The Aluminum Metaphosphate Market
is predicted to grow at a CAGR of 4.5% during the forecast period of 2022-2027 and reach the market value of US$436.2 million by 2027. The growth of the aluminum metaphosphate market would be significantly dependent on the automotive industry. Aluminum metaphosphate is widely used in the production of optical glasses which are further used in a variety of industries such as automotive agriculture, food and beverages and others. Aluminum metaphosphate is generally available in different grades such as nanopowder, submicron and high purity. It is extensively used in enamels, insulating cement, molecular sieves and glazes.
Aluminum Metaphosphate Market: Automotive Segment Leads the Market
On the basis of end-use industry, the Aluminum Metaphosphate market can be segmented into automotive, building and construction, food and beverage, agriculture, pharmaceutical and others. The automotive segment is projected to grow at the fastest CAGR of 6.5% during the forecast period of 2022-2027. Aluminum metaphosphate is manufactured using the polymerization process of monoaluminum phosphate. It is mainly used in the production of enamel and glasses such as laser glass, optical glass and filtering glass. In the automotive industry, it is mainly utilized in battery and glass applications. As per OICA, all vehicle production reached 80 million units in 2021, up from 77.7 million units in 2020. Furthermore, according to Organisation Internationale des Constructeurs d’Automobiles, the global automotive market showed 3.1% growth in 2021 as compared to 2020. Thus, the flourishing automotive industry is further driving the growth of the Aluminum Metaphosphate market.
Aluminum Metaphosphate Market: Asia-Pacific Holds the Largest Market Share
On the basis of geography, the Aluminum Metaphosphate market can be categorized into North America, Europe, Asia-Pacific, South America and the Rest of the World. According to IndustryArc’s analysis, Asia-Pacific has emerged as one of the most lucrative regions in the market. In 2021, the Asia-Pacific region held a market share of 41% of the overall market. This growth is mainly attributed to the presence of a wide range of industries such as automotive, building and construction, food and beverages and pharmaceutical in this region. Furthermore, Asia-Pacific comprises fast developing economies such as China, India, Indonesia and Malaysia which are supporting the market growth. Asia-Pacific is considered one of the lucrative regions for the production of automobiles. According to Organisation Internationale des Constructeurs d’Automobiles, China accounted for around 33% of the world automotive production whereas Japan and India accounted for 10% and 5% respectively of the global automotive production. Thus, the presence of a wide range of industries along with the increase in automotive production is boosting the demand for the aluminum metaphosphate market. Asia-Pacific is followed by North America which is expected to gain high demand for the Aluminum Metaphosphate market.
Aluminum Metaphosphate Market: Competitive Landscape
The key companies holding major share in the AluminumMetaphosphate market are America Elements, Sigma Aldrich, Alfa Aesar, Nippon Chemical Industrial, Ereztech, ChemPUR, Shanghai Mintchem Development Co., Ltd., ProChem, Inc., Hunan Heaven Materials Development Co., Ltd. and Shijiazhuang Xinsheng Chemical.
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