Aluminum Chloride Hexahydrate Market Analysis
Aluminum chloride hexahydrate is one of the main compounds of chlorine and aluminum. It is an odorless white granule which, acts as an antiperspirant that works by affecting the sweat producing cells in the human body. Aluminum chloride hexahydrate is soluble in various solvents such as water, ethanol, propylene glycol, chloroform, and ether. Pharmaceutical and metal processing industries are the major contributors to the market growth of aluminum chloride hexahydrate over the forecast period. Moreover, the compound has various properties such as non-flammability, good electrical conduction, and low melting & boiling points. Additionally, it is used as a catalyst in chemical synthesis for industrial production of aluminum metal. Furthermore, the use of aluminum chloride hexahydrate in water treatment process is also gaining attention. The rapid growth of the pharmaceutical industry and rise in demand for consumer goods are expected to propel the aluminum chloride hexahydrate market over the forecast period.
COVID–19 scenario analysis
The corona outbreak has reduced the global demand for many consumer goods. The demand for products, such as cosmetics and other unessential goods, has reduced drastically. The global lockdown has made the global economy to fall, thus creating financial crisis across various developing countries. This has reduced the buying power of consumers, eventually reducing the demand for various consumer products. This has resulted in decreasing the demand for aluminum chloride hexahydrate across various industries. However, the use of aluminum chloride hexahydrate in the pharmaceutical industry is expected to boost the market growth even during this crisis.
Market scenario analysis
The aluminum chloride hexahydrate market is expected to grow significantly over the forecast period due to rise in demand for the product in the pharmaceutical industry along with the application in industrial production of aluminum metal. Moreover, the use of aluminum chloride hexahydrate as a coagulant in many waste water treatment plant is also expected to increase the demand over the forecast period. Studies reveal that excessive use of aluminum chloride hexahydrate results in skin burning and irritation. Various government restrictions in the production of aluminum chloride hexahydrate due to its hazardous effects on the ecosystem and living organisms on direct exposure are expected to hinder the market growth over the forecast period.
Hyperhidrosis is a dermatological condition, which has huge impact on the life of the effected individual. It causes excessive sweating in human body. Aluminum chloride hexahydrate is used as first-line treatment for patients with mild-to-moderate hyperhidrosis. Moreover, recent research reveals that aluminum chloride hexahydrate is also used in the treatment of breast cancer.
Furthermore, rise in demand for cosmetic products is another important factor, which has been predicted to propel the growth of the aluminum chloride hexahydrate market. The use of aluminum chloride hexahydrate in grooming products, such as cream and lotions, and other cosmetic products is also expected to boost the market size of aluminum chloride hexahydrate over the forecast period.
Asia-Pacific is the global market leader of the aluminum chloride hexahydrate market. India and China are the major contributors to the market growth in the region due to the increase in demand for consumer good in these developing countries. The pharmaceutical industry in China and India is developing at a faster rate. As a result, these two countries are the largest exporters of aluminum chloride hexahydrate. North America holds the second largest market of aluminum chloride hexahydrate due to rise in development activities in the pharmaceutical industry.
Key benefits of the report:
- This study presents the analytical depiction of the aluminum chloride hexahydrate market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the aluminum chloride hexahydrate market share.
- The current market is quantitatively analyzed to highlight the aluminum chloride hexahydrate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the aluminum chloride hexahydrate Market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Aluminum Chloride Hexahydrate Market Report Highlights
Key Market Players
Xinghua Kangda, Nantong Changlong Chemical, Gongyi Huanan, Nantong Mengya, Gongyi Yishuiyuan, Canton, Yuqing Jingshui, Base Metal Group, Jiangsu Tianteng Chemical, Gongyi Longda