The aluminum fluoride market is estimated to be valued at US$ 2.3 Bn in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Aluminum fluoride is primarily used as a flux in aluminum production. It lowers the melting point of alumina and helps in separation of aluminum from impurities. Aluminum fluoride also finds application as a fluoride source in dental care products and as a hydrofluoric acid catalyst.

Market Dynamics:

The growth of the aluminum fluoride market is driven by increasing demand from the aluminum production industries. Aluminum fluoride plays a vital role in aluminum smelting process as it lowers the melting point of alumina and facilitates extraction of pure molten aluminum. According to International Aluminium Institute, global aluminium demand is projected to grow at an average rate of 3.5% annually between 2020 and 2027 owing to increasing use of aluminum in automotive, construction and packaging industries. Growing demand from end-use industries is expected to propel the growth of aluminum production which in turn will boost the demand for aluminum fluoride over the forecast period. The market is also expected to witness growth due to increasing utilization of aluminum fluoride in dental care products. Rising health awareness and growing geriatric population fuels the demand for oral care products incorporating aluminum fluoride as a major ingredient.

SWOT Analysis

Strength: Aluminum fluoride is used in various industries like aluminum production, glass and ceramics, chemicals and others as fluxing agent which helps in improving their properties. It has wide applications in water treatment for defluoridation. Production of aluminum fluoride requires readily available raw materials like fluorspar and alumina which ensures consistent supply.

Weakness:Aluminum fluoride is a hazardous substance and exposure to it can cause health issues like asthma, bronchitis if safety measures are not followed during production and handling. Transportation of aluminum fluoride requires special packaging due to its hazardous nature which increases logistics cost.

Opportunity: Increasing aluminum production driven by growth in automotive, aerospace and construction sectors is creating demand for fluxing agents like aluminum fluoride. Rising demand for certified drinking water in developing regions provides scope for expansion of defluoridation plants using aluminum fluoride.

Threats: Stringent environmental regulations pertaining to emissions from aluminum fluoride production plants increase compliance costs. Dependency on China for raw material supply exerts pricing pressure.

Key Takeaways

The Global Aluminum Fluoride Market Size is expected to witness high growth, exhibiting CAGR of 2.7% over the forecast period, due to increasing demand from aluminum production and water treatment industries.

Regional analysis: Asia Pacific currently dominates the global market owing to presence of large aluminum producing countries like China. China accounts for over 50% of global aluminum fluoride production. North America and Europe are other major markets driven by stringent drinking water standards.

Key players: Key players operating in the aluminum fluoride market are Alufluoride Ltd., Rio Tinto Plc, Tanfac Industries Ltd., Fluosid S.p.A, Mexichem S.A.B. de C.V., Industries Chimiques du Fluor (ICF), PhosAgro PJSC, Do-Fluoride Chemicals Co., Ltd, Pingquan Greatwall Chemical Co., Ltd., Gulf Fluor, AB Lifosa, Alufluor AB, Derivados del Fluor. These players are focused on capacity expansion and backward integration to gain cost leadership.

Get More Insights Here

https://www.trendingwebwire.com/aluminum-fluoride-market-share-size-forecast-outlook-2023-2030/