LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global anhydrous aluminum chloride market to grow at a CAGR of close to 4% during the period 2018-2022, according to their latest report.
This market research report segments the global anhydrous aluminum chloride market into the following applications, including dyestuff and pigments, flavors and fragrances, hydrocarbon resins, and pharmaceuticals and key regions, including the Americas, APAC, and EMEA.
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In this report, Technavio analysts highlight the growing use of anhydrous aluminum chloride as a catalyst in organic transformation reaction as a key factor contributing to the growth of the market:
Growing use as a catalyst in organic transformation reaction
Anhydrous aluminum chloride properties such as good conductivity, oxidizing property, low melting and boiling point, strong Lewis acid, and solubility in several polar solvents has led to its use as a catalyst in various organic transformation reaction and end-use applications. Anhydrous aluminum chloride is used as an acid catalyst (mainly in Friedel-Craft reactions); as a chemical intermediate for aluminum compounds; as a catalyst for cracking of petroleum; in the manufacturing of lubricants, wood preservatives, and rubber such as styrene; and to manufacture anthraquinone.
According to a senior analyst at Technavio for metals and minerals, “Anhydrous aluminum chloride is used to manufacture titanium dioxide due to it being a good nucleating agent. It is also used in medications, cosmetics, disinfectants, photography, textiles, fabrics, and agrochemicals. The demand for anhydrous aluminum chloride is expected to grow due to its increasing use in several applications and industries during the forecast period.”
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Global anhydrous aluminum chloride market segmentation
Of the four major applications, the dyestuff and pigments segment held the largest market share in 2017, accounting for nearly 28% of the market. The market share for this application is expected to increase by 2022. The fastest growing application is pharmaceuticals, which will account for nearly 15% of the total market share by 2022.
APAC was the leading region for the global anhydrous aluminum chloride market in 2017, accounting for a market share of nearly 40%. By 2022, APAC is expected to continue dominating the market and register the highest growth.
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