[250 Pages Report] Global Aluminum Chemicals demand is anticipated to be valued at USD 168 Billion in 2022, forecast to grow at a CAGR of 4.5%to be valued at USD 260 Billion from 2022 to 2032. Aluminum chemical usage is driven by their numerous applications in the water treatment, oil and gas, and agricultural industries.
| Report Attributes | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 162 Billion |
| Expected Market Value (2022) | USD 168 Billion |
| Anticipated Forecast Value (2032) | USD 260 Billion |
| Projected Growth Rate (2022 to 2032) | 4.5% CAGR |
Chemicals containing aluminum by the end of 2032, market share is expected to reach a significant worth. Aluminum chemical usage is driven by their numerous applications in the water treatment, oil and gas, and agricultural industries. These substances are catalysts, flocculants, coagulants, fire retardants, and fumigants. They are also used in the medical field in body implants and dental cements.
Increasing demand in the automotive and plastics industries would boost the aluminum chemicals industry forecast. These compounds are also used extensively in the pulp and paper industry. Companies that offer aluminum compounds will benefit from the rising food packaging sector and increased demand of paper packaging products. The widespread use of aluminum chemicals is fueled by their diverse uses in the water treatment, oil and gas, and agricultural industries.
Aluminum chemicals business size from the vehicle sector is predicted to develop at a rapid rate in the future years. This is due to the growing trend of car ownership across the world, as well as the increase in vehicle manufacturing. In the United States, for example, major manufacturers including as Ford, General Motors, and Fiat were seen ramping up vehicle manufacturing in June 2020 when COVID-19 limitations were released. Consumer demand for vehicles, particularly in the passenger car market, will undoubtedly benefit aluminum chemical suppliers.
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Aluminum hydroxide is a chemical that occurs naturally in the form of the mineral gibbsite. This product is used as a feedstock in the production of a variety of aluminum compounds, including specialty-calcined alumina. Sodium aluminate, an inorganic commercial chemical, is a good source of Aluminum hydroxide and is used in a variety of industrial and technical applications.
Aluminum compounds that are widely used in the medical, paper, and textile sectors include poly aluminum chloride, aluminum phosphide, and aluminum silicate. Such a broad range of applications is expected to boost the growth of the global aluminum chemicals market in the coming years.
Aluminum has a diverse range of uses. It is used as a pure metal in a variety of alloys and compounds, which are created by combining and melting two or more metals. Aluminum compounds are also used in the fertilizer sector, and aluminum hydroxide is used in the water purification process. Such a broad range of applications is expected to benefit the worldwide aluminum chemicals market throughout the study period, which runs from 2022 to 2032.
The massive demand from water treatment facilities, as well as the expanding usage of aluminum chemicals in the glass and ceramic industries, is the primary driving drivers for the aluminum chemicals market. Chemicals such as aluminum hydroxide, aluminum borate, and aluminum sulphate are widely employed due to their wide range of uses in the market, driving up demand for aluminum chemicals.
Stricter environmental regulations are being implemented, which will stifle growth. Environmental laws imposed by governments and groups will have a detrimental impact on the market. Rising environmental concerns, as well as residents' increased expectations for improved pollution levels, have compelled numerous governments to take action. On the other hand, the global automobile sector recession and adverse conditions caused by the COVID-19 pandemic are impeding market expansion.
During the projected period, the Asia-Pacific region is predicted to be the largest market for aluminum chemicals. Electronics, building and construction, aerospace, and other industries are expanding in nations such as China, India, and Japan, among others. Because of the presence of numerous OEMs in the area, the electronics manufacturing industry in Asia-Pacific is likely to develop substantially in the future years.
The availability of raw resources at low cost, along with inexpensive labor, is fueling the sector's expansion. Manufacturing and assembly services are provided by enterprises in the region to companies in Germany, France, and the United States. China is the largest user of aluminum chemicals used in the production of electrical devices and plastic materials used in the production of vehicle parts. As a result, Asia Pacific is likely to be the most important market for aluminum chemicals.
According to Future Market Insights, Given the geographical context, North America's aluminum chemicals market share will grow significantly between 2022 and 2032. The continued advances in the oil and gas and water treatment sectors are driving regional demand.
According to the USA Water Alliance, USA President Joe Biden has promised a major investment of USD 111 billion in water infrastructure projects. The US Department of Energy spent USD 40 billion in enhanced oil recovery (EOR) projects in July 2019. These characteristics, together with rising usage in food packaging, medical, and pharmaceutical applications, would considerably boost the regional outlook.
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Some of the key participants present in the global Aluminum Chemicals market include Krishna Chemicals, Sumito chemicals, General Chemical USA and Hindustan Produce Company among others.
Attributed to the presence of such high number of participants, the market is highly competitive.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
End Use, Application, Region |
| Regions Covered | North America;Latin America;Western Europe;Eastern Europe;Asia Pacific Excluding Japan;Japan;Middle East and Africa |
| Key Countries Profiled | USA,Canada,Brazil,Argentina,Germany,UK,France,Spain,Italy,Nordics,BENELUX,Australia & New Zealand,China,India,ASEAN,GCC Countries,South Africa |
| Key Companies Profiled | Krishna Chemicals;Sumito chemicals;General Chemical USA;Hindustan Produce Company |
| Customization | Available Upon Request |
FMI projects the global Aluminum Chemicals market to expand at a 4.5% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic Aluminum Chemicals market.
Krishna Chemicals, Sumito chemicals, General Chemical USA and Hindustan Produce Company among others are some prominent Aluminum Chemicals manufacturers
| Expected Market Value (2023) | USD 1,62,187.9 million |
|---|---|
| Anticipated Forecast Value (2033) | USD 2,98,779.7 million |
| Projected CAGR (2023 to 2033) | 6.3% |
| Market Size (2022) | USD 101.3 Million |
|---|---|
| Market Size (2032) | USD 206.8 Million |
| Value CAGR (2022 to 2032) | 7.4% |
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