Aluminum Fluoride Market to Perceive Substantial Growth During 2024
Aluminum
fluoride is white colored or colorless solid powder that can be
produced synthetically and is also found in nature with minerals such
as rosenbergite. Alumina and hexafluorosilicic acid are among the
vital raw materials that go into the production of aluminum fluoride.
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Nearly
all the aluminum fluoride globally produced is employed as a molten
electrolyte in the production of aluminum. Other niche applications
of aluminum fluoride include production of fluoroaluminate glasses.
Major
end user industries for aluminum fluoride include automobiles,
construction, aerospace and pharmaceuticals among others. Of these,
building and construction represents the largest end user segment for
aluminum fluoride and the trend is anticipated to continue for a
foreseeable future. Pharmaceuticals segment is expected to be the
fastest growing end user segment during the forecast period. The
construction industry’s strong performance can be credited for the
aluminum fluoride market’s growth. Moreover, growth in
infrastructure mainly in the developing economies is anticipated to
drive demand for aluminum fluoride.
Reviving
automotive industry in Asia Pacific and European regions is also
expected to be among foremost growth drivers for aluminum fluoride
market. Aluminum fluoride penetrates into human body through air or
can be absorbed by skin and leads to several health hazards including
asthma. The health hazards associated with aluminum fluoride is among
major restraints for aluminum fluoride market growth.
Aluminum
Fluoride Market: Regional Dynamics
Asia
Pacific dominates the global aluminum fluoride market both in terms
of consumption and production. China is the leading manufacturer of
aluminum fluoride across the globe and constitutes significant
portion of the global market share. Moreover owing to over
exploitation of major raw material sources in China, the production
is anticipated to decline in the near future. High GDP growth and
increasing disposable income in India and China have led to high
growth in several end user industries including automobiles,
pharmaceutical, packaging, aerospace, construction among others. High
growth in end user industries is expected to be among foremost
factors driving demand for aluminum fluoride in the region. Asia
Pacific is anticipated to be the fastest growing region for aluminum
fluoride market for a foreseeable future.
North
America is the second largest market for aluminum fluoride followed
by Europe. Increasing regulations to control the hazards associated
with aluminum fluoride has been restraining aluminum fluoride market
growth in the developed economies of North America and Western
Europe.
Demand
for aluminum fluoride in North America and Europe is anticipated to
grow at a sluggish rate during the forecast period. Underutilized
fluorspar reserves in South Africa coupled with increasing government
support to invest in the reserves is expected to drive market growth
for aluminum fluoride in the RoW region. Moreover, increasing demand
for aluminum fluoride driven by high growth in several end user
industries in the rapidly industrializing economies of South America
and Africa will likely present massive growth opportunities for
players in the aluminum fluoride market.
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Aluminum
Fluoride Market: Competitive Landscape
Aluminum
fluoride market is consolidated and few major players constitute
major portion of the global market share. Major players invest in
research and development activities owing to patent protected
technologies and to improve operational efficiency. The degree of
competition in the industry is expected to intensify during the
forecast period leading to increased price sensitivity. Some of the
major players in aluminum fluoride market are E. I. du Pont de
Nemours and Company, Alfa Aesar, Apollo Scientific Limited, Finetech
Industry and Shanghai IS Chemical Technology among others.
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