Press release
High Purity Alumina Market is Forecasted to Reach US$ 5.68 Billion in 2028, Says Stratview Research
The global high purity alumina market is projected to witness a growth rate of 14% annually from 2023 to 2028, with an anticipated size of US$ 5.68 billion by 2028, according to an analysis by Stratview Research.Stratview Research, a global market research firm has launched a report on the global high purity alumina market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2038/High-Purity-Alumina-(HPA)-Market.html#form
Report Highlights:
Market Size in 2028: US$ 5.68 billion
Growth (CAGR): 14% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the High Purity Alumina Market:
The global high purity alumina market is segmented based on product type, application type, and region.
Based on product type - The high purity alumina market is segmented by product into 4N, 5N, and 6N. The 4N product segment dominated the market in 2022 with a share of over 35%. This is due to the widespread use of 4N HPA in LEDs and as a battery separator for lithium-ion batteries. The growth of the lighting and electric vehicle (EV) industries is expected to drive the high purity alumina market during the assessment period.
Based on application type - The market has been divided into LEDs, semiconductors, phosphors, and Li-ion batteries. The LEDs application segment accounted for the largest market share in 2022 and this segment is growing at a CAGR of 12.8% during the forecast period. The segment growth can be attributed to the widespread demand for LEDs across geographies.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/2038/High-Purity-Alumina-(HPA)-Market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific market accounted for the largest share in 2022 and is expected to grow at a significant CAGR during the review period. This growth outlook is majorly attributed to the following-
• The regional market growth can be attributed to the presence of a strong electrical & electronics industry and expanding electric vehicle production in China.
• The market growth in the North American region is expected to grow at a considerable CAGR during the review on account of the high product adoption rate in the electronics industry.
High Purity Alumina Market Drivers:
Some of the key drivers listed in the report are given below.
• Widespread product usage across various applications including LEDS and electronics among others.
• Growing demand for lithium-ion batteries in electric vehicles is expected to add to the market growth substantially.
• Rising product demand in developing countries is likely to create lucrative opportunities for the players operating in the global high purity alumina market.
Top Companies in the High Purity Alumina Market:
Stratview Research has identified the following companies as the top market players.
• Sumitomo Chemical Co., Ltd. (Japan)
• Sasol Limited (South Africa)
• Baikowski (France)
• Hebei Hengbo New Material Technology Co., Ltd. (China)
• Nippon Light Metal Holdings Company, Ltd. (Japan)
• Altech Chemicals Limited (Australia)
• Polar Sapphire Ltd. (Canada)
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the High Purity Alumina Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Activated Alumina Market: https://www.stratviewresearch.com/2873/activated-alumina-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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