The Global High Purity Alumina (HPA) Market Estimated to Progress at $3121.61 Million by 2028

As per Triton's research report, the global high purity alumina (HPA) market generated $864.93 million in 2020, and is likely to experience growth at a CAGR of 16.15% by 2028.

A recent study by Triton Market Research titled 'Global High Purity Alumina (HPA) Market' consists of the Global Analysis and Forecasts by Application (LED Bulbs, Optical Lenses, Semiconductor Substrate, Biomedical Devices, Li-Ion Batteries, Other Applications), Type (6N HPA, 4N HPA, 5N HPA), Technology (Hydrolysis, Hydrochloric Acid Leaching [HCL]), and by Geography (North America, Latin America, Asia-Pacific, Europe, Middle East and Africa).

High purity alumina refers to a high-quality product that comes under non-metallurgical alumina products. It is employed as a base component in the production of sapphire substrates used in LED lighting and artificial sapphire glass.

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Triton's research report intimates that the global high purity alumina (HPA) market is anticipated to advance at a CAGR of 16.15% in value, and 16.67% in volume, through the years 2021-2028. It is expected to reap revenue worth $3121.61 million by 2028.

In recent years, there has been a growing preference for LED bulbs over conventional bulbs across the globe. In the developed nations, such as the United States, there is a high demand for LED bulbs, owing to the development of commercial, marine, and horticulture industries. Moreover, the advent of new lighting, such as smart lighting and lighting communication, is augmenting the demand for LED bulbs. Hence, the growing demand for LED bulbs, along with a rise in the manufacturing of electric vehicles, is influencing the development of the high purity alumina market. However, the elevated cost of production and strict rules on red mud extracts are obstructing the progress of the HPA market.

The market for HPA is divided into application, type, and technology. The application section is segmented into LED bulbs, optical lenses, semiconductor substrate, biomedical devices, Li-ion batteries, and other applications. In terms of type, the market is sectioned into 6N HPA, 4N HPA, and 5N HPA. Lastly, the technology section is bifurcated into hydrolysis and hydrochloric acid leaching (HCL).

Globally, Asia-Pacific is leading in the high purity alumina market, and is expected to continue its stronghold over the market till 2028. Japan is witnessing strong growth in the electronic segment, gaining leadership over other technology innovators across the region. Moreover, the country is one of the leading manufacturers of semiconductors. Additionally, the government is planning to shift towards the complete production and sale of LED products by 2030. This is likely to boost the LED lighting sector, which is estimated to boost the demand for HPA to produce sapphire for LEDs. Hence, as mentioned above, these factors are expected to drive the progression of the region's high purity alumina market.

Polar Sapphire Ltd, Nippon Light Metal Holdings Company Ltd, Xuancheng Jingrui New Material Co Ltd, Baikowski SAS, Sasol Ltd, Sumimoto Chemical Co Ltd, FYI Resources Ltd, Alcoa Corporation, Rusal, Andromeda Metals Ltd, Norsk Hydro ASA, Zibo Honghe Chemical Co Ltd, Alpha HPA Limited, and Altech Chemicals Ltd are well-known players in the HPA market.

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Question & Answer: High Purity Alumina (HPA) Market

Question 1: What major factors are influencing the development of the HPA market worldwide?

Answer: In recent years, there has been a growing preference for LED bulbs over conventional bulbs across the globe. In the developed nations, such as the United States, there is a high demand for LED bulbs, owing to the development of commercial, marine, and horticulture industries. Moreover, the advent of new lighting, such as smart lighting and lighting communication, is augmenting the demand for LED bulbs. Hence, the growing demand for LED bulbs, along with a rise in the manufacturing of electric vehicles, is influencing the development of the high purity alumina market.

Question 2: What factors are obstructing the progress of the high purity alumina (HPA) market?

Answer: The elevated cost of production and strict rules on red mud extracts are obstructing the progress of the HPA market.

Question 3: Which region is the leading in the high purity alumina market?

Answer: Globally, Asia-Pacific is leading in the high purity alumina market, and is expected to continue its stronghold over the market till 2028. Japan is witnessing strong growth in the electronic segment, gaining leadership over other technology innovators across the region. Moreover, the country is one of the leading manufacturers of semiconductors. Additionally, the government is planning to shift towards the complete production and sale of LED products by 2030. This is likely to boost the LED lighting sector, which is estimated to boost the demand for HPA to produce sapphire for LEDs. Hence, as mentioned above, these factors are expected to drive the progression of the region's high purity alumina market.

Question 4: Which are the well-known players in the HPA market?

Answer: Polar Sapphire Ltd, Nippon Light Metal Holdings Company Ltd, Xuancheng Jingrui New Material Co Ltd, Baikowski SAS, Sasol Ltd, Sumimoto Chemical Co Ltd, FYI Resources Ltd, Alcoa Corporation, Rusal, Andromeda Metals Ltd, Norsk Hydro ASA, Zibo Honghe Chemical Co Ltd, Alpha HPA Limited, and Altech Chemicals Ltd are well-known players in the HPA market.

Related Report:
Global Electric Vehicle Market
https://www.tritonmarketresearch.com/reports/electric-vehicle-market#report-overview

The global electric vehicle market is estimated to advance at a CAGR of 20.95% during the considered phase of 2019-2027, gathering $747.17 billion in revenue by 2027.

Electric vehicles rely on motors for forward motion, and are usually employed as electric spacecraft, aircraft, and road vehicles. These vehicles are motorized via electric current supplied from charging stations or portable batteries.

The government policies to promote electric vehicle use, along with rising per capita income, are boosting the electric vehicle market on a growth path. Besides, a surge in Lithium-ion battery production and government initiatives to mitigate greenhouse gas emissions are opening new opportunities for the market to reach its anticipated growth.
However, the lack of EV charging stations, the elevated cost of electric vehicles, and the lack of public awareness are hampering the global market's future growth.

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