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Global High Purity Alumina Market - Insights, Opportunity Analysis, and Industry Forecast till 2025
High Purity Alumina Market
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The global high purity alumina market size was valued at US$ 1764.9 million (revenue) and is expected to expand at a CAGR of 16.3% in terms of revenue during the period 2017 – 2025.
Surging demand for Electronic Displays Augmenting Market Growth
Asia Pacific has emerged as a major manufacturing hub, with major players focusing on capitalizing on economies of scale in the region. Furthermore, the region is a highly lucrative market for consumer electronic products, on the back of rampant economic growth in countries such as India and China. Besides, as per statistics released by India Brand Equity Foundation (IBEF)—a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the country is poised to emerge as the second-largest market for smartphones in 2017. According to stats released by Coherent Market Insights, the electronic display market is projected to exhibit a robust CAGR of 16.9% during 2017-2025. These factors collectively position Asia Pacific as a powerhouse in the global high purity alumina market, and is expected to retain its dominance in the market through 2025.
To know the latest trends and insights prevalent in this market, click the link below: @ https://www.coherentmarketinsights.com/market-insight/high-purity-alumina-market-353
Cost Reduction: A Major Challenge for Market Players
The high purity alumina is a highly capital intensive market, which creates high entry barriers for new entrants. High production costs result in high cost of end products and relatively low profitability. Thus, the market is highly consolidated and is mainly dominated by major players based in Australia and China. This is mainly attributed to large bauxite reserves—the basic raw material for production of high purity alumina—in these countries.
Major players in the global high purity alumina market include Altech Chemicals Limited, Baikowski Pure Solutions, Nippon Light Metal, Polar Sapphire Ltd., Sumitomo Chemical Co. Ltd., Orbite Technologies Inc., and Alcoa Inc. and among others.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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