[FURL=https://www.industryarc.com/Report/15285/aluminum-chloride-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Aluminium Chloride Market[/FURL] size is forecast to reach $1.5 billion by 2026, after growing at a CAGR of 4.7% during 2021-2026. The demand for aluminium chloride is powered by diverse applications of the product. In wastewater treatment systems, its use as a sludge dewatering agent has helped to proliferate demand. In particular, the use of low-cost aluminium chloride coagulants in domestic wastewater treatment has increased its popularity in the market for aluminium chloride. The demand has been boosted by increased research on the use of aluminium chloride as a coagulant in developing countries is also driving the market growth during the forecast period.Impact of Covid-19
Due to the lockdown and various other issues regarding production, the demand of aluminium chloride in its application has reduced drastically, which tends to reduce the consumption of aluminium chloride, and thus constraining the growth of the market in the forecast period.
Key Takeaways
Development in the chemical processing sector and the cosmetics industry will provide ample opportunities to expand over the projected period for the aluminium chloride market.
Asia-Pacific dominated the worldwide market with the biggest consumption from countries such as China and India.
The demand for the aluminium chloride industry in the United States is projected to rise during the forecast period due to well-established pharmaceutical industries and heavy government spending on health care. In 2018, U.S. health care spending increased by 4.6%, reaching $3.6 trillion.
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Aluminium Chloride Market Drivers
Growing demand from pharmaceuticals industry
Aluminium chloride is an intermediate in manufacture of various pharmaceuticals including Ibuprofen (analgesic) and is used for treating pain, fever and inflammation. The number of obese persons has risen by shifting diets and unhealthy eating patterns, which in turn has increased the use of aluminium chloride in the pharmaceutical industry. The growth of the aluminium chloride industry is motivated by growing health issues among citizens in the United States and increasing pharmaceutical spending. U.S. health care expenditure rose 4.6 percent in 2018, hitting $3.6 trillion or $11,172 per person, according to National Health Expenditure Reports (NHEA). Continuous investment in the pharmaceutical industry is also expected to support the growth of the demand for aluminium chloride.
Aluminium Chloride Market top 10 companies are GFS Chemicals, Gulbrandsen, Cellmark AB, Skyhawk Chemicals, Southern Ionics, Tokyo Kasei Kogyo Co. Ltd., Kemira kemi AB, GEO Specialty Chemicals, Inc., Noah Technologies Corporation., and among others.
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