Global High Purity Alumina Market is anticipated to reach USD 6.41 billion by 2024. High Purity Alumina (HPA) is a high margin, high-value, and is in great demand as it is the critical ingredient essential to produce synthetic sapphire. The factors that propel the growth of the high purity alumina market include growing end-user applications such as sapphire, semiconductors, LEDs, and phosphor, growing technological developments, and increasing saturation of LEDs in the lighting market. On the other hand, there are factors that may hamper the growth of the market including higher cost of production. High purity alumina industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
High purity alumina market could be explored by type, technology, application, and geography. The market could be explored by purity level as 6N, 5N, and 4N. The “4N purity level” segment led the market of high purity alumina in 2016 and is anticipated to maintain its dominance by 2024. The key factors that could be attributed to the growth of market include increasing use, lower manufacturing costs, low impurity clay feedstock, and easy accessibility of smelter grade alumina.
Based on technology, the high purity alumina industry could span Hydrochloric acid leaching and Hydrolysis. The “Hydrolysis” segment led the market of high purity alumina in 2016 and is anticipated to maintain its dominance by 2024. The key factors that could be attributed to the growth of market include high acceptance of these techniques among the manufactures, and ability to reduce the production cost of HPA.
The key applications that could be explored in the high purity alumina market include Phosphor, Semiconductor, Light Emitting Diode, Sapphire, and Others. The “Light emitting diode” segment led the industry of high purity alumina in 2014 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market include energy efficient operation, growing use of LED lighting in the automotive industry, and increasing demand.
Asia-Pacific accounted for the major share of the high purity alumina industry in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing demand for technologically progressive consumer electronics, growing affordability of raw materials and availability of cheap labor, increasing disposable income, and rapid industrialization. Asia-Pacific is likely to be followed by the North American region owing to increasing investment by manufactures in R&D activities, and improved focus on technological innovation in industries. Some of the key players that fuel the growth of the high purity alumina industry comprise Sumitomo Chemical Co., Ltd;
Orbite Technologies Inc.; Alcoa Inc.; Bukowski SAS; Alltech Chemicals Ltd; Zibo Honghe Chemical Co. Ltd.; Dalian Hiland Photoelectric Material Co., Ltd.; Xuan Cheng Jing Rui New Material Co. Ltd.; Nippon Light Metal Holdings Company, Ltd.; UC Rusal, Sasol; Rio Tinto Alcan, Norsk Hydro ASA, Hebei Pengda, Shandong Keheng Crystal Material Technologies Co., Ltd. and Wuxi Tuoboda. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
High Purity Alumina Product Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
High Purity Alumina Application Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
• Light Emitting Diodes
High Purity Alumina Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Research Support Specialist, USA