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Aluminium Fluoride Market size is forecast to reach US$1.6 billion by 2027, after growing at a CAGR of 2.3% during 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 12, 2023 /EINPresswire.com/ -- Aluminium Fluoride Market size is forecast to reach US$1.6 billion by 2027, after growing at a CAGR of 2.3% during 2022-2027. Aluminium fluoride is an inorganic compound widely used in aluminium manufacturing through electrolytes which can be used in a variety of industrial processes, automotive, food & beverages and others. Growing demand for anhydrous type aluminium fluoride in ceramic and aluminium industry is rising demand for aluminium fluoride market. Various new technological advancements are being developed for the production of high-density aluminium fluoride using fluosilicic acid. According to International Aluminium Institute, 67,343 thousand metric tonnes of aluminium was produced in 2021 and 65,325 thousand metric tonnes of aluminium were produced in 2020. Therefore, the growing production of aluminium will boost the demand for the aluminium fluoride market during the forecast period.

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Key takeaways:

This IndustryARC report on the Aluminium fluoride market highlights the following areas -

1. The Asia Pacific is expected to register a CAGR of 3.1% during the forecast period (2022-2027). The increasing demand from end-use industries such as automotive, food & beverages, and others in Asian countries such as China, India, Japan, and South Korea is driving the market demand for aluminium fluoride.

2. The bolstering demand from building & construction has led to a rise in the production and sales of aluminium fluoride.

3. The increasing demand for aluminium based products is boosting demand for the aluminium fluoride market.

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Segmental Analysis:

1. Aluminium Fluoride Market Segment Analysis – By Type : The anhydrous segment accounted for around 27% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Anhydrous type aluminium fluoride offers a combination of excellent properties of lowering the melting point and increasing conductivity of an aluminium solution, across various sectors such as automotive, construction, and other industrial sectors. In addition, aluminium fluoride is a raw material to produce aluminium based products widely used in construction, ceramic and others.

2. Aluminium Fluoride Market Segment Analysis – By End-Use Industry : Building and construction industry accounted for approximately 19% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. The increase in construction activities across the globe is driving the demand for the aluminium fluoride market. Aluminium is a composition of an inorganic compound that is widely used in interior and exterior decors of building structures in fencing, partition, ceiling and many others. According to the Office for National Statistics UK, construction output increased by 3.5% in volume for November 2021, which is the largest monthly rise seen in construction output growth since March 2021.

3. Aluminium Fluoride Market Segment Analysis - By Geography : Asia Pacific region held the largest share in the aluminium fluoride market in 2021 up to 41%, owing to the growing consumer appliances, automotive, food & beverages, pharmaceutical, and large infrastructure projects, in developing countries like China, India, Indonesia, and others will boost the demand for aluminium, ceramic, fluorocarbons, chemical intermediate, optical fibre, glass and others. According to the China Association of Automobile Manufacturers (CAAM), the production of passenger cars is around 2140.8 lakhs in 2021 with an increase of 7.1% as compared to 2020.

Competitive landscape:

The top 5 players in the Aluminium Fluoride industry are:

1. Do-Fluoride Chemicals Co., Ltd
2. Rio Tinto Plc
3. Fluorsid S.p.A.
4. Industries Chimiques du Fluor
5. Tanfac Industries Ltd.

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