Global High Purity Aluminum Sulfate Market - 2022-2029
発行: DataM Intelligence
ページ情報: 英文 180 Pages
The global high purity aluminum sulfate market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Aluminum sulfate is a salt with the chemical formula Al2(SO4)3. Aluminum sulfate mostly occurs in an anhydrous form in nature. It is generally prepared from bauxite ore, where it is calcinated, mixed with sulfuric acid and water and heated to high temperatures. The resulting exothermic reaction yields aluminum sulfate. The major applications of aluminum sulfate are as a water treatment agent and as a mordant in the textile industry. High purity aluminum sulfate is also used as an additive in lithium-ion batteries and other electronic components.
The rising demands mainly drive the demand for high purity aluminum sulfates as a water treatment agent and the rising adoption of electric batteries, an additive in lithium-ion batteries. The availability of advanced purification techniques and the high cost of lithium-ion batteries is a challenge for the growth of this market.
Increasing demand for water treatment agents
The rising global population has led to increasing demand for clean water. The demand is more acute in emerging countries, mainly due to poor social and economic indicators. The UN declared the right to water and sanitation a fundamental human right in 2010. However, more than 800 million people globally lack access to clean water. Furthermore, the World Health Organization (WHO) estimates that more than 3.7 million people die every year due to the effects of contaminated water.
Aluminum sulfate is commonly known as alum and is used as a water purification agent. It performs the role of a coagulating agent. The suspended impurities in water coagulate into larger particles and settle at the bottom. Aluminum sulfate is cheap and is readily available in industrial quantities; this makes it the preferred water treatment agent globally. Water treatment is the largest application for aluminum sulfate and is the main driver for this market.
Rising demand for lithium-ion batteries.
The strong economic growth of recent decades has created a large global middle class with significant disposable income. The growth in the middle class is fueling rising demand for consumer electronics such as laptops, smartphones, and smart televisions. The demand is especially strong in emerging markets, which coincides with increasing digital penetration. Lithium-ion batteries are used to power most portable consumer electronics such as laptops and smartphones.
The increasing adoption of electric vehicles is witnessing a significant boost, particularly in lagging markets such as South America, the Middle East and Africa. Recent advances in electric battery technology, government subsidies, and reduced costs due to economics of scale are factors that incentivize automotive companies to shift production to electric vehicles. Consumers are attracted by the lower running and maintenance costs. Such factors will accelerate the switch from conventional vehicles to electric vehicles in the medium and long term. High purity aluminum sulfate is an important additive to the lithium-ion battery, and the rising demand for lithium-ion batteries will be a key driver for the market.
Increasing use of advanced water purification techniques
Aluminum sulfate is used as a coagulating agent that coagulates sedimentary particles into large clumps and settles them at the bottom. It is a cheap and cost-effective water treatment method. However, aluminum sulfate cannot purify any kind of dissolved substances and harmful bacteria.
Ultrafine filters, reverse osmosis and UV ray treatments are some of the advanced water purification techniques that are gaining prominence. The increasing use of these advanced techniques is driving down their cost and increasing their popularity and hence, the use of aluminum sulfate is being phased out gradually. It represents a key challenge for the growth of the high purity aluminum sulfate market.
High cost of lithium-ion batteries
Electric vehicles are expensive, primarily due to the high cost of the lithium-ion battery pack, which is an integral part of the vehicle. Lithium extraction and refinement utilize advanced processes to obtain the metal's purest form. Lithium-ion batteries also require the use of rare-earth elements such as Neodymium and Praseodymium, which further drives up the cost of the battery pack.
The high costs of the battery pack drive up the price of electric vehicles. A mid-sized electric sedan is at least 3 to 4 times more expensive than a similar-sized conventional sedan. The high price limits EVs to the premium segment of the market and prevents the wider adoption by low and middle-income consumers. The high cost of electric vehicles presents a major challenge for the growth of the global high purity aluminum sulfate market.
