Published: Nov, 2018
The growth in the high purity alumina market is majorly driven by the increasing demand from various LED and lithium-ion battery manufacturers. This was published in a recent report by Transparency Market Research. The world has been observing an increasing demand for high purity alumina applications such as electronic displays, automotive, medical, and LED bulbs. The high purity alumina market consists of solution providers manufacturers that serve to different end-use industries across the world. Some of the prominent players operating in the global high purity alumina market include Altech Chemicals Ltd., Polar Saffire Ltd., Sumitomo Chemical Co. Ltd., Sasol Ltd., and Nippon Light Metal Co. Ltd.
The global high purity alumina was valued at US$1100mn in 2017 and is estimated to grow considerably in the forecast period 2018-2026. The global market is expected to rise at a robust CAGR of 15.4% from 2018-2026. Based on geographical regions, Asia Pacific is likely to dominate the high purity market owing to the continuous developments in countries for example Taiwan, Japan, South Korea, and China in the forecast period. These countries are developing at a significant rate due to the excessive production for electronic equipment. North America is also anticipated to expand in the forecast period as the region has high consumption of high purity alumina. In U.S, the market has created huge growth opportunities for SMEs due to the increasing investments in electronics. Based on segments, the high purity alumina market is divided into 4N, 5N, and 6N high purity alumina market. Of these, the 4N high purity alumina is expected to lead in the forecast period 2018-2026 owing to its excessive use in electric vehicles in some of the developing countries.
LEDs and Li-ion Batteries to Offer Growth Opportunities in the High Purity Alumina Market
The global high purity alumina market is expected to rise exponentially as the developments in technologies such as increasing usage of LEDs in the lighting market, new applications of high purity alumina in the smartwatches, smartphones, and other gadgets are increasing. It is expected that LED’s will save upto 90% of electricity by the end of the year 2020. They provide better quality of light as compared to fluorescent lights. The production cost of LEDs has come done in the past few years. This trend is likely to persist in the high purity alumina market during the forecast period. Therefore, rising demand for LEDs and increasing production is anticipated to expand the high purity alumina market globally from 2018-2026. With the rising technological advancements, the manufacturing cost of various electronic devices has reduced. These reductions when coupled with the regulatory policies on energy consumption, are offering various growth opportunities for LEDs to set foot into the lighting sector. LED lighting is estimated to be a profitable area for the high purity alumina market during the forecast period.
The global high purity alumina market is estimated to grow due to the increased production of lithium-ion batteries especially in electric vehicles from 2018 to 2026. Further to this, increasing demand for energy storage devices and consumer electronics is estimated to surge the demand for lithium-ion batteries and which ultimately will increase demand for high purity alumna market. The manufacturers of li-ion batteries have started to focus on increasing their production. This initiative is forecasted to continue and rise at a significant rate in the coming years. Hence, the estimated rise in li-ion batteries and implementation of high purity alumina is anticipated to drive demand for high purity alumina market from 2018-2026.
The aforementioned information is comprised into High Purity Alumina Market (HPA) Market (Grade - 4N, 5N, 6N; Application - LEDs, Semiconductors, Phosphor, Li-ion Batteries, Sapphire) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.
Key segments of the Global High Purity Alumina Market
High Purity Alumina Market – Grade Analysis
High Purity Alumina Market – Application Analysis
- Li-ion Batteries
High Purity Alumina Market – Regional Analysis
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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