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Market Overview:
The Aluminum Chloride Hexahydrate Market size is estimated to reach $508 million by 2030, growing at a CAGR of 4.1% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Aluminum Chloride Hexahydrate Market – By Grade (Pharmaceutical Grade, Reagent Grade, Technical Grade and Others), By Purity (Below 99%, 99% and Above 99%), By Form (Granules, Powder and Others), By Application (Pharmaceuticals and Cosmetics, Water and Wastewater Treatment, Metal casting, Chemical and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Innovations and rising environmental regulations are fueling the growth of the Aluminum Chloride Hexahydrate industry during the forecast period.
APAC Dominated the Market in 2023:
In 2023, the Asia-Pacific region emerged as the largest market for Aluminum Chloride Hexahydrate, holding a significant 32% share. This growth can be attributed to a thriving industrial landscape, particularly in the pharmaceutical, cosmetics, chemical, and metal casting sectors. Major economies such as China, India, Japan, and Australia are experiencing rapid industrial output growth. For instance, the Indian chemical sector is projected to escalate from a valuation of US$ 220 billion in 2022 to US$ 300 billion by 2025, eventually reaching US$ 1 trillion by 2040. This industrial expansion not only fuels demand for Aluminum Chloride Hexahydrate but also positions the region as a key player in the global market.
Aluminum Chloride Hexahydrate Market: Key Takeaways
Surge in the Use of Skincare Products:
The growing demand for skincare products is significantly influencing the Aluminum Chloride Hexahydrate market, primarily due to its application in antiperspirants and deodorants. This compound is recognized for its effectiveness in blocking sweat production by obstructing sweat gland ducts. It is suitable for various body areas, including armpits, soles of feet, and palms. The rising awareness regarding skincare and personal hygiene has led to increased consumption of related products. According to The Cosmetic, Toiletry and Perfumery Association, the beauty and toiletries sector saw a remarkable 9.7% growth in 2023, reaching a market value of US$ 11.8 billion. This trend highlights the pivotal role of Aluminum Chloride Hexahydrate in catering to evolving consumer preferences in skincare.
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Growth in Chemical Production Volume:
The surge in chemical production is playing a crucial role in boosting the Aluminum Chloride Hexahydrate market. As industries such as food, personal care, and home care demand specialty chemicals, the overall production levels are rising. Aluminum Chloride Hexahydrate serves as an essential chemical intermediate in various applications. According to the European Chemical Industry Council, global chemical sales reached a staggering US$ 5,722.2 billion in 2022. The increase in chemical production is likely to generate more wastewater, thereby enhancing the need for Aluminum Chloride Hexahydrate in treatment processes. This correlation between chemical output and market demand underscores the compound’s significance in industrial applications and its contribution to the Aluminum Chloride Hexahydrate market's growth.
Scope of the Report:
Aluminum Chloride Hexahydrate Market: Competitive Landscape
Key companies profiled in the Aluminum Chloride Hexahydrate Market are Base Metal Group, American Elements, VWR International, LLC, IRO Group, Inc., Honeywell International, Inc., Tianjin Flourish Chemical Co. Ltd., Wuxi Lansen Chemicals Co. Ltd., Gulbrandsen, Gujarat Alkalies & Chemicals Ltd, Anmol Chloro Chem and others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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