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High Purity Alumina Market, Industry Research, Competitive Industry Share & Forecast, 2016 – 2024

High Purity Alumina Market, Industry Research, Competitive

Hight Purity Alumina (HPA) Market size is booming and is likely to generate revenue of more than USD 6 billion and henceforth projecting a CAGR of over 17% by 2024.

HPA is an expensive product form of Aluminum Oxide (Al2O3) and is widely used in non-metallurgical applications across globe. The product is used as a base to produce sapphire substrates which are widely applicable in industry. It is used to manufacture a wide range of products such as plasma display screens, scratch resistant sapphire glasses for smart watch and smart phones, LED lights, lithium ion battery separators, sodium lamps, semiconductors, optical lenses, hybrid cars, electric vehicles and others. The value-added features such as durability, reliability, brightness, low radiated heat led to rising adoption of LED products initiating a positive shift in the market.

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High purity alumina (HPA) is divided into various types pf products including 4N, 5N, and 6N. They differ from one another based on purity level with 4N having lesser percentage of Al2O3 compared to 5N and 6N. 4N is most prominent and has captured market share of around 54% by volume in the market. It usually seeks its demand from electronic display and LED bulbs. Due to strict regulation norms for using energy conserving light sources has led to shift in market giving rise to 4N market size. 5N held market share of around 30% whereas remaining is held by 6N.

The industry has widespread applications in LEDs, semiconductor, phosphor, sapphire and other markets. LEDs market is prominent with a market share of around 55% and is likely to attain 60% of the overall market by 2024 due to rising usage of LED based equipment across globe. Phosphor is utilized for protective coating on plasma display screen. The market trend indicates a shift from usage of traditional display screen to plasma display screen henceforth increasing product demand globally. Semiconductor are used in manufacturing electric vehicles and hybrid cars which are encouraged to reduce air pollution henceforth increasing product demand across the globe.

Browse complete summary of this report @ https://www.gminsights.com/industry-analysis/high-purity-alumina-hpa-market

The industry is segmented into various technology including hydrochloric acid (HCL) leaching and hydrolysis. The hydrolysis method is the most viable method to synthesize high purity alumina (HPA). On adding alcohol to aluminum metal, high purity aluminum alkoxide is produced which further synthesizes alumina. Later, the final product is obtained by Calcination. The added advantage of hydrolysis is reduced operational cost as it recovers the acid which can be re-used. However, HCL leaching process is not commercially viable yet, but has great potential to be implemented in future with an added benefit to lower production cost.

Regionally, Asia Pacific market of the product holds a prominent position both in terms of value and volume making it extremely competitive by holding market share of over 70%. Moreover, China accounts for market size of over 45% by volume in Asia Pacific region. This is due to easy access to cheap labor and raw material for manufacturing which is a driving force for consistently growing market size in High Purity Alumina (HPA) market.

The global key players involved in the market are Altech Chemicals Limited, Coorstek Inc., Orbite Technologies Inc., Baikowski SAS, Sasol Germany GmbH, Polar Sapphire Limited, Sumitomo Chemical Co Limited, Nippon Light Metal Co Limited, Alcoa, Norso Hydro, Rio Tinto Alcan, RUSAL and Zibo Xinfumeng Chemicals.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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