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In 2022, the global market size for anhydrous aluminum chloride reached USD 948.20 million and is poised to experience a 5.30% revenue CAGR during the forecast period. The surge in demand within petrochemical industries propels market growth as anhydrous aluminum chloride finds extensive application in critical processes such as Fluid Catalytic Cracking (FCC), alkylation, and hydrocarbon upgrading during petrochemical refining. This material facilitates eco-friendly and efficient synthesis routes, eliminating the need for hazardous catalysts. Notably, major players in the petrochemical refining sector are increasingly adopting sustainable raw materials to align with Environmental, Social, and Governance (ESG) practices.
The International Energy Agency (IEA) reports that the oil and gas industry contributes 15.1% to global energy-related emissions, equating to 5.2 billion tonnes of greenhouse gas emissions. In response, petrochemical companies are collaboratively committing to achieving net-zero emissions by 2030, driving a heightened demand for anhydrous aluminum chloride.
Petrochemical Industry Initiatives: Collaborative efforts within the petrochemical sector to reduce emissions by 60.1% from oil and gas operations by 2030 are anticipated to boost the demand for anhydrous aluminum chloride.
Wastewater Treatment: Increasing use in wastewater treatments due to its coagulant and flocculant properties, aligning with the United Nations' target 6.30 to improve water quality by 2030.
Consumer Personal Care Products: Growing adoption in the manufacturing of personal care products, particularly antiperspirants, driving market revenue.
High Capital Expenditure: The substantial capital required for manufacturing anhydrous aluminum chloride, involving the setup of new facilities and expensive machinery, acts as a significant constraint to market revenue growth.
Supply Chain Instability: The instability in the supply chain of raw materials, characterized by price fluctuations and shortages, is expected to restrain market growth during the forecast period.
Powder Segment Dominance: In 2022, the powder segment held the largest revenue share. Powdered forms offer longer shelf lives compared to liquid counterparts, contributing to reduced waste and the need for replacement. Additionally, powdered forms are adaptable for various industries, including chemical, petrochemical, and pharmaceutical.
Chemical Synthesis Segment Growth: The chemical synthesis segment is projected to witness the fastest revenue growth. Anhydrous aluminum chloride's use in cost-effective chemical synthesis processes is gaining traction, particularly in gas mixtures for various applications.
Asia Pacific:
Market Leader: In 2022, the Asia Pacific region accounted for the largest revenue share, attributed to steady procurements in manufacturing and petrochemicals. Government initiatives, such as Make in India, have stimulated manufacturing capacity expansion, attracting industries to shift facilities to avail trade benefits.
North America:
Fastest Growth Rate: The North America market is anticipated to register the fastest revenue growth rate. Rapid economic growth, industrial development, and significant procurement of anhydrous aluminum chloride in chemical synthesis processes contribute to market growth.
Europe:
Steady Growth Rate: The European market is expected to witness steady revenue growth due to rising demand for anhydrous aluminum chloride in oil production, refining processes, and its role as an eco-friendly alternative in petrochemical industries.
The global market is fragmented, with key players such as BASF SE, Merck KGaA, Thermo Fisher Scientific Inc., Spectrum Laboratory Products, Inc., and others driving market revenue through strategies like mergers & acquisitions and new product introductions.
On January 19, 2021, DCM Shriram Ltd. invested USD 13.44 million in expanding its anhydrous aluminum chloride plant in Gujarat, India, aiming to introduce new products and enhance existing offerings to meet rising industry demands.
Market Size (2022): USD 948.20 Million
CAGR (2023-2032): 5.30%
Revenue Forecast (2032): USD 1,596.1 Million
Segments Covered: Form, Packaging, Application, End-Use, Region
Regional Scope: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Key Companies: BASF SE, Merck KGaA, Thermo Fisher Scientific Inc., Spectrum Laboratory Products, Inc., and others.
In 2022, the global market size for anhydrous aluminum chloride reached USD 948.20 million.
The global market is projected to grow at a CAGR of 5.30% during the forecast period, 2023-2032.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65436
Published on :
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