High Purity Alumina Market Worth to cross USD 8062.15 million By 2027
Posted On August 20, 2021
The Global High Purity Alumina Market value is expected to grow by an impressive 20% of CAGR during the forecast period of 2021 to 2027. The market can grow to USD 8062.15 million by 2027 as per the report by Value Market Research. The high purity alumina market is primarily driven by declining LED price and growing preference for LED bulbs during the forecast period because HPA is extensively used in the production of LED bulbs. The demand for LED bulbs is continuously on the rise owing to its various benefits such as cost effectiveness, energy efficiency and reduced carbon emission thereby positively influencing the HPA market. The HPA market is expected to witness considerable growth owing to increasing adoption and production of electric vehicles (EVs) as it addresses environmental concerns. This is fueling the demand for lithium ion batteries resulting in increasing consumption of HPA. HPA is used as a coating on lithium-ion battery seperators in order to maximize efficiency and reduce emissions. Another key factor contributing to HPA market growth is its wide usage in smartphones and smartwatches. Apart from this, manufacturing of ready-made bio-ceramics for dental and orthopedic implants will create new growth opportunities for its market. On the contrary, factors like strict environmental regulations related to “Red Mud” extraction and the residues, lack of technical expertise and increasing price HPA may hinder high purity alumina market growth.
High purity alumina or HPA is a highly pure form of aluminium oxide, the purity level being as high as 99.99%. HPA exhibits good mechanical strength, wear strength, electrical isolation, corrosion resistance and high temperature resistance. It is obtained by processing non-metallurgical alumina and is considered as a high-value premium product. Based on the level of purity, HPA can be categorized as 4N, 5N and 6N. It is the primary ingredient required for manufacturing artificial sapphire substrates or synthetic sapphire which in turn is used in diverse applications such as LEDs (light emitting diodes), artificial sapphire glass, lithium ion batteries, semiconductors, smart electronic devices, artificial gemstones, photovoltaic cells and ceramics. It is highly demanded as there is no other alternative that can be used for making sapphire substrates instead of HPA.
The detailed research study "Global High Purity Alumina Market Report By Product (4N, 5N, 6N), By Application (LED, Semiconductor, Phosphor, Sapphire, Lithium-Ion Battery, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" assists in understanding the market dynamics with qualitative as well as quantitative data.
On the basis of product the market is segmented into 4N, 5N, 6N. By application the high purity alumina market is categorised as LED, Semiconductor, Phosphor, Sapphire, Lithium-ion battery, Others. The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the high purity alumina market.
The Report Segments Global High Purity Alumina Market -
- Lithium-ion battery
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
Altech Chemicals Ltd, Zibo Honghe Chemical Co., Ltd, CoorsTek Inc., Almatis, Inc., Sumitomo Chemical Co., Ltd, FYI Resources Limited, Baikowski, Nippon Light Metal Holdings Co., Ltd, Polar Sapphire Ltd., and Pure Alumina.
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