Global Aluminum Fluoride Market is segmented By Product Type (Dry, Anhydrous, Wet), By Application (Clinic Centers, Construction, Pharmaceuticals, Aerospace, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
Aluminium Fluoride Market is expected to grow at a CAGR of 4% during the forecast period 2024-2031.
Aluminum Fluoride is the odourless white powder or granules used in the production of aluminium metal and fluoro-aluminate glasses. It allows the aluminium producers for efficient production and ensure a pure end-product. It possesses the electrolytic properties which could be used for producing the aluminium through molten salt baths.
Market Summary
| Metrics | Details |
| Market CAGR | 4% |
| Segments Covered | By Product Type, By Application and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
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, aluminium silicate, fermentation process. The rise in demand of aluminium is going to drive the market in the forecast period. For instance, according to a 2021 survey by IIFT(Indian Institute of Foreign Trades) the demand of aluminium is going to rise as a result of urbanization, housing for all projects, rural electrification, Smart city projects and its various other applications.
The rise in Foreign Direct Investments in construction sector of developing countries is another factor to drive the market. For instance, India eased the rules of FDI in construction sector and for the month of April 2021, India received the highest FDI of $6.24 billion for the month of April. Moreover, the growing government initiatives for the removal of tariffs for steel and aluminum imports especially in developed countries is accelerating 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.
Covid-19 Impact Analysis on Market
The market is highly dependent on pharmaceutical, construction and food industry. The global crisis had unprecedented impact on the activity of these industries due to lockdowns imposed on various economies around the world. However, it is projected that the pandemic will have short-term impact on the aluminium fluoride industry because of the growing demand of aluminium in construction sector of developing countries and automobile industry which is expected to recover quickly in the forecast period.
Market Segmentation Analysis
Global aluminum fluoride market is segmented based on type as dry, anhydrous, and wet Anhydrous segment is projected to have positive growth due to increased usage of Anhydrous aluminum fluoride for the production of aluminium 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.
Market Geographical Share
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. For instance, IMF (International Monetary Fund) has projected a growth rate of 12.5% for India for the year 2021. China was the only major economy to have positive growth rate for the year 2020 and according to the finance institution it is expected to have a growth rate of 8.6 % in 2021. The region also has the largest automotive market, i.e., China both in terms of demand and supply.
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 fuelling the market growth in Western European Countries such as the U.K., Italy, Germany, and France.
Companies and Competitive Analysis
There are numerous 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.
For instance, in 2021, Ningxia Yingfu Jinhe Technology, China based company had filed a patent for a equipment for preparing aluminium fluoride from low concentration fluorine containing waste-water. The equipment can not only help recycle the fluorine element in the low concentration fluorine-containing waste water, but can also recover minute aluminium fluoride particulate matter that is produced in the aluminium fluoride production process which effectively reduce the production cost of the aluminium fluoride.
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
Why Purchase the Report?
- Visualize the composition of the global aluminum fluoride market products across and application highlighting the critical commercial assets and players.
- Identify commercial opportunities in the global aluminum fluoride market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of global aluminum fluoride market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
- Distributors
- Supply chain companies
