Aluminum Fluoride Market size is primed to showcase substantial growth between 2023 and 2032 driven by the cumulative use of the product in oil refining. Moreover, rising urbanization and booming residential and commercial expansions are set to foster industry growth over the forecast period.
The introduction of advanced processing systems for the development of high-density aluminum fluoride using flu-silicic acid is providing lucrative opportunities for market growth. Additionally, growing economies, significant use in the manufacturing of aluminum cans, uptake in the cosmetics, pharmaceutical, and automobile industries, soaring demand for lightweight vehicles, and infrastructure upgrades are among some other factors driving product demand.
Aluminum fluoride is available in dry, wet, and anhydrous forms, The dry aluminum fluoride market is speculated to gain positive traction in the coming years due to its extensive use in the production of aluminum. Dry AlF3 is used in the electrolysis process to produce aluminum. According to International Aluminum Institute, in January 2023, nearly 5,836 thousand metric tons of aluminum were produced across the world.
The construction segment is speculated to witness significant growth in the aluminum fluoride market through 2032 attributable to the growing number of construction operations, especially in developed areas. Aluminum is frequently used in partitions, fencing, ceilings, and other internal and exterior decors of building structures. In March 2022, construction output increased by 1.7% in volumes, registering a record high after January 2010, as per Office for National Statistics UK.
The aluminum fluoride market share from the chemical intermediates segment is primed to amass substantial gains by the end of 2032. The stringent regulations and guidelines induced by several governments on eco-friendly chemical processes are likely to foster the use of aluminum fluoride for chemical intermediates. For instance, in February 2023, US Environmental Protection Agency proposed the clean water act methods to reduce the disposal of harmful chemicals.
Asia Pacific aluminum fluoride market is slated to depict massive growth over the forecast timeline as a result of the expansion of consumer appliances, automotive, food and beverage, pharmaceutical, and construction sectors in nations such as China, India, Indonesia, and others. Expansion of these sectors will boost the demand for aluminum, fluorocarbons, ceramic, chemical intermediates, glass, optical fiber, and other materials. According to a report, passenger vehicle sale in India increased by 8% in January 2023.
Aluminum fluoride market key players include Do-Fluoride Chemicals Co., Ltd, Aluminium Corporation, Industries Chimiques du Fluor, United Company RUSAL, Fluorsid S.p.A., Tanfac Industries Ltd., and Rio Tinto Alcan. These companies are majorly engage in strategic alliances & partnerships to bolster their market position.