Increasing Production of LED Bulbs to propel the Global High Purity Alumina (HPA) Market Growth

Inkwood Research estimates that the Global High Purity Alumina (HPA) Market is set to evolve at a CAGR of 16.07% in terms of revenue and 16.50% in terms of volume during the forecasting years of 2021-2028.

"Browse 81 Market Data Tables and 44 Figures spread over 180 Pages, along with an in-depth TOC on the Global High Purity Alumina (HPA) Market Forecast 2021-2028."

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High purity alumina is a high margin, highly demanded, and high-value product. It is considered a vital ingredient needed for the production of synthetic sapphire. Synthetic sapphire is utilized in the manufacture of substrates for LED lights, optical windows, smartphone components, and scratch-resistant sapphire glass. HPA is increasingly used as a coating on the separator sheets in lithium-ion batteries.

Growing Production of LED bulbs over Traditional Bulbs Fuels Market Growth

There is a shift in preference towards LED bulbs from traditional bulbs across the globe. In countries like the United States, the demand for LED bulbs is considerably high, given the development of marine, horticulture, and commercial lighting industries. The lighting market is witnessing an emergence of new applications like light communications and smart lighting. The implementation of stringent regulations for deploying energy-efficient lights is fueling the sales of LEDs. In India, the government distributed 210 million LED bulbs in 2018, along with issuing tenders on LED streetlights retrofit projects.

Furthermore, international bidders are collaborating with local lighting companies to meet requirements related to production capacity, revenue, and manufacturing capability. The rising demand for HPA, along with government support, has resulted in increased adoption of LEDs.

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Hydrolysis is the Major Technology in terms of Revenue and Volume

The most adopted method by major manufacturers for the production of HPA is the hydrolysis of aluminum alkoxide. The high-purity aluminum alkoxide is synthesized from alcohol and aluminum metal. It undergoes hydrolysis to produce hydrated alumina. HPA is also obtained by calcination. The rising demand for primary aluminum has resulted in alumina refiners increase their production. This has further led to a surge in demand for hydrolysis technology to extract alumina. This is because hydrolysis aids in recovering acid, which can be reused, incurring less operating costs. It also helps in HPA product customization to the end-users. Such factors are slated to raise the demand for hydrolysis technology.

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Asia Pacific to Fare the highest CAGR by 2028

The region of Asia Pacific encompasses growing economies like China and India, established HPA players, along with increasing demand for HPA from the automotive and electronics industries. Also, there is a growing need for LED lightings and rising building & construction activities in countries like China, which further drive market growth. The stringent regulations imposed by the government on the import, sale, and production of incandescent lights, further increases the demand for HPA in the region.

Innovations are evaluated to be a huge competitive advantage for market players, decreasing the cost of production. The market is consolidated, with the top five players accounting for more than 50% of the market share. The competitive rivalry is assessed to be moderately high. Some of the major players in the market include, Polar Sapphire Ltd, Rusal, FYI Resources Ltd, Alpha HPA Ltd, etc.

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