The Aluminum Chloride Hexahydrate Market
is predicted to grow at a CAGR of 4.1% during the forecast period of 2022-2027 and reach the market value of US$450 million by 2027. The growth of the aluminum chloride hexahydrate market will be remarkably dependent on the pharmaceutical and cosmetics industry. An increase in the use of skin care products is substantially boosting the demand for aluminum chloride hexahydrate. It is majorly used as an antiperspirant which mainly works by impacting sweat-producing cells. It is primarily used in the skin condition of hyperhidrosis, a skin disorder of producing excessive sweat. Aluminum chloride hexahydrate can be used in deodorants, dyeing fabrics, textile finishing and refining crude oil.
Aluminum Chloride Hexahydrate Market: Leading Segment is the Pharmaceutical and Cosmetic
On the basis of end-use application, the aluminum chloride hexahydrate market can be segmented into pharmaceuticals and cosmetics, water and wastewater treatment, metal casting, chemical and others. The pharmaceuticals and cosmetics segment is expected to grow at the fastest CAGR of 6.2% during the forecast period of 2022-2027. Aluminum chloride hexahydrate is majorly used as an antiperspirant and largely prescribed as an antihemorrhagic agent. It is used to treat the condition of producing excessive sweat. It is advisable to dry the skin before applying medicine containing aluminum chloride hexahydrate. It can be used on armpits, soles of feet and palms of hands. An increase in concerns regarding skin-related issues and consumer inclination towards skin care and nourishment is boosting its demand. As per the Personal Care Association of Europe, in 2020, skincare products with a valuation of US$23.74 billion value, held the maximum share of the European cosmetics market in major countries like Germany, France, the UK, Spain and Italy.
Aluminum Chloride Hexahydrate Market: Leading Region is the Asia Pacific
On the basis of geography, the aluminum chloride hexahydrate 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 32% in the overall market. This is mainly attributed to the presence of several industries such as pharmaceutical and cosmetic, chemical and metal casting. According to the quarterly statement of Shiseido, in 2021, cosmetic sales of the company increased majorly in Asia-Pacific with Japan having 31% share followed by China with 28%. Thus, the growth of the cosmetic industry in this region is fueling market growth. Asia Pacific is followed by Europe which is expected to gain demand for the aluminum chloride hexahydrate market. The major countries in Europe include the U.K., Germany, France, Italy, the Netherlands, Spain, Russia and Belgium.
Aluminum Chloride Hexahydrate Market: Competitive Landscape
The key companies holding major share in the aluminum chloride hexahydrate market include Base Metal Group, American Elements, VWR International, LLC, IRO Group, Inc., Honeywell International, Inc., Tianjin Flourish Chemical Co. Ltd., Wuxi Lansen Chemicals Co. Ltd., Gulbrandsen, Gujarat Alkalies & Chemicals Ltd and Anmol Chloro Chem.
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