COVID-19 impact analysis
The global chemical industry experienced uneven impacts on value chains in production and sales in 2021 due to the COVID-19 pandemic. Production of aluminum sulfate was affected due to the initial lockdown imposed by global governments to curb the spread of the pandemic. Demand remained nearly constant, as water treatment being an essential service was running uninterrupted, even during the worst phases of the pandemic. Demand from battery manufacturers decreased due to lockdown issues affecting manufacturing.
The short-term impact of the COVID-19 pandemic has been relatively mild for the industry. Major end-user companies have cut operating expenses and capital expenditure in response to the pandemic. The pandemic will have a negligible impact on the medium to long-term growth of the global high purity aluminum sulfate market since companies are expected to gradually ramp up demand as economic activity returns to pre-pandemic levels. The demand for high purity aluminum sulfate remains strong and is expected to grow gradually in the coming years.
The global high purity aluminum sulfates market is segmented into form, grade, industry and region. The high purity aluminum sulfates market is segmented into water treatment, lithium-ion battery, electronic chemicals, reagents and others based on application. Water treatment dominates this segment since it is the single largest user of high purity aluminum sulfate. Aluminum sulfate is commonly known as alum and is used as a water purification agent. It performs the role of a coagulating agent. The suspended impurities in water coagulate into larger particles and settle at the bottom. Aluminum sulfate is cheap and is readily available in industrial quantities; this makes it the preferred water treatment agent globally.
Asia-Pacific is leading in the global high purity aluminum sulfates market. The region accounts for the largest market share, primarily due to major emerging markets such as China, India, Malaysia, Indonesia and developed markets such as Taiwan, Japan and South Korea. Some of the largest high purity aluminum sulfate producers and consumers are located in this region.
India and China are the two most populous countries globally. Both countries have a combined population of 2.8 million and account for 40% of the global population. The large market size makes them the highest consumers of aluminum sulfate. China is also one of the largest exporters of aluminum sulfate globally.
China as it is the biggest electric vehicle producer globally. China produced about 4.6 million vehicles from 2010-to 2021 and accounted for 44% of the electric vehicles sold during the same period. China is also a major producer of consumer electronics High purity aluminum is mainly used as an additive in the lithium-ion battery. The Asia-Pacific will continue to have the largest market share in the high purity aluminum sulfate market.
The global high purity aluminum sulfates market is competitive due to the availability of a wide variety of high purity aluminum sulfate products available from different companies. Some of the major players contributing to the growth in the segment are Chemtrade Logistics, Nippon Light Metal Co. Ltd, Merck KGaA, Holland Company, Feralco AB, Nankai Chemical Co. Ltd, PQ Corporation, Thatcher Group, GAC Chemical Corporation, Hengyang Jianheng Industry Development Co. Ltd. The significant players adopt several growth strategies such as new product launches, joint ventures and collaborations, contributing to global growth in the industry.
Overview: Chemtrade Logistics is a chemical manufacturer with more than 60 locations in North America and globally. The company's main business segments are sulphur products, performance chemicals and water treatment chemicals. The company was founded in 2001 and is headquartered in Toronto, Canada.
Acid Alum is an alum formulated with a specific alum-to-acid ratio to improve product performance. It ensures better solids removal, less chemical residue, and optimum pH level of water throughout the treatment.
Key Developments: In 2021, Chemtrade Logistics launched Clar+ion, a new aluminum sulfate formulation with improved cold water treatment performance and faster particle settling characteristics. The product also minimizes chemical sludge generation and is easy to use due to the consolidation of the required chemicals.
Visualize the composition of the high purity aluminum sulfate market segmentation by form, grade, application and region, highlighting the critical commercial assets and players.
Identify commercial opportunities in the high purity aluminum sulfate market by analyzing trends and co-development deals.
Excel data sheet with thousands of global high purity aluminum sulfate market-level 4/5 segmentation data points.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the critical product of all major market players
The global high purity aluminum sulfates market report would provide access to an approx.: 66 market data tables, 62 figures and 180 pages.
Target Audience 2022
Water treatment services providers
Lithium-ion battery manufacturers
Application Investors/Investment Bankers
Education & Research Institutes
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