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High Purity Alumina Market Size And Forecast 2021-2027 | Top Manufacturers are Altech, Baikowski SAS, Alcoa Corporation

High Purity Alumina Market Size And Forecast 2021-2027 | Top

Rising requirement for the material in the manufacturing industry is slated to have positive impact on its industry expansion. As per a report published by Global Market Insights, Inc., in 2020, the high purity alumina market share was valued at $1,798.1 million and is expected to exceed $4.5 billion by 2027, registering a CAGR of 15.1%.

Burgeoning demand for LED lights and consumer electronics globally is expected to drive the growth of the high purity alumina (HPA) market. HPA is used extensively in consumer electronics like personal computers, tablets, television, gaming consoles, servers owing to its superior chemical & physical properties such as excellent electrical isolation, high heat resistance, high corrosion resistance, and abrasion resistance.

HPA is most commonly produced by hydrolysis of aluminum alkoxide. With manufacturing firms opting for this procedure, it is estimated that the hydrolysis segment will amass around 15% CAGR by 2027. The process involves high and expensive processed raw materials including aluminum metal. On a different note, the demand for phosphor-based equipment and appliances including plasma TVs is showcasing a huge surge. HPA is used to control & regulate the characteristics of phosphorous products. That being said, the phosphor segment is expected to witness around 15% CAGR in HPA market size.

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The ongoing COVID-19 pandemic has severely impacted the demand for high purity alumina all over the world. Owing to repetitive strict lockdowns and trade bans imposed by governments, business revenues have been harshly impacted during this crisis. These factors have resulted in significantly lesser demand for HPA. However, as vaccination has started worldwide, business are expected to nurture gradually in 2021, with the upliftment of strict guidelines and demand returning to normalcy.
Region-wise, the high purity alumina market will showcase lucrative growth in Latin America. Growth of the regional market will be attributed to rising expansion in the LED manufacturing sector. The expansion is owing to easy availability of raw materials, cost-effective labor, and abundance of land. The product is used extensively in the manufacturing of electronic goods.

The MEA (Middle East Africa) market meanwhile will witness firm growth due developments in the manufacturing sector of the region. Furthermore, rising developing scenarios in the gulf countries specifically in Saudi Arabia will have a noteworthy impact on the provincial high purity alumina market development over the forecast timespan.

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The key players operating in the high purity alumina industry are Shangdong Keheng Crystal Material Technologies Co., Chalco Shangdong Co., Ltd., Altech, Bakowski SAS, Orbite Technologies, Inc., Alcoa Corporation, Rio Tinto Alcan, Nippon Light Metal Holdings Co. Ltd., Norsk Hydro ASA, Hebei Pengda Advanced Materials Technology Co., United Company RUSAL Plc, Ltd., Zibo Honghe Chemicals Co., Ltd., and Polar Sapphire.

High Purity Alumina (HPA) is a high purity product form of Aluminum Oxide (Al2O3) and is extensively used in non-metallurgical applications. The HPA is used as a base fundamental material to manufacture substrates of sapphire, which has wide applications across multiple industry segments. It is used to produce a wide range of products such as scratch-resistant sapphire glasses for smartphones & smartwatches, plasma display screens, lithium-ion battery separators, LED lights, semiconductors, hybrid cars, sodium lamps, optical lenses, electric vehicles, and others.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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