Growing Consumption of Aluminum Fluoride in End-Use Industries Is Estimated To Drive The Market During The Forecast Period, 2023-2030

Aluminum fluoride is used in various processes such as catalyst reforming, hydrocracking, and others to increase yield and productivity of the product. It provides significant properties such as excellent performance, efficiency, and durable nature to the finished material. Moreover, they provide versatility and reliability to the product.

The global aluminum fluoride market has been driven by the range of its application in various uses such as automotive, construction, pharmaceuticals, aerospace, and others. Moreover, it is estimated that the construction sector is set to witness the highest growth in the market due to extensive use of AlF3 in heavy end-use industries.

Market Segmentation

The global aluminum fluoride market is segregated into the type, and application. On the basis of type, the market is segmented into dry, anhydrous, and wet segments. On the basis of application, the market is segregated into automotive, construction, pharmaceuticals, aerospace, and others.

Market Scenario

The construction sector holds the major portion in application sub-segment due to growing use of the product in numerous applications such as flooring, tiles, and others. The increasing infrastructural developments in the emerging and developed economies has propelled the market to witness a massive growth during the forecast period. It is predicted that the automotive sector is set to grow at a higher CAGR due to rapid consumption of the product in vehicles, interior parts, and others. The growing production of refractory materials and fillers is expected to drive the market in the forecast period.

Regional Analysis

The global aluminum fluoride market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to rising demand for the product in various applications. Countries such as China, Japan, and India are the major players in this region. The North American region is estimated to witness a higher growth in the U.S., Canada, and Mexico owing to the increasing demand for the inorganic compound in automotive, aviation, aerospace, and others. The enactment of new rules and regulations set by the European Union has driven the manufacturers to use fluoride products in a lesser amount in the end-use industries. Due to these factors, the market has propelled this region to witness a moderate growth in Germany, the U.K, and Italy.

The Middle East & Africa is estimated to observe a significant growth due to an increased consumption of product as a catalyst in end-use industries. Additionally, the growing demand for fluoride products in the fermentation process is projected to boost the market in the Latin American region.

Competitive Analysis

Some of the major players functioning in the global aluminum fluoride market are Do-Fluoride Chemicals Co., Ltd (China), Hunan Nonferrous Metals Corporation Limited (China), Fluorsid S.p.A. (Italy), Qingzhou Hongyuan Chemical Co. Ltd. (China), Rio Tinto Alcan Inc(Canada), Gulf Fluor (U.A.E.), DuPont (U.S.), Alfa Aesar.(U.S.), Mexichem S.A.B de C.V. (Mexico), and PhosAgro (Russia) among others.

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