled by FMI include Alufluoride Ltd., Rio Tinto PLC., Tanfac Industries Ltd., Fluorsid S.p.A, Mexichem S.A.B. de C.V., Industries Chimiques du Fluor, PhosAgro PJSC, Do-Fluoride Chemicals Co. Ltd., Pingquan Greatwall Chemical Co. Ltd., Gulf Fluor, AB Lifosa, and Alufluor AB among some others. According to the study, the market seems to be highly competitive. Leading players are launching diverse products to maintain their position in the industry.
In December 2020, AluFluoride Ltd., announced the completion of its expansion of a new Aluminum Fluoride plant to increase the production capacity by 2.68%.
Likewise, in 2020, Aluminium Bahrain B.S.C (ALBA) signed a long-term agreement with an Italian leading producer of fluorochemicals, Fluorsid which made it the world’s largest smelter with the production of 1.5 million metric tons.
More Insights on FMI’s Aluminum Fluoride Market
In its latest report, Future Market Insights offers a detailed segmentation of the global aluminum fluoride market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
To gain a better understanding of the global market potential, its competitive landscape, drivers, restraints, and opportunities, the market is segmented based on grade (metallurgical grade, and another industrial grade), application (aluminum, fluorocarbons, ceramics, and chemical intermediate), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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Frequently Asked Questions
- Which are the top companies providing aluminium fluoride?
- Which are some of the lucrative markets for aluminium fluoride?
- Which applications account for high sales of aluminium fluoride?
- Which grade is highly sought-after in aluminium fluoride industry?
Explore FMI’s Extensive ongoing Coverage in the Chemicals & Materials Domain
Fluoride Materials Market: Fluorine is a chemical compound having high reactivity. It reacts with salt to form fluoride compound. Fluoride compounds are abundant in the earth’s crust and naturally found in soils and rocks.
Barium Fluoride Market: Barium Fluoride is chemically termed BaF2 with the chemical composition of barium and fluoride. Barium fluoride is a salt and water-insoluble barium source that is used in oxygen-sensitive applications including metal production.
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