Press release
High Purity Alumina Market Exceeds USD 5,816.2 Million & CAGR of 18.56% by 2022
Global High Purity Alumina Market – OverviewThe Global High Purity Alumina Market is estimated to cross USD 5,816.2 Million by 2022 and to grow over the CAGR of more than 18.56 % during the forecast period - 2016 to 2022, indicates the Study report published by Market Research Future
The global High Purity Alumina market has experienced significant growth in 2014 and it is being projected that the global market will be moderately driven during the forecast period.
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High Purity Alumina is particularly used in manufacturing of LED products and semiconductors which are largely used in the industries such as automobile, electrical & electronics, aerospace and others. LED segment has seen a growth of USD 977.6 million in 2015. The major factor that drives LED segment as the largest revenue market is its superior property like high wear resistance, long life span, low radiated heat and reliability, enlightens us the team Research Analyst while commenting upon this deep diving Market study report presented through more than 100 market data tables and figures spread in 107 numbers of pages of the project report.
Global High Purity Alumina Market - Segment
Widely used in the range of hi-tech applications, the High Purity Alumina’s Global Market is segmented based on 3 Key Dynamics - Products, Application and region for forecasted period.
• Segmentation based on Product Type : Comprising 4N - 99.99% Purity and 0.01% impurity, 5N- 99.999% Purity and 0.001% impurity, 6N- 99.9999% Purity and 0.0001% impurity.
• Segmentation based on Application : Comprising LED, Semiconductors, Phosphor, others
• Segmentation based on Regions : Comprising Geographical Regions
Global High Purity Alumina Market - Key Player
The key players that drive the Global High Purity Alumina market are Alcoa Inc., Sumitomo Chemical Co. Ltd., Nippon Light Metal Holdings Co. Ltd., Zibo Xinfumeng Chemicals Co. Ltd., Sasol Limited, Other prominent players include PSB Industries SA, Xuancheng Jingrui New Materials Co. Ltd, Altech Chemicals Limited, Hebei Pengda Advanced Materials Technology Co. Ltd., and others.
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Global High Purity Alumina Market – Synopsis & Scenario:
The need for High Purity Alumina (HPA) is gradually rising owing to factors such as, growing demand Of LED lightings coupled with decreasing LED prices, growing demand of lithium ion batteries due to increased use of electric vehicles, increasing demand in smartphone application among others.
As per the study report, LED products have high life span, durability and reliability resulting in to LED being LED Segment accounting for a higher adoption rate and a high market share of 54%. This is also expected to further boost the market during forecasted period. The segment is anticipated to retain its dominance over the forecast period accounting for share of 58% in 2022.
High Purity Alumina Market Regional Analysis:
“Asia-Pacific dominates the market during the forecast period”
Geographically, APAC region dominates these HPA market both in terms of volume and value and is expected to grow significantly at a CAGR of 20.75 % by 2022. The Asia Pacific region offers huge growth potential for high purity alumina market accounting for $4,311.8 million by 2022 owing to the presence of large number of producers, cheap labor cost and growing application segment.
China is major revenue generating country due to rapid industrialization, low cost of raw material and labor and high manufacturing of LED products. Asia-Pacific has accounted the largest market share followed by North America and Europe.
North America, Europe accounts for second and third market share in this segment.
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High Purity Alumina Industry
Abstract:
High Purity Alumina report is in-depth investigation for global market.
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