Gold Chloride Market To Make Great Impact In Near Future by 2025
The global market for gold chloride is growing at a substantial pace, thanks to the rising number of applications across diverse industries. Gold chloride, also known by the name of auric chloride is considered as one of the most common gold compounds, which is available extensively for diverse industrial applications. The prominent players operating in the global gold chloride market are emphasizing on the expansion of the product portfolio in order to enhance its application base, thus encouraging the growth of the overall market in the next few years.
The developed economies, across the globe, are anticipated to witness promising growth throughout the forecast period. The presence of leading players and the increasing consumption of gold chloride are the key factors expected to fuel the development of the gold chloride market in regions such as North America and Europe. On the other hand, the rapid rate of industrialization in emerging economies is likely to produce promising opportunities for the market players. The increasing use of gold chloride in cosmetics and medical sectors is expected to accelerate the growth of the market in the near future.
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Furthermore, the rising level of competition, owing to the expected entry of new players in the global gold chloride market is considered to offer lucrative opportunities in the next few years. In addition, the rising use of gold chloride in nanotechnology, industrial catalyst, medicines, and electronics is expected to augment the global gold chloride market in the coming years. As per these factors, the market is estimated to register a strong growth in the near future.
Global Gold Chloride Market: Overview
Gold chloride, conventionally called auric chloride, is a group of chloride salts of gold. One of the most common compounds of gold available for industrial applications, gold chloride is extensively used as the starting point for the synthesis of a number of other gold compounds. Its potential use as a mild acid catalyst for applications such as the conversion of furans to phenols and alkylation of aromatics has attracted attention from organic chemists worldwide.
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This report on the global gold chloride market presents a detailed overview of the present state of the market and its segment, with verifiable projections regarding the future growth prospects of the market, on global as well as regional levels. The study includes detailed overview of the key factors expected to have a notable influence on the overall development of the market over the period between 2017 and 2025. Factors such as growth drivers, challenges, past and present trends, opportunities, regulatory reforms, and competitive landscape are analyzed in great details. Detailed business profiles of some of the market’s notable players are also included in the report.
Global Gold Chloride Market: Trends and Opportunities
The vast rise in the medical applications of gold chloride is expected to have a vast impact on the overall development of the market over the report’s forecast period. The increased usage of the compound for applications such as purification of gold, and use in industries such as nanotechnology, personal care and cosmetics, medicines, industrial catalysts, and electronics are expected to lead to an encouraging rise in the global demand for gold chloride in the next few years.
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However, issues surrounding the consistent supply of gold chloride are expected to hamper the overall growth prospects of the market to a certain extent. Nevertheless, advances in nanotechnology are expected to lead to the development of a variety of gold chloride nanoparticles for use across a myriad of applications. These developments are expected to provide immense growth opportunities for players in the market.
Global Gold Chloride Market: Geographical and Competitive Dynamics
North America and Europe presently hold the dominant share in the global gold chloride market. North America held the largest share in global gold chloride market in terms of consumption. Developed markets across these regions are progressively recovering from sluggish economic condition and expenditure on medical and pharmaceutical procedures and the chemicals industry are constantly rising. As a result, the demand for gold chloride is expected to grow at an encouraging pace in the next few years.
Europe followed North America in terms of consumption and is expected to grow at moderate pace during the next few years. Asia Pacific held the small share in the global gold chloride market; however it is expected to be the fastest growing market in the next few years. In terms of production, Asia Pacific was the largest market and with expected capacity additions in China, the trend is expected to remain equally strong over the next few years.
The increased demand for cosmetics and medicines from middle class population in developing countries in Asia Pacific is expected to lead to a conducive growth environment for the gold chloride market. Furthermore, rapid economic development and increased disposable income of the citizens in developing countries of Asia Pacific is expected to lead to an increased consumption of the compound in the near future. The encouraging growth of the industrial sector in China is expected to increase in demand for gold chloride across a number of industrial applications.
Some of the key vendors operating in the global gold chloride market are AngloGold Ashanti, Goldcorp, Freeport McMoRan Copper & Gold Inc., Gold Fields Limited, China Gold International Resources Corp. Ltd., Barrick Gold, Newcrest Mining Limited, Newmont Mining Corporation, New Gold Inc., and Harmony Gold Mining Company Limited.
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