Aluminum Sulfate Market Size Worth US$ 1,516.9 Million By 2034: Fact.MR Report

Rockville , Feb. 28, 2024 (GLOBE NEWSWIRE) -- The global aluminum sulfate market is estimated to be US$ 1,107 million in 2024 and is projected to grow at a CAGR of 3.20% through 2034. The market is expected to surpass a valuation of US$ 1,516.9 million by 2034.

The demand for aluminum sulfate in commercial and industrial settings is increasing. This is primarily due to its versatility and effectiveness in various applications such as water treatment, paper manufacturing, and diverse industrial processes. Businesses and manufacturing units prefer aluminum sulfate over other non-ferrous metals as it offers cost-effective solutions for water treatment and industrial processes.

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Not just in these industries, aluminum sulfate also finds its application in the cosmetic industry. These companies use aluminum sulfate in the formulation of products such as toners and aftershaves. Even in the pharma industry, aluminum sulfate is in great demand because of its ability to act as a coagulating agent and its use in certain chemical processes.

Industries in the agriculture sector are also prominent consumers of aluminum sulfate. Its significance in this sector has experienced a surge in the production of fertilizers and soil amendments. In countries like India, China, and the United States, where agricultural activities dominate the primary sector, sales of aluminum sulfate have touched the skies in the past few years.

“Forming partnerships within the industry is very essential. Companies in the aluminum sulfate market collaborate with other industry players, research institutions, and environmental organizations to foster innovation, share knowledge, and collectively address challenges in the market,” says a Fact analyst.

Key Takeaways from the Market Study

• The global aluminum sulfate market is projected to expand at a CAGR of 3.20% from 2024 to 2034.
• The North American aluminum sulfate market is expected to grow at a CAGR of 3.40% from 2024 to 2034.
• The United States holds a dominant share of 68.30% of the aluminum sulfate market in the North American region.
• China dominates the aluminum sulfate market in the East Asian region, and is estimated to be valued at US$ 201.9 million in 2024.
• The aluminum sulfate industry in the United States is expected to rise at a CAGR of 4.10% from 2024 to 2034.
• Based on the technology, the ferric alum segment is expected to hold a 63.10% market share in 2024.
• The non-ferric segment also leads the market with a 36.90% share in 2024, based on application.
  

Competitive Landscape

International companies play a dominant role in the aluminum sulfate market. The market is filled with international companies, such as Norsk Hydro, Aditya Birla Chemicals, Chemtrade Logistics Income Fund, Zibo Xinfumeng Chemicals Co., Ltd., Kemira Oyj, and Southern Ionics. These companies invest in research and development to enhance the efficiency and versatility of aluminum sulfate. As environmental concerns are rising, companies are also focusing on producing ferric aluminum sulfate using eco-friendly methods and highlighting the compound's environmental benefits in marketing strategies.

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Country-wise Insights

Through 2034, the aluminium sulphate market in North America is expected to develop at a compound annual growth rate (CAGR) of 3.40%. The principal cause of the increase is the rising demand for aluminium sulphates in important nations, particularly Mexico and the United States. With a projected 68.30% market share in 2024, the US is expected to lead the aluminium sulphate business. In the meantime, significant growth is expected in the East Asian aluminium sulphate market, which is projected to reach a 4.10% CAGR in 2024. China emerges as the industry leader in this region, with a substantial share of 59.40% in 2024.
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Aluminum Powder Market : The global aluminum powder market size is estimated to be valued at US$ 533.0 million in 2023 and it is anticipated to grow at a CAGR of 6.4% to reach a valuation of US$ 992.3 million by the end of 2033.

Alumina Slurry Market : Alumina slurry sales are anticipated to increase at a CAGR of 8.5% through 2032.

About Fact :

Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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