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Global High Purity Alumina Market to Remain Bullish with Escalating Production of LEDs and Lithium-ion Batteries

06-10-2021 08:49 AM CET | Industry, Real Estate & Construction

Press release from: Fairfield Market Research

High purity alumina (HPA), with a purity of >99.99%, has a wide range of industrial applications. According to Fairfield Market Research’s latest report, the global high purity alumina market is expected to flourish in the coming years as the end-use industries such as energy, automotive, and electronics grow at a prolific rate. The market is anticipated to register a staggering CAGR between 2021 and 2025 as electrification dominates the automotive industry. High purity alumina is predominantly used in the batteries of electric vehicles (EVs) for its unique properties. Investments in the development of EVs is expected to bode well for the global market, state analysts.

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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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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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