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High Purity Alumina Market 2021: Segmentation Analysis, Business Opportunities, Top Players, Prominent Regions and Forecast to 2027

11-26-2021 02:39 PM CET | Industry, Real Estate & Construction

Press release from: Report Ocean

Report Ocean publicize new report on the global High Purity Alumina Market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the global High Purity Alumina Market growth.

According to a new report published by Report Ocean, titled,”High Purity Alumina Market by Type, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2018 – 2025″the high purity alumina market accounted for revenue of $987,042.9 thousand in 2017 and is anticipated to generate revenue of $4,131,799.9 thousand by 2025. The market is projected to grow at a CAGR of 19.4% from 2018 to 2025.

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The demand for high-purity alumina has gained traction, and is expected to grow at a CAGR of 16.7% in terms of volume during the analysis period, owing to increase in demand from applications such as LED bulbs, electronic displays, automotive, and medical. This trend is anticipated to continue with surge in adoption of HPA by end users and emerging technological developments in the electronics industry.

Increase in penetration of LEDs in the lighting market and rise in applications of high-purity alumina in smartphones, smartwatches, and tablets are the major factors propelling the growth of the global market. However, higher cost of production is expected to impede the market growth.

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The LED bulbs segment dominated the high purity alumina market in 2017, owing to the shift toward LED lighting as compared to traditional lighting. Moreover, rise in need for energy-efficient light sources has increased the demand for LED bulbs, which has fueled the growth of this segment. Increase in per capita consumption of power has boosted the demand for electricity across the globe. This in turn has led to rise in demand for high purity alumina in the lighting industry. Electronics display serves as the most lucrative application segment, as several companies are investing in enhanced quality products such as high-purity alumina in electronics displays, encompassing tablets, smartphones, and smartwatches.

Based on technology, the market is bifurcated into hydrolysis and hydrochloric acid leaching (HCL). Hydrolysis is the most adopted technique to manufacture HPA. Orbite Technologies is the first to start the commercial production of HPA using the HCL process, thereby reducing the cost of HPA.

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Asia-Pacific accounted for more than half of the total high-purity alumina market in 2017, and is expected to maintain its lead position during the forecast period, owing to increase in domestic production of energy efficient lightings, such as LEDs. China is one of the largest countries in the Asia-Pacific region, and is expected to continue its dominance during the analysis period in terms of volume and revenue, since it is a hub for LED manufacturing in Asia-Pacific.

The key players operating in the global high-purity alumina market include Orbite Technologies Inc., Sumitomo Chemical Co., Ltd., Baikowski SAS, Alcoa Inc., Nippon Light Metal Holdings Company, Ltd., Altech Chemicals Ltd., Zibo Honghe Chemical Co. Ltd., UC Rusal, Sasol, and Xuan Cheng Jing Rui New Material Co. Ltd.

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Key Findings of the High Purity Alumina Market:

The North America high purity alumina market is projected to grow at a highest CAGR of nearly 24.5%, in terms of revenue, during the forecast period
The 5N of by type segment of high purity alumina market is anticipated to witness moderate growth rate of 21.1%, in terms of revenue, during the forecast period.
Asia-Pacific dominated the high purity alumina market with a revenue share of over 68.5% in 2017
The high purity alumina market trends are analyzed across the North America, Europe, Asia-Pacific, and LAMEA.
The qualitative data in this report aims on the market dynamics, trends, and developments in the high purity alumina industry while the quantitative data provides information of the market size in terms of revenue and volume.

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Key questions answered in the global High Purity Alumina Market report are:

How does a global company acquire markets?

What are its core strategies and policies?

What factors will influence the chemical market over the forecast period?

What are the factors driving and restraining the market for chemicals?

What are the leading competitors in the global market?

Which region is growing at a higher pace in the global market?'

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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