Anhydrous Aluminum Chloride Market is expected to reach US$912.25 mn by the end of 2024
Browse Market Research Report: http://www.transparencymarketresearch.com/anhydrous-aluminum-chloride-market.html
As stated in a research report released by Transparency Market Research, the overall degree of competition within the global anhydrous aluminum chloride market is expected to remain very high over the coming years. The market does possess a considerable number of players that are already established at a global and/or regional level. However, the entry barriers for new players are low due to the low capital needed to setup in the market. However, the increasingly strict regulations surrounding the global anhydrous aluminum chloride market are creating a visible obstruction in the growth rate of these new entrants. By revenue, the global anhydrous aluminum chloride market is expected to reach US$912.25 mn by the end of 2024. It is expected to expand at a CAGR of 2.9% from 2016 to 2024 and is also expected to reach US$704.27 mn by the end of 2016.
APAC Presents Multiple Advantages in Global Anhydrous Aluminum Chloride Market
“The nations from the currently high-interest Asia Pacific region are currently the leading reason for the growth of the anhydrous aluminum chloride market as a whole. The manufacturing of dyestuff and pigments has shot up in this region, owing to the booming industries of apparels, construction, and automotive. Their proliferation is directly benefitting the players in the global anhydrous aluminum chloride market and a lot of these names from North America and Europe are looking to take up a share of the expanding Asia Pacific market. The nations of China and India are further showing a phenomenal expansion in their pharmaceutical industries, creating an even greater demand for anhydrous aluminum chloride over the coming years,” states a TMR analyst.
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The above factors are perceived as growth enablers for the demand of anhydrous aluminum chloride on a global scale, but are applicable to a much higher degree within the Asia Pacific region. Due to several factors, the demand for anhydrous aluminum chloride is quite lower in Europe and The Middle East and Africa as compared to Asia Pacific and North America.
Health Hazards Primary Obstacle for Anhydrous Aluminum Chloride Manufacturers
While the utility of anhydrous aluminum chloride is unquestioned, its negative effects on humans as well as the environment are also equally concerning. Ingestion or inhalation anhydrous aluminum chloride can be toxic to humans due to its irritating nature. Several cases of skin burns are known to occur on workers handling anhydrous aluminum chloride in manufacturing centers and their safety is expected to be a primary concern to the market’s players. Another complication arises when anhydrous aluminum chloride reacts with water to give off hydrogen chloride, a particularly strong colorless gas that can cause severe irritation to skin or form hydrochloric acid upon contact with moisture.
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“Players in the global anhydrous aluminum chloride market to be extremely aware of the safety standards that they are performing in and meeting all regulatory standards set out by their region of operation. Amidst the growing demand for anhydrous aluminum chloride, all players are showing a very high rate of interest in Asia Pacific, where they are expected to gain significant opportunities overt the coming years,” adds the analyst.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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