Global Aluminum Fluoride Market - 2019-2026
Aluminum Fluoride is the odorless white powder or granules used in the production of aluminum metal and fluoroaluminate glasses. It enables the aluminum producers to streamline production and ensure a pure end-product. It possesses the electrolytic properties which could be used for producing the aluminum through molten salt baths.
The global Aluminum Fluoride market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market growth is driven by the rising demand for the aluminum fluoride in the pharmaceutical, construction, and food industry due to its properties such as high ductile, conducting and malleable. There is increased usage of aluminum fluoride in the manufacturing of glass, vehicle motor, low index optical thin plates, aluminum silicate, fermentation process.
Moreover, the growing government initiatives for the removal of tariffs for steel and aluminum imports especially in developed countries is fueling further market growth. For instance, in May 2019, the United States government had entered into the agreement with Canada and Mexico government to remove the Section 232 tariffs for steel and aluminum imports from those countries and for the removal of all retaliatory tariffs imposed on American goods by those countries.
However, the rising number of health hazards due to the penetration of aluminum fluoride into the human body through the air or absorbed by the skin is hindering the market growth.
Global aluminum fluoride market is segmented based on type as dry, anhydrous, and wet Anhydrous segment is witnessing the positive growth due to increased usage of Anhydrous aluminum fluoride for the production of aluminum metals
Further, the market is also classified on the basis of application into automotive, construction, pharmaceuticals, aerospace and others. The construction segment accounts for the highest market share due to rising growth in the infrastructure in the developing countries.
By region, the global aluminum fluoride market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. The Asia Pacific accounts for the highest market share due to the high consumption and production of Aluminum Fluoride. China and India are witnessing positive growth due to high GDP growth, rising disposable income, and purchasing power.
Increasing investments and rising per capita income are driving market growth in North America. It has been observed that the increasing number of government regulations for controlling the hazards could have a negative impact on market growth in North America and Europe. Technological advancement and product innovation for the production of the less carcinogenic product is fueling the market growth in Western European Countries such as the U.K., Italy, Germany, and France.
South America and Africa are expected to have drastic growth due to rising demand and industrializing economies. Latin American is witnessing the growing consumption of aluminum fluoride in aluminum metallurgy, optical material, pharmaceuticals, and food industries.
There are several local and international players present in the market which are conducting the research and development activities for improving the operational efficiency and patent threatened technologies for aluminum fluoride. Competition in the market is expected to increase with the rising price sensitivity among the players.
Do-Fluoride Chemicals Co., Ltd., Hunan Nonferrous Metals Corporation Limited, Fluorsid S.p.A., Qingzhou Hongyuan Chemical Co Ltd., Rio Tinto Alcan Inc(Canada), Gulf Fluor, DuPont, and Alfa Aesar are the key players with the significant market share.
The companies are entering into the collaborations, mergers, strategic partnerships and acquisitions to increase the demand for aluminum fluoride, and their reach across the globe. For instance, in January 2020, Jordan Chemicals Company (a subsidiary of Jordan Phosphate Mines Company (JPMC)) had entered into an agreement with Alufluoride for setting up aluminium fluoride factory in Jordan. Under the agreement, the first phase of the project includes building the factory, worth USD 25 million, in Al Shidiyeh region in Maan and the modernization of the JPMC's aluminum fluoride plant in Aqaba for producing aluminum fluoride. The JPMC would also supply the new factory with 20,000 tonnes of fluosilic acid annually, a secondary product of the extraction of phosphate in the Shidiyeh mines.
In February 2019, Alufluoride Ltd had entered into non-binding Memorandum of Undertakings (MOUs) with Jordan Phosphate Mining Company (JPMC), Jordan for production and marketing of Aluminium Fluoride
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• Visualize the composition of the global aluminum fluoride market products across and application highlighting the critical commercial assets and players.
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**The global aluminum fluoride report will provide access to approximately 53 market data tables, 44 figures, and 178 pages
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