Aluminum Soap: Introduction
- Aluminum soaps are prepared by heating a fatty acid in the presence of aluminum oxide. Aluminum soap is primarily used as a lubricant in the manufacture of polyamides and thermosetting plastics. Aluminum soap is primarily used as a lubricant in the production of aluminum greases. Aluminum greases have excellent ability to adhere to metallic surfaces. Aluminum soap is transparent and is hydrophobic. Therefore, it is extensively used in the paints & coatings sector. Aluminum soap also possesses excellent thickening ability. Therefore, it is an ideal material for varnishes and lacquers.
Growth of Paints & Coatings Industry to Boost Consumption of Aluminum Soap
- The global paints & coatings market is primarily spread across Middle East & Africa, Latin America, Asia Pacific, North America, and Europe. The global coatings market stood at 308.6 million tons in 2019, according to The Sherwin-Williams Company’s investor presentation of 2019. Paints and coatings are used in a wide range of applications such as automotive, construction, industrial, and marine. Growth of these industries is correlated to the expansion in economic activity of a region. The paints & coatings market in a country or region expands in line with the economic development in that country or region.
- Macroeconomic factors such as GDP growth, rise in purchasing power, higher disposable income, urbanization, and improvement of economic conditions in developing countries impact the expansion of the paints & coatings market. This further indicates the growth of the aluminum soap market, as aluminum soap is used as a hydrophobic agent in formulation of coatings.
Impact of COVID-19 on Global Aluminum Soap Market
- Economy of countries across the globe witnessed a phase of slowdown in terms of production in the second quarter of 2019. The spread of the pandemic created uncertainty in terms of production and consumption of chemicals. Consumption of paints and coatings was severely affected in 2020 due to the decline in demand from the construction sector. This hampered the demand for aluminum soap, which is mainly used in the formulation of paints and coatings. Supply of raw materials was also severely affected due to the spread of the pandemic. This hampered the production of aluminum soap. However, the sector is gaining traction with introduction of vaccine for pandemic. This is expected to augment the construction sector by the end of 2021. In turn, this is likely to boost the consumption of aluminum soap in the near future.
Asia Pacific to Hold Major Share of Global Aluminum Soap Market
- In terms of region, the global aluminum soap market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is the major region, wherein construction activities are currently taking place at a rapid pace. Expanding population and increase in urbanization have led to shortage of space across countries such as China, India, and Thailand. This is likely to boost the need for paints and coatings in the near future, thereby propelling the consumption of aluminum soap, as these are used as thickening and impregnating agents in the production of building materials.
- The market in Europe is likely to expand at a fast-paced CAGR between 2020 and 2030. Growth of the construction industry and increase in reconstruction activities are projected to drive the need for coatings in the near future. This is expected to propel the demand for aluminum soap in the near future.
Key Players Operating in Market
The global aluminum soap market is fragmented. Global producers such as Baerlocher GmbH are primarily engaged in new product development and expansion of their manufacturing capacity to meet the rising demand for metal soaps. For instance, Baerlocher USA expanded its manufacturing capacity in 2017. The company announced that it had expanded its manufacturing capacity of metal soap by 50%. Key players operating in the aluminum soap market include:
- Baerlocher GmbH
- Peter Greven GmbH & Co. KG
- FACI Group
- Valtris Specialty Chemicals
- Marathwada Chemical Industries Pvt Ltd
- IRRH SPECIALTY CHEMICALS
- PROMAX Industries ApS
- Norac Additives, LLC
Global Aluminum Soap Market: Research Scope
Global Aluminum Soap Market, by Type
- Mono-aluminum Soap
- Di-aluminum Soap
- Tri-aluminum Soap
Global Aluminum Soap Market, by End-use Industry
- Building & Construction
- Packaging & Consumer Goods
- Paints & Coatings
- Sealants & Adhesives
Global Aluminum Soap Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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