Press release
High Purity Aluminum (HPA) Market Size to Boost USD 11.69 Billion By 2032 | CAGR 18.6% - Published by Emergen Research
High Purity Aluminum (HPA) Market
Automotive and aerospace manufacturers are seeking lightweight materials to replace heavier counterparts with a strong emphasis on fuel efficiency, emissions reduction, and overall performance enhancement. High Purity Aluminum (HPA) is a lightweight and strong metal that is well-suited for demanding applications in the aerospace and automotive industries. HPA is used in critical components, such as airframes, engine components, structural elements, body panels, and chassis, to reduce weight without compromising structural integrity. This can lead to improved fuel efficiency, increased payload capacity, and enhanced overall performance.
The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.
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Drivers of the High Purity Aluminum (HPA) Market :
The high purity aluminum market is propelled by several key drivers. In the electronics sector, the increasing demand for high-performance electronic devices such as smartphones, tablets, and laptops necessitates the use of high purity aluminum in semiconductor manufacturing and electronic packaging. Moreover, the aerospace and automotive industries rely on high purity aluminum for lightweight structural components and advanced materials, contributing to market growth. Additionally, the rising preference for sustainable packaging solutions has led to the adoption of high purity aluminum in the food and beverage packaging industry, further driving market demand.
Restraints and Challenges
Despite its growing demand, the high purity aluminum market faces certain restraints and challenges. One of the primary challenges is the high production costs associated with refining aluminum to achieve ultra-high purity levels. The complexity of the refining processes and the need for specialized equipment and expertise contribute to elevated production costs, which can limit market growth. Moreover, fluctuations in raw material prices, particularly for bauxite and alumina, pose challenges to manufacturers operating in the high purity aluminum market.
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The report also discusses the key players involved in the market such as:
Rio Tinto, Alcoa Corporation, Rusal, Norsk Hydro ASA, Nippon Light Metal Co., Ltd., Sakai Aluminium Corporation, Sumitomo Chemical Co., Ltd., Sasol, Baikowski SAS, and Honghe Chemical.
The report provides a thorough estimation of the overall impact of the pandemic on the High Purity Aluminum (HPA) Market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the High Purity Aluminum (HPA) Market
High Purity Aluminum (HPA) Latest Industry News
On 16 February 2023, Mining company Rio Tinto and Japanese trading and business conglomerate Marubeni Corporation finalized their initial transaction under a recently established strategic collaboration agreement. This arrangement aims to ensure a consistent and environmentally responsible source of Rio Tinto's Responsible Aluminium products for downstream manufacturers in Japan. The inaugural sale involves a shipment of Rio Tinto's RenewAl high purity aluminum, sourced from the sustainably powered New Zealand Aluminium Smelters (NZAS), and it is destined for a prominent Japanese motorcycle manufacturer that has made a firm commitment to lowering carbon emissions across its supply chains and production procedures.
On 4 August 2022, Norsk Hydro ASA, a Norwegian aluminum manufacturer, announced a USD 51.3 million investment in its extrusion facility located in Cressona, Pennsylvania. This endeavor aims to enhance the plant's recycling capabilities, encompassing remelt and extrusion billet casting, to produce aluminum products with a low carbon footprint. The Cressona project is expected to be in full operation by late 2024 and will augment the casting capacity of the facility by over 50,000 metric tons.
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High Purity Aluminum (HPA) Market Segment Analysis :
For the purpose of this report, Emergen Research has segmented the global high purity aluminum (HPA) market on the basis of type, technology, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2032)
4N High Purity Aluminum
5N High Purity Aluminum
6N High Purity Aluminum
Technology Outlook (Revenue, USD Billion; 2019-2032)
Hydrolysis
Hydrochloric Acid Leaching
Application Outlook (Revenue, USD Billion; 2019-2032)
Light Emitting Diode (LED) Lighting
Phosphor
Technical Ceramics
Lithium-ion (Li-Ion) Batteries
Semiconductor
Others
End-use Outlook (Revenue, USD Billion; 2019-2032)
Electronics & Semiconductors
Packaging
Automotive
Aerospace & Defense
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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