Aluminum fluoride is an inorganic compound widely used in applications such as automotive, construction, pharmaceuticals and many more. In automotive industry, aluminum fluoride is used in anti-corrosion coatings for vehicle bodies and underbodies. It provides excellent protection against corrosion when applied to aluminum and steel surfaces. The global aluminum fluoride market exhibited substantial growth over the past years, owing to rising demand from various end-use industries.
The global aluminum fluoride Market is estimated to be valued at US$ 2.03 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising Demand from Automotive Industry: One of the major factors driving the growth of the market is increasing demand for aluminum fluoride from automotive industry. Aluminum fluoride acts as an excellent corrosion inhibitor when used in anti-corrosion coatings of vehicle bodies and underbodies. It protects the surfaces from corrosion caused by rain, snow, dirt and other environmental factors. Growing automotive production across the globe is fueling the demand for anti-corrosion coatings made using aluminum fluoride.
Fluoridation of Water: Another significant factor augmenting the market growth is increasing use of aluminum fluoride for fluoridation of drinking water. Various health organizations recommend controlled fluoridation of public water supplies to prevent tooth decay. Aluminum fluoride is widely used as the fluoridating agent in water treatment plants due its solubility and stability. Rising global initiatives towards oral healthcare are propelling the adoption of aluminum fluoride in water fluoridation processes.
Segment Analysis
The global aluminum fluoride market is segmented based on type, application, end use industry and region. Based on type, anhydrous aluminum fluoride segment dominates the market and accounts for over 60% market share. Anhydrous aluminum fluoride has wide applications in aluminum production as a fluxing agent. It enables smooth casting of aluminum and improves surface finish and mechanical properties of final products.
PEST Analysis
Political: Trade policies like import duty regulations impact raw material supply and prices. Stringent environmental norms in some nations affect production facilities.
Economic: Market is driven by growth in end use industries like aluminum production, oil & gas and pharmaceuticals. Volatility in commodity prices and global economic conditions influence demand.
Social: Rising health awareness increases demand for oral care and cosmetic products containing aluminum fluoride.
Technological: Developments in casting and smelting technologies help aluminum fluoride players improve production efficiencies. New applications in energy and medical industries present new opportunities.
Key Takeaways
The global Aluminum Fluoride Market Growth is expected to witness high growth at a CAGR of 10% during the forecast period of 2023 to 2030. The market size for 2023 is projected to reach US$ 2.03 Billion.
Regional analysis: North America dominates the global market with over 40% share backed by strong demand from aluminum and pharmaceutical industries in the region. Asia Pacific is the fastest growing market on account of expanding manufacturing base in major economies like China and India.
Key players operating in the aluminum fluoride market are INKIA, Martha Tilaar Group, Wipro Unza, Clara International, Ivy Beauty Corporation, Sdn Bhd Overview, Paragon Technology & Innovation, and Brataco Group of Companies. Key players are investing in capacity expansions to cater to growing aluminum and healthcare sectors. Players also focus on developing branded oral care and cosmetic products using aluminum fluoride.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.