Aluminum Fluoride Market Growth and Industry Forecast 2023

Posted by Payal Singhania on March 9th, 2020

Aluminum Fluoride Market Overview

Aluminum fluoride is used in a wide variety of applications due to their capability of offering extended life, superior quality, enhanced efficiency, and stability to the final product. Thus, it is used in various applications such as automotive, construction, pharmaceuticals, aerospace, and others. The global aluminum fluoride market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing consumption of aluminum fluoride in refractory products, fermentation process, and others. It is estimated that the construction sector is set to observe the highest CAGR in the market due to growing consumption of the product in tiles, flooring, and others. Moreover, increasing demand for the product in aluminum metallurgy, optical material, and others are likely to witness a rapid growth during the forecast period. These factors have led China, India, and Japan to be the major players of this region.

The North American market is expected to grow at a higher CAGR due to extensive consumption of aluminum fluoride in aluminum metallurgy, optical material, oil refining, and others. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in end-use industries. Therefore, the growing demand for the product from end-use industries is estimated to drive the market during the forecast period.

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 A moderate development is achieved in Europe due to the growing demand for the product in pharmaceutical chemical, oil & gas industries, and others. Rapid urbanization coupled with technology have propelled the market to witness a better growth. Thus, countries such as Germany, the U.K, and Italy are the major contributors to this market.

A considerable development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of an inorganic compound in the production of welding agents, enamel, and others. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for solvents and intermediates in end-use industries.

Aluminum Fluoride Market Segmentation

The global aluminum fluoride industry is segmented into the type, and application. On the basis of the type, the market is segregated into dry, anhydrous, and wet segments. The market by the end-use is bifurcated into automotive, construction, pharmaceuticals, aerospace, and others.

Aluminum Fluoride Market Competitive Analysis

Some of the well-known players operating in the global aluminum fluoride market analysis are Do-Fluoride Chemicals Co., Ltd (China), Hunan Nonferrous Metals Corporation Limited (China), Fluorsid S.p.A. (Italy), Qingzhou Hongyuan Chemical Co Ltd (China), Rio Tinto Alcan Inc(Canada), Gulf Fluor (U.A.E.), DuPont (U.S.), Alfa Aesar.(U.S.), Mexichem S.A.B de C.V. (Mexico), and PhosAgro (Russia) among others.