Aluminum Fluoride Market Overview
Aluminum Fluoride Market Size was valued at USD 1.9 Billion in 2022. The Aluminum Fluoride market industry is projected to grow from USD 2.1 Billion in 2023 to USD 2.9 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.00% during the forecast period (2023 - 2030).
The latest research report from Market Research Future (MRFR) profiles the global aluminum fluoride market size and provides a detailed overview of the market’s likely growth trajectory over the forecast period till 2030. The major drivers and restraints affecting the global aluminum fluoride market are profiled in detail in the report to provide readers a clear overview of what is affecting the market most significantly. The leading factors affecting the market positively as well as negatively are profiled in the report, providing readers a clear view of the market’s movement. Major players operating in the global aluminum fluoride market are also profiled in the report.
The growing demand for aluminum fluoride in the construction industry is likely to be a major driver for the global aluminum fluoride market. The impermeability and corrosion resistance offered by aluminum fluoride make it perfect for use in construction applications, which has led to its widespread usage in the same. It is also widely used in glass etching and polishing, stainless steel pickling, and preparations of semiconductors. The ceramic industry is also likely to be a major driver for the aluminum fluoride market over the forecast period, as aluminum fluoride is widely used in the ceramic industry in the production of special refractory products. Aluminum fluoride is also used in welding agents, optical materials, oil refining, and spectroscopic components. On the other hand, aluminum fluoride has carcinogenic properties, which render it unsafe for use in applications involving extended human contact. It is also not environmentally viable, making it prone to environmental regulations brought about by governments all over the world.
Aluminum fluoride, represented by the formula AlF3.xH2O, is an inorganic compound occurring in several forms of hydrates, including monohydrates, trihydrates, hexahydrates, and nonahydrates. Aluminum fluoride is a major intermediate in the production of aluminum and is produced by reacting alumina with hydrogen fluoride at 700 degrees centigrade. It can also be produced from fluorosilicic acid and through the thermal decomposition of ammonium hexafluoroaluminate. It is also found in nature in the form of a rare mineral called rosenbergite and an anhydrous mineral called oskarssonite. It is a colorless solid and presents beneficial properties such as extended IR transmittance, low refractive index, low dispersion, and radiation resistance.
Aluminum Fluoride Market Segmentation:
The global aluminum fluoride market is segmented on the basis of type, application, and region.
By type, the global aluminum fluoride market is segmented into dry, anhydrous, and wet.
By application, the market is segmented into automotive, construction, pharmaceuticals, aerospace, and others. The construction segment holds the largest share in the global aluminum fluoride market, accounting for a 30% share in the market in 2016. Construction applications are likely to be a major driver for the global aluminum fluoride market due to the growing scope of the construction industry.
Regional Analysis:
By region, the global aluminum fluoride market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Asia Pacific holds the largest share in the global aluminum fluoride market. The growing construction industry in Asia Pacific is likely to be a major driver for the global aluminum fluoride market over the forecast period. Rising urbanization in countries such as India and China is likely to be a major driver for the global aluminum fluoride market over the forecast period, as this is likely to drive the construction of various buildings in the region over the coming years. The growing production of low-index optical thin film in Asia Pacific is also likely to be a major driver for the Asia Pacific aluminum fluoride market.
Aluminum Fluoride Market Competitive Leaderboard:
Leading players in the global aluminum fluoride market include PhosAgro, Mexichem SAB de CV, Alfa Aesar, DuPont, Gulf Fluor, Rio Tinto Alcan Inc., Qingzhou Hongyuan Chemical Co. Ltd., Fluorsid SpA, Hunan Nonferrous Metals Corporation Limited, and Do-Fluoride Chemicals Co. Ltd. Major players in the global aluminum fluoride market are likely to focus on product capacity expansion in the coming years, as the demand for aluminum fluoride is likely to grow from various applications over the forecast period.
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