Global High Purity Alumina Market to Remain Bullish with Escalating Production of LEDs and Lithium-ion Batteries
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Production of Lithium-ion Batteries to Boost Demand for High Purity Alumina
As of 2018, high purity alumina demand pegged at 30,000 ton per annum. The 4N (99.99% purity) contributed to a significant share. This demand was especially stoked by lithium-ion battery separators, which are being used in the production of electric vehicles. The shift from conventional vehicles to electric ones as countries try to reduce carbon emissions and pollution is expected to further drive the demand for lithium-ion batteries, which are coated with separators that use high purity alumina. Presently, about 60% of the batteries are coated with HPA and the number is expected to reach 80% by 2030. Demand for high purity alumina will soar as it enhances the battery life cycle, lessens self-discharge, and improves thermal stability.
LEDs to Provide Bright Future to Global High Purity Alumina Market
Through the years, LEDs have been replacing incandescent lighting as they consume less energy. In the coming 5 years or more, the LED production is expected to surge at a CAGR of 10-12%, predict analysts. LEDs use sapphire substrate, which is made by using high purity alumina. The demand for HPA has grown significantly over the years as the LED manufacturers have identified that the use of 4N+ grades of HPA for improves LED quality. Thus, as countries such as India, China, the U.S., South Korea, and Japan along with the EU promote LED lighting, they are expected to boost the demand for high purity alumina as well. However, this trend faces a threat of substitution from the increasing use of silicon substrates and silicon carbide.
Asia Pacific to Lead High Purity Alumina Market as Supply Remains Concentrated
Geographically, Asia Pacific is expected to lead the global high purity alumina market. With the strong presence of players in the region, the regional market is expected to lead throughout the forecast period. With India and China as major automotive and electronics manufacturing hubs, the supply of high purity alumina is concentrated in the region. The growing consumer demand for electronics and vehicles in the coming years is expected to keep the region in the lead throughout the forecast period.
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Global High Purity Alumina: Competitive Landscape
Some of the key players operating in the global high purity alumina market are Sumitomo, Zibo Xinfumeng, Hebei Pengda Advanced Materials Technology Co., Ltd, Bestry Technology, and Nippon Light Metal. These companies hold 2/3rd of the total output, making the competitive landscape oligopolistic in nature.
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