Global Aluminium Fluoride Market To Be Driven By The Healthy Economic Growth In The Forecast Period Of 2023-2028 | EMR Inc.
The new report by Expert Market Research titled, ‘Global Aluminium Fluoride Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aluminium fluoride market, assessing the market based on its segments like type, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4%
Rapid urbanisation, increasing urban income, and industrial development are propelling the aluminium fluoride industry forward in the Asia Pacific, especially in China, Japan, India, and South Korea. China is one of the world’s largest producers of aluminium, and the country’s aluminium market is expected to expand over the forecast period as a result of increased collaboration between the government and other industries to encourage the development of cutting-edge technologies that reduce processed waste and lower production costs, boosting the growth of the aluminium fluoride market. The rising demand for aluminium fluoride in emerging economies such as China and India, as well as the increased use of reprocessed aluminium products, provide additional market expansion opportunities.
The demand in North America is expected to expand significantly due to increased product use in organic complex synthesis processes. Increasing investments and growing per capita sales in the North American region are expected to drive demand growth during the forecast period. Automobile producers in the United States are attempting to minimise car weight in order to comply with government restrictions on gas emissions, which could lead to an increase in the use of aluminium in vehicles, boosting the demand for aluminium fluoride.
Industry Definition and Major Segments
Aluminium fluoride (AlF3) is an inorganic compound with the molecular formula AlF3 that is used in several industrial processes, most notably in the manufacture of aluminium. It is a colourless solid that can be synthesised or contained in nature as the minerals rosenbergite and oskarssonite.
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Based on type, the market is segmented into:
Aluminium fluoride finds its application in the following segments:
- Chemical Intermediates
The global regions for the aluminium fluoride market include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Healthy economic development, especially in developing economies, is driving the aluminium fluoride industry, which could lead to an increase in the popularity of convenience packaged beverages and foods. The aluminium fluoride industry is expected to expand steadily in the coming years, thanks to its widespread downstream use in the manufacture of aluminium cans, which are gaining popularity due to their high recycling rates around the world.
The widespread use of aluminium fluoride in the manufacture of aluminium is expected to lead to increased demand for aluminium fluoride as the aluminium market grows. Aluminium ductility, conductivity, and malleability allow it to be used more frequently in the automotive, cosmetics, and pharmaceutical industries. Aluminium consumption in the motor vehicle industry is expected to increase further due to high car ownership rates and increased knowledge about reducing average vehicle weight. Aluminium consumption is expected to grow in the coming years due to increased consumer awareness of the benefits of aluminium and ongoing technological advances.
Ceramics, glass, transportation, beef, and cars are only a few of the industries that use aluminium. Aluminium is commonly used in the building industry due to its lightweight and corrosion resistance. It is also widely used in electrical transmission lines, which are expanding rapidly as a result of improved infrastructure. As a result, in the coming years, the extensive and rising downstream market for aluminium is expected to boost the demand for aluminium fluoride.
Key Market Players
The major players in the market are Do-Fluoride Chemicals Co., Ltd, Fluorsid S.p.A., Industries Chimiques du Fluor, Tanfac Industries Ltd., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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