Anhydrous Aluminium Chloride Market to Grow with a CAGR of 4.27% through 2028
Surge in research and development activities is
expected to drive the Global Anhydrous Aluminium Chloride Market growth in the
forecast period, 2024-2028
According to TechSci Research report, “Anhydrous
Aluminium Chloride Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global
Anhydrous Aluminium Chloride Market stood at USD 932.46 million in 2022 and is
anticipated to grow with a CAGR of 4.27% in the forecast period, 2023-2028. The
initiatives taken by government based on Anhydrous Aluminium Chloride has led
to favorable market conditions for the Global Anhydrous Aluminium Chloride
Market. Several factors contribute to the growth of various Anhydrous Aluminium
Chloride products.
Given that anhydrous aluminium chloride is a highly
hazardous substance known for its potential violent or explosive reactions when
exposed to water, governments around the world have implemented stringent
regulations to ensure safe use and handling. For example, the New Jersey
Department of Health has published a comprehensive Hazardous Substance Fact
Sheet that provides detailed information on the properties, health hazards,
exposure limits, and necessary protective measures when dealing with anhydrous
aluminium chloride. This fact sheet serves as a valuable resource for individuals
and organizations involved in the handling or transportation of this substance.
Similarly, the Australian Government Department of
Health has conducted an extensive health assessment specifically focusing on
aluminium chlorides, shedding light on their corrosive nature as an anhydrous
substance. This assessment not only emphasizes the importance of proper
handling and storage practices but also underscores the need for individuals
and businesses to exercise caution and adhere to the recommended safety protocols
to mitigate any potential risks associated with aluminium chlorides.
By implementing these regulations and providing
detailed information and assessments, governments aim to safeguard public
health and the environment, ensuring the responsible use and management of
anhydrous aluminium chloride and related substances.
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Aluminium Chloride Market”
Recent breakthroughs in research and development have
unveiled exciting new possibilities for anhydrous aluminium chloride. This
versatile compound has demonstrated remarkable effectiveness in a myriad of
applications, ranging from the production of vibrant dyes and pigments to the
formulation of life-saving pharmaceuticals and the creation of durable
hydrocarbon resins.
Moreover, ongoing research is delving deeper into the
potential of anhydrous aluminium chloride in the energy sector. Scientists are
eagerly exploring its viability as a key component in energy storage devices
and fuel cells, envisioning a future where this compound plays a pivotal role
in powering our world sustainably. The promising results obtained thus far hint
at a future where anhydrous aluminium chloride's demand skyrockets,
revolutionizing the energy landscape and fostering a greener future for all.
The Global Anhydrous Aluminium Chloride Market is
segmented into form, application, regional distribution, and company.
Based on its form, the granule segment held the largest
share in the market. The increasing market growth of granular anhydrous
aluminum chloride can be attributed to its versatile use as a catalyst in
various applications. It finds its application in industries such as dyes and
pigments, pesticides, pharmaceuticals, cosmetics, and hydrocarbon reforming.
Moreover, the granular anhydrous aluminum chloride with its preferred particle
size has gained popularity in the export market, contributing to its growing
demand and success.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The Market is expected to be driven by the increasing
demand for dyes and pigments from emerging economies such as China, India,
South Korea, Vietnam, and other Southeast Asian countries during the forecast
period. These economies are experiencing rapid industrialization and
urbanization, leading to a surge in the consumption of dyes and pigments across
various industries including textiles, paints and coatings, and printing inks.
Furthermore, the Asia Pacific region is not only
witnessing significant growth in the dyes and pigments market but also in
sectors such as pesticides, pharmaceutical drugs, cosmetics, and metallurgy.
China, Japan, and India, in particular, are playing a significant role in the
production and consumption of these products, further fueling the market growth
in the region.
With the combined effect of these factors, the Asia
Pacific region is poised to exhibit a positive outlook in the coming years,
creating ample opportunities for market players to capitalize on the growing
demand and expand their presence in this thriving market.
Major companies operating in Global Anhydrous
Aluminium Chloride Market are:
- Aditya Birla Chemicals India Ltd.
- Base Metal International
- BASF SE
- DCM Shriram Ltd.
- Gujarat Alkali & Chemicals Ltd
- Gulbrandsen Manufacturing Inc.
- Kanto Denka Kogyo Co. Ltd
- Nippon Light Metal Company Ltd
- Shandong Kunbao New Materials Group Co.
Ltd
- Upra Chem Pvt. Ltd
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“Growing application of Anhydrous Aluminium Chloride in
various end user industries are key drivers of the Anhydrous Aluminium Chloride
Market. Growth in competitive landscape and presence of well-established companies
in the market who are dedicated to enhance their productivity of Anhydrous
Aluminium Chloride with every passing year are anticipated to register an
impressive growth to Global Anhydrous Aluminium Chloride Market in the forecast
period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Anhydrous Aluminium Chloride Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Form (Granule and Powder), By Application (Dyes & Pigments, Pesticides, Pharmaceuticals, Hydrocarbon Resins, Fumed Alumina, Others), By Region and Competition, 2018-2028F”, has evaluated
the future growth potential of Global Anhydrous Aluminium Chloride Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Anhydrous Aluminium Chloride Market.
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