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Aluminum Chemicals Market Size
Aluminum Chemicals Market size is projected to depict substantial growth rate from 2024 to 2032, owing to increasing usage in the construction, automotive, aerospace, packaging, and electronics sectors. The intensifying rate of urbanization and industrialization across the world will also accelerate the adoption of aluminum chemicals.
The rising demand for recycling aluminum to reduce energy and carbon footprint for production processes is another key market driving factor. The recent advancements in the production of aluminum chemicals, such as electrolytic techniques and refining processes along with rising automobile sales will fuel the product demand. For instance, in 2022, automotive production in China, as reported by the China Association of Automobile Manufacturers, reached 27.02 million units, marking a 3.4% increase compared to the 26.08 million vehicles produced in 2021.
The surging environmental and health concerns, hike in raw material prices, availability of alternative materials in end-use industries, and limited infrastructure in developing countries for aluminum production may impede the industry growth to some extent. The presence of strict rules and regulations is also resulting in higher production costs and reduced profits, further encouraging market players to opt for other alternate options.
Aluminum Chemicals Market Trends
The increasing demand for aluminum chemicals in water treatment processes, particularly for municipal and industrial applications will fuel the industry growth. The rising adoption of aluminum chemicals in the production of zeolites will increase the product appeal. Furthermore, advancements in the development of sustainable and eco-friendly aluminum chemical solutions are helping meet the growing emphasis on environmental considerations. As an illustration, a study conducted by John Burns Real Estate Consulting (JBREC) anticipates a 34% to 51% growth in aluminum usage within the residential building and construction market by 2024. In the optimistic scenario, the study forecasts an additional 300 million pounds of aluminum use by 2025, partly attributed to the increased adoption of aluminum gutters and downspouts. This trend is expected to positively influence the market growth.
Aluminum Chemicals Market Analysis
In terms of application, the aluminum chemicals industry from the fire-retardant segment is anticipated to reflect significant CAGR between 2024 and 2032, attributed to the positive inclination of industries engaged in extreme temperature operations. Aluminum plays a vital role in preventing the spread of fire as it forms a protective oxide layer in building materials, aircraft, automobile components, electrical wiring, and many others. Additionally, the rising safety guidelines in these industries will boost the product use of in fire-retardant materials.
Aluminum chemicals market share from the water treatment end-use segment is projected to witness substantial growth by the end of 2032. This is propelled by the extensive use of aluminum-based chemicals, such as Al sulfate, and poly aluminum chloride to remove impurities from water due to their easy filtration qualities. Moreover, the surging importance of safe and clean water globally is likely to support the product adoption. The U.S. government invested over USD 50 million in clean water facilities under the Bipartisan Infrastructure Law. Such initiatives are elevating the installation and upgrading of water treatment facilities, further complementing the segment growth.
Regionally, the Asia Pacific aluminum chemicals market may depict massive growth over 2024 -2032 due to the booming building and construction, electronics, and aerospace industries in India, China, and Japan. According to a report published by International Trade Administration, China remains the global leader in both annual vehicle sales and manufacturing output, projecting domestic production to exceed 35 million vehicles by 2025. Thus, the increasing automobile production may fuel the demand for aluminum chemicals in the region. Along with this, the strong presence of electronic manufacturing companies and OEMS will drive the regional industry expansion.
Aluminum Chemicals Market Share
Key companies operating in the aluminum chemicals industry are engaging in effective R&D initiatives, product range-broadening tactics, and strategic partnerships to attain competitive edges. For instance, General Chemical is emphasizing various initiatives to offer manufacturing solutions around the world.
Some of the major aluminum chemical companies are:
- General Chemical
- Kemira
- Huber
- USALCO
- Feralco Group
- Solvay Rhodia
- GEO
- Showa Denko
- Kurita
- Aditya Birla
- Tenor Chemical
- KC Corp
- Zhongke Tianze
- Summit Chemical
- Nabaltec
- Jianheng Industry
- Albemarle
Aluminum Chemicals Industry News:
- For instance, in March 2022, SAIC Motor Corp Ltd, a Chinese automotive part manufacturer, announced the expansion of its R&D innovation headquarters facility with more than 10,000 employees.