[FURL=https://www.industryarc.com/Report/15335/aluminum-sulfide-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Aluminum sulfide market[/FURL] size is forecast to reach $4.30 billion by 2025, after growing at a CAGR of 5% during 2020-2025, owing to the wide usage of Aluminum Sulfide in water treatment industries. The need for clean and potable drinking water across the globe is driving the demand for aluminum sulfide. The companies are adopting various strategies and investing heavily in R&D to develop technical advancement in the products. However, the pandemic has turned to be the biggest challenge for the market.Key Takeaways
Asia Pacific region dominates fastest growth rate and accounted for xx% of the aluminum sulfide market owing to the high demand in water and wastewater treatment.
Many Original Equipment Manufacturers (OEMs) in the water treatment industry are constantly challenged to developing new technologies, business models and engineering processes to fulfill the exponentially growing demand.
The other key areas of focus include the various applications and end use industry in Aluminum Sulfide market and their specific segmented revenue.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
Due to the COVID-19 pandemic, most of the countries have gone under lockdown, due to which operations of various industries has been negatively affected, which is hampering the aluminum sulfide market growth.
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Aluminum Sulfide Market Drivers
Economies looking for water treatment technologies
The companies are adopting various growth strategies and investing in R&D extensively to develop technically advanced unique products. The increase in demand is leading towards the new growth. With the world’s population expected to rise from 3 billion to 9 billion by 2050 and continuous industrial growth across the globe, water has become a critical global resource.
Growth of paper industries
Paper use increases year on year and has quadrupled over the past 50 years. The world production for paper and paper board is around 390 tons and is expected to reach 490 tons in the year 2020. Paper & pulp is one of the largest growing industries of the world. India and China are expected to be the key players in the industry.
The emergence of COVID-19 pandemic
The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. According to International Monetary Fund, the global GDP is expected to decline by 3% in 2020.
Aluminum sulfide market top companies are BASF, Arkema SA, AkzoNobel, BuckMan Laboratories, Sigma Aldrich, Usalco
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