Market Analysis
The global High Purity Alumina Market is projected to grow substantially at a healthy CAGR 8.16% CAGR over the predicted years (2022-2030). High purity alumina (HPA) is a highly demanded, high margin and high-value product. It is a critical ingredient needed for synthetic sapphire production. Synthetic sapphire is utilized for manufacturing substrates for the LED lights, sapphire glass that is scratch-resistant for wristwatch faces, semiconductor wafers in the electronic industry, smartphone components and optical windows. HPA is widely used owing to its long list of alluring features namely ability of withstanding extreme temperatures, high brightness, scratch resistance and corrosion resistance. The price and performance of HPA vary resting on the degree of purity. With digital access getting more pocket-friendly coupled with rising product awareness as well as a shift in the lifestyle patterns, people investing more on home appliances and electronics can experience a strong growth in the upcoming years.
There are many factors that is driving the growth of the high purity alumina market. Some of these factors as per the Market Research Future (MRFR) report include growing advancements in technology, rising demand from applications such as medical, automotive, electronic displays and LED bulbs, rising penetration of LED in lighting markets, novel applications of HPA in tablets, smartwatches and smartphones, growing application namely sealant, automobile battery material, engineering ceramics, heat dissipation sheet and vapor deposition materials and rapid industrialization. On the contrary, factors such as soaring cost of production and fluctuation in the raw material prices may hinder the growth of the high purity alumina market over the predicted years.
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Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the high purity alumina market on the basis of product type and application.
Based on product type, it is segmented into 4N, 5N and 6N. Of these, 4N will have the maximum share in the market over the predicted years owing to its wide use in the electric vehicles especially in emerging countries. Besides, it is also used in gas separation and laminates and ultrafiltration owing to its porosity and enhanced chemical resistivity.
Based on application, the high purity alumina market is segmented into phosphor, semiconductors, LED and others. Of these, LED will lead the market over the predicted years. The LED products have created a niche owing to its reliability, durability and high life span that makes the adoption rate higher.
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Regional Analysis
Based on region, the High Purity Alumina Market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, Asia Pacific will rule the market over the predicted years due to increasing need for consumer electronics that is technologically advanced in China. India is also a large contributor owing to adoption of government policies for encouraging the LED sector for sustainable consumption of energy. In North America, the high purity alumina market will have a favorable growth with the US being the largest contributor.
Competitive Analysis
The high purity alumina market is less competitive with the existence of just a handful of key materials and chemicals manufacturers. The existence of just a couple of leading players will result in a monopoly situation along with a competitive edge in technology and innovation is likely to be indelicate. With these materials having a soaring price in the present market and burgeoning demand for HPA in battery manufacturing and electronics industries, it is projected to influence the end-user products from such industries. The global high purity alumina market will have a promising growth potential as with the increasing demand for such materials the other key players may invest to open new production capacities for catering the global demand with improved solutions.
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Key Players
Leading players profiled in the high purity alumina market include HPA Sonics LLC (U.S.), Xuancheng Jingrui New Material Co., Ltd. (China), Sasol (South Africa), Rusal (Russia), Nippon Light Metal Company Ltd. (Japan), Baikowski Pure Solutions (France), Sumitomo Chemical Co., Ltd. (Japan), Orbite Technologies (Canada), Alcoa Inc. (U.S.), Altech Chemicals Ltd. (Australia), and others.
Jan 2019- Altech Chemicals Ltd, leading Australian innovator stated that their Development Order for HPA (high-purity alumina) plant in Malaysia finally received every required approval from the state while the establishment works on the plant site has already started.
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