The Aluminum Sulfate Market all set to invigorate between 2020 and 2026
Posted by Pradnya on March 30th, 2021
Persistence Market Research’s newly published market report titled “Aluminum Sulfate Market: Global Industry Analysis and Forecast 2018-2026,” examines the aluminum sulfate market and offers crucial market insights for the next eight years. According to the report, the water treatment segment of the aluminum sulfate market, by application, is expected to dominate the market, accounting for around 40.4% share of the overall market value by 2026 end while registering a CAGR of 3.1% during the forecast period (2018 – 2026). The estimated value of the global aluminum sulfate market in 2018 is expected to be US$ 1,741 Mn and the market is projected to reach US$ 2,214 Mn by the end of 2026.
Global Aluminum Sulfate Market Dynamics
The global aluminum sulfate market is estimated to be driven by growing demand from the rapidly growing wastewater plants & paper and pulp industry. Also, progress pertaining to increase in demand for food additives among customers is expected to result in demand rise in the aluminum sulfate market. Major players involved in the aluminum sulfate market are channelizing efforts to inculcate advanced process developments and strengthen their production infrastructure to make the available products more pure. This will encourage sales volume growth of aluminum sulfate across regions. Moreover, emphasis on mergers and acquisitions in end-use industries is also expected to gain momentum during the forecast period, thereby further pushing the growth of the global aluminum sulfate.
Aluminum sulfate finds a wide range of applications due to its physiochemical properties. It has commercial as well as industrial applications. In terms of commercial applications, aluminum sulfate is applied in poultry farms to lower the pH of litter and thus, decrease ammonia volatilization. The annual global demand for chickens is around 90 Million Tons. Thus, the poultry market is witnessing huge demand, which is expected to rise further in the coming years. This, in turn, will push the growth of the global aluminum sulfate market in future.
According to a UN-Water report, of the total water available on the Earth’s surface, only 0.5% is fresh water, which can be used for consumption and 60% of this available freshwater is unevenly distributed, with a major share concentrated among ten countries of the world. Thus, many regions suffer from water scarcity and water stress. The ever-rising demand for fresh water will drive the growth of the water treatment chemicals market, which in turn, is estimated to create opportunities for the global aluminum sulfate market during the forecast period.
Global Aluminum Sulfate Market Forecast
On the basis of application, the water treatment segment is expected to witness highest growth, in terms of volume, during the forecast period. As per the forecast, the water treatment segment is scheduled to account for more than 41.5% share in the overall market value by the end of the forecast period. This is largely due to the massive applications of aluminum sulfate in various industries.
On the basis of region, China is anticipated to dominate the global aluminum sulfate market throughout the forecast period. The region’s market is expected to expand at a CAGR of around 3.3% during the forecast period. SEA region is anticipated to display relatively higher market CAGR during the forecast period in the global aluminum sulfate market. These two regions coupled with Europe are expected to register attractive growth rates in the global aluminum sulfate market during the forecast period.
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Joined: February 3rd, 2017
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