Global High Purity Alumina Market to Exhibit 15.4% CAGR, Asia Pacific to Lead the Market during the Forecast Period 2018-2026

Global High Purity Alumina Market: Snapshot

The global market for high purity alumina market is rising due to significant rise in demand for lithium-ion batteries, LEDs, and related products. Rise in demand for LED products in developing countries are driving the force for global high purity alumina market. It has usage in various applications such as thermal decomposition process, alkoxide process, modified bayer process, and choline hydrolysis process. High purity alumina is also used for coating of sapphire glass. Separators of lithium-ion battery that are found in portable electronics and electric vehicles. There is a rise in demand for high purity alumina by smartphones manufacturers due to rise in use of sapphire glass. The major factor driving the market is LED productions. LED’s substrate includes high purity alumina’s sapphire as a material. The crystal sapphire is derived from high purity alumina possesses favorable mechanical properties and chemical stability. This makes it ideal for the electronic industry. The global market for high purity alumina is also driven by sapphire’s use in semiconductor applications. High purity alumina is used as separators in Li-ion batteries that are used in electronic devices and electric vehicles. The other applications of high purity alumina are abrasives, alumina ceramic, translucent cosmetics, and separation membrane.

The global high purity alumina market is expected to expand at a remarkable CAGR of 15.4% during the forecast period of 2018 to 2026. The global market’s revenue was valued at US$1,100 mn during 2017 and is expected to rise significantly during the forecast period.

For More Industrial Insights Get PDF Brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=12665

Higher Adoption of Lithium-Ion Batteries Due to Rise of Electric Vehicles

The high purity alumina market is segment according to product type into 4N high purity alumina that is 99.99%, 5N high purity alumina that is 99.999%, and 6N purity alumina which is 99.9999%. Among these, demand for 4N high purity alumina that is lithium-ion batteries with 99.99% will rise during the forecast period due to its significant use in electric vehicles in emerging countries such as South Korea, U.S., and china. Gigafactory, the lithium-ion battery manufacturing company in U.S. has already increased the demand for high purity alumina market. This company manufactures solar panel, energy storage, and electric vehicles. Its demand in storage capacitors, LEDs, and lithium-ion based batteries will fuel the market for the same. Thus, 4n high purity lithium is expected to lead the market during the forecast period.

Asia Pacific to Lead Market Owing to Demand in Emerging Countries

The high purity alumina market was led by Asia pacific during 2017 due to highest market share held by this region. Asia pacific is expected to lead the market during the forecast period due to emerging developing countries such as China, Taiwan, South Korea, and japan dominating the market for electronic equipment production during the forecast period. North America is expected to rise during the forecast period due to its high consumption of high purity alumina market. The market in U.S is expected to generate lucrative opportunities for medium to small based manufacturers owing to rise in investment of electronics and from foreign programs. The rise in demand is due to factors such as entertainment features, information, navigation, safety, comfort, and engine sufficiency.

For More Industrial Insights Get Customized Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=12665

Some of the leading companies in the global high purity alumina market are Polar Saffire Ltd., Altech Chemicals Ltd., Nippon Light Metal Co. Ltd. Sumitomo Chemical Co. Ltd., and Sasol Ltd.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.