Anhydrous Aluminum Chloride Market Size & Share Analysis

The Global Anhydrous Aluminum Chloride Market size is expected to grow from 1.40 million tons in 2023 to 1.86 million tons by 2028, at a CAGR of 5.81% during the forecast period (2023-2028). Major factors driving the market studied are the increasing usage in manufacturing pesticides for agriculture sector and growing demand as catalyst in chemical manufacturing.

New York, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anhydrous Aluminum Chloride Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06484125/?utm_source=GNW The Global Anhydrous Aluminum Chloride Market size is expected to grow from 1.40 million tons in 2023 to 1.86 million tons by 2028, at a CAGR of 5.81% during the forecast period (2023-2028).Major factors driving the market studied are the increasing usage in manufacturing pesticides for agriculture sector and growing demand as catalyst in chemical manufacturing. Volatility in raw materials prices and harmful waste effluents are expected to hinder the growth of the market studied.Key HighlightsThe anhydrous aluminum chloride market is blooming owing to the increasing application of anhydrous aluminum chloride as a catalyst in pharmaceuticals and chemical manufacturing including agriculture chemicals, polymers, flavors, and fragrances.The growth in chemical manufacturing industry and cosmetics industry will provide ample opportunities for the anhydrous aluminum chloride market to grow over the forecast period.Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, India.Anhydrous Aluminum Chloride Market TrendsIncreasing Demand from Chemicals Manufacturing SectorThe anhydrous aluminum chloride market is expected to bloom due to the increased use of anhydrous aluminum chloride as a catalyst in producing chemical intermediates such as dyes, namely anthraquinone, ethylbenzene, and meta phenoxy benzaldehyde.Anhydrous aluminum chloride acts as a Lewis acid, owing to which it is actively used as a catalyst in the pharmaceutical industry to manufacture ibuprofen and other drugs, which is propelling the demand for the anhydrous aluminum chloride market.The usage of anhydrous aluminum chloride as the primary catalyst in Friedel-Crafts reactions, both alkylation and acylation, as well as polymerization and isomerization of hydrocarbons, is stimulating market demand.It is used in the petrochemical industry in the production of hydrocarbon resins and in the production of inorganic chemicals like titanium dioxide and fumed alumina, which are enhancing market growth.In India, dyestuff and pigments are the only industries in the chemical sector that hold about 17% of the global market. According to the Ministry of Chemicals and Fertilizers, the production of dyes and pigments reached 327 kilotons in 2021.The textile industry is the biggest consumer of dye and pigment. Understanding the requirements of the textile industry gives tremendous benefits to the players in developing the products.Additionally, according to the National Council of Textile Organizations (NCTO), the total shipments of textiles and apparel reached USD 65.8 billion in 2022. The country became the third-largest exporter of textile-related products across the world, with combined exports of textile, fiber, and apparel reaching USD 34 billion in 2021.Even in North America, Europe, and other regions, the demand for pigments is high. To fulfill customer demand, players are expanding their production capacity. For instance, DCL Corporation already has five manufacturing plants in North America. In June 2022, the company started the expansion of Bismuth Vanadate manufacturing capacity at its Maastricht, Netherlands, location by 20%.Owing to all the above-mentioned factors, the market for anhydrous aluminum chloride is expected to grow rapidly over the forecast period.Asia-Pacific Region to Dominate the MarketThe Asia-Pacific region dominated the global market share. With growing applications in countries such as China, Japan, and India, the utilization of anhydrous aluminum chloride is increasing in the region.China is currently the largest market for dyes and pigments in the world, accounting for approximately 30% of global consumption. The growing textile industry and the increasing demand for paints and coatings in the country are the main drivers of this growth. Moreover, the growing population and increasing disposable income of consumers are expected to drive the demand for dyes and pigments in China in the coming years.China is expected to grow fastest in the region due to rapid industrialization, and the demand for anhydrous aluminum chloride to be used as a raw material and catalyst is increasing in various manufacturing industries.Increased government spending on industrial development, namely chemical manufacturing, pharmaceuticals, and cosmetics, in countries like China and India is expected to stimulate market demand over the forecast period.China has the world’s second-largest market for pharmaceutical products and is the fastest-emerging market for the sector. As per the report of the National Bureau of Statistics of China, the pharmaceutical industry in China generated revenues of more than CNY 3.3 trillion (USD 0.51 trillion) in 2021, representing year-on-year growth of around 20%. The Chinese pharmaceutical industry generated total revenue of over CNY 2.7 trillion (USD 0.39 trillion) in 2020.Furthermore, India is one of the few economies that is largely dependent on agriculture. Agriculture is still the primary source of livelihood for more than 55% of the population. According to the India Brand Equity Foundation, in FY21, the total gross value added by agriculture and allied sectors stood at USD 271.90 billion.Therefore, these aforementioned factors are expected to accelerate the applications of anhydrous aluminum chloride in various end-use applications, thereby propelling industry growth during the forecast period.Anhydrous Aluminum Chloride Industry OverviewThe anhydrous aluminum chloride market is fragmented with players accounting for a marginal share of the market. The key market players include Aditya Birla Chemicals, BASF SE, DCM Shriram, Gujarat Alkali and Chemicals Ltd., and Kanto Denka Kogyo among others (not in any particular order).Additional Benefits:The market estimate (ME) sheet in Excel format3 months of analyst supportRead the full report: https://www.reportlinker.com/p06484125/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________