Aluminum fluoride having excellent properties of lowering melting point and increasing conductivity of aluminum solution, gained traction across diverse sectors such as automotive, construction, and other industrial sectors in the past years.
Recovery in the automotive industry and demand for metallurgical grade to augment the growth of aluminum fluoride market suppliers evaluates the market study by Future Market Insights. According to the report, apart from a minor setback in 2020, the market is expected to have a positive outlook through 2021 and beyond.
Rising demand for a metallurgical grade in industrial and commercial sectors to propel the aluminum fluoride growth through 2031. Properties such as low melting point, and high efficiency in solution conductivity are increasing the usage of metallurgical grade in the automotive and construction industry.
Although, disadvantages like high-cost laboratory set-ups, lack of professional handling, and risk of hazards are likely to cause a challenge for aluminum fluoride manufacturers. Despite these restraints, numerous automotive and construction projects in the upcoming years are expected to overcome the challenges and provide future expansion prospects for manufacturers.
For instance, according to the U.S. Auto Industry and EU car sales report, sales for light vehicles were recorded to total US$ 17.2 million in 2018 and are expected to increase by 10% in the upcoming years. These numbers indicate the surging demand for aluminum fluoride among suppliers and manufacturers.
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“High investment in research and development activities in automotive industry and high demand of metallurgical grade among suppliers is expected to boost the market demand,” remarks the FMI analyst.
Key Takeaways
Prominent Drivers
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Key Restraints
Competitive Landscape
Aluminum fluoride suppliers profiled by FMI include Alufluoride Ltd., Rio Tinto PLC., Tanfac Industries Ltd., Fluorsid S.p.A, Mexichem S.A.B. de C.V., Industries Chimiques du Fluor, PhosAgro PJSC, Do-Fluoride Chemicals Co. Ltd., Pingquan Greatwall Chemical Co. Ltd., Gulf Fluor, AB Lifosa, and Alufluor AB among some others. According to the study, the market seems to be highly competitive. Leading players are launching diverse products to maintain their position in the industry.
In December 2020, AluFluoride Ltd., announced the completion of its expansion of a new Aluminum Fluoride plant to increase the production capacity by 2.68%.
Likewise, in 2020, Aluminium Bahrain B.S.C (ALBA) signed a long-term agreement with an Italian leading producer of fluorochemicals, Fluorsid which made it the world’s largest smelter with the production of 1.5 million metric tons.
More Insights on FMI’s Aluminum Fluoride Market
In its latest report, Future Market Insights offers a detailed segmentation of the global aluminum fluoride market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
To gain a better understanding of the global market potential, its competitive landscape, drivers, restraints, and opportunities, the market is segmented based on grade (metallurgical grade, and another industrial grade), application (aluminum, fluorocarbons, ceramics, and chemical intermediate), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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Frequently Asked Questions
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Fluoride Materials Market: Fluorine is a chemical compound having high reactivity. It reacts with salt to form a fluoride compound. Fluoride compounds are abundant in the earth’s crust and naturally found in soils and rocks.
Barium Fluoride Market: Barium Fluoride is chemically termed BaF2 with the chemical composition of barium and fluoride. Barium fluoride is a salt and water-insoluble barium source that is used in oxygen-sensitive applications including metal production.
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Apr 17, 2023