High Purity Alumina Market Segmentation, Analysis by Production, Consumption, Revenue and Growth Rate by 2030
High purity alumina is a white crystalline powder with more than 99.99% purity level and properties such as corrosion resistance, chemical stability, high brightness and melting point. It is prepared by dissolving aluminum hydroxide in an electrolytic cell containing three different electrolysis layers including anode, electrolyte and cathode. High purify aluminum is widely used for the production of LED and sodium lights, plasma display screens, high thermal conducting inorganic filler, semiconductors, lithium- ion battery and sapphire glasses for smart watch. It is also used in healthcare industry for manufacturing oxygen sensors, artificial bones and joints.
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Top Companies: Norsk Hydro ASA, Sumitomo Chemical Co., Ltd., Baikowski SAS, Alcoa Inc., Nippon Light Metal Holdings Company, Ltd., Altech Chemicals Ltd., Zibo Honghe Chemical Co. Ltd., Sasol and Xuan Cheng Jing Rui New Material Co. Ltd., and Hebei Pengda Advanced Materials Technology Co., Ltd.
Market Dynamics and Trends
Increasing demand for LED lights in developing countries especially in India and China due to various government initiatives aimed at reducing energy consumption along with the rollout of number of streetlight projects have been driving the growth of HPA market. For instance, in January 5, 2020, government of India had distributed over 36.13 crore LED bulbs across India under its UJALA initiative and installed around 1.03 crore smart LED streetlights under the Street Lighting National Program. Also, HPA’s application in the production of optical lens and scratch-resistant glasses that are used in smartphones & watches is expected to further propel the growth of high purity alumina market.
Moreover, factors such as increasing investment and technology adoption to strengthen the defense sector across countries have resulted into greater utilization of high purity alumina. It is also an important element in the semiconductor industry. For example, HPA is widely used for the construction of aircraft body, chip-sets and circuit boards, which is further expected to drive the growth of HPA market during the forecast period.
However, government regulation related to residue from the production of aluminum, surging price and limited knowledge about the production procedure of HPA are the factors restraining the growth of market during the forecast period. On the contrary, growing use of HPA for manufacturing medical equipment and its high demand in emerging economies such as India and China are expected to create ample growth opportunities for the market in the coming years.
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Market Segmentations and Scope of the Study:
The high purity alumina market is segmented on the basis of type, technology, application and geography. On the basis of type, the market is divided into 4N, 5N and 6N high purity alumina. On the basis of technology, the market is classified into hydrolysis and hydrochloric acid leaching. On the basis of application, the market is categorized into LED Bulbs, Semiconductor Substrate, Li-Ion Batteries, Optical Lenses, Bio Medical Devices, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
Asia-Pacific holds the lion share of HPA market during the forecast period. This is attributed to factors such as increasing usage of LED based lightning solutions and growing application of Li-ion batteries in countries such as China, India, and South Korea. Some of the lightning products commonly used in China are light emitting diodes (LEDs), compact fluorescent lamps (CFLs), electrodeless discharge lamps (EDLs), and organic light emitting diodes (OLEDs). Also, presence of major key players such as Sumitomo Chemical Co., Ltd, Baikowski SAS, and Sasol and Xuan Cheng Jing Rui New Material Co. Ltd. boosts the market growth in this region.
However, North America is expected to show a steady rise in the HPA market due to the rapidly increasing adoption of HPA in electronics and semiconductor industry in this region. Moreover, rising focus on the development of high-end products and consumer home appliances are expected to drive the HPA market growth in this region.
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