Global High Purity Alumina Market to surpass USD 11.2 billion by 2030 from USD 1.57 billion in 2020 at a CAGR of 21.70% in the coming years, i.e., 2021-30. Global High Purity Alumina market is estimated to grow due to booming LED lights and synthetic sapphire demand, an upsurge in the production of electric vehicles, and recent developments in the automotive industry. Furthermore, the new potential application of aluminum as a substitute for copper in the power industry and many other trends is likely to propel the high purity alumina (HPA) market growth.
High purity alumina (HPA) is a high-value, white, granular chemical product manufactured by treating aluminum with certain chemicals or by use of another aluminous feedstock. High purity alumina is a pure form of aluminum oxide (Al2O3) characterized by purity levels ranging approximately 99.99%. Alkoxide process, thermal decomposition process, choline hydrolysis process, and modified Bayer process are some of the commonly used processes for high purity alumina. High purity alumina possesses properties including high brightness, corrosion resistance, and endurance against high temperatures. High purity alumina is used to produce sapphire substrate in applications such as LED lights and artificial sapphire glass. As there is no substitute for HPA in the manufacture of synthetic sapphire, it is a critical and highly demanded product. HPA is widely used as a coating on the separator sheets in lithium-ion batteries.
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Global High Purity Alumina Market: Key Players
- Alcoa Inc
- Sumitomo Chemical Co., Ltd,
- Nippon Light Metal Holdings Co., Ltd,
- Sasol Limited,
- Xuancheng Jingrui New Materials Co., Ltd,
- Altech Chemicals,
- Hebei Pengda Advanced Materials Technology,
- PSB Industries SA.
- Orbite Technologies Inc
- Norsk Hydro Asa
- Other Prominent Players
Global High Purity Alumina Market: Segments
LED segment to grow with the highest CAGR during 2021-30
Global High Purity Alumina Market is segmented by application into LED, semiconductors, phosphorus, electronic display, sapphire, and others. The LED segment held the largest market share of XX.X% in the year 2020. LED lightings are durable and have a long lifespan which is increasing their adoption rate among consumers or various end-user industries. This growing usage of LED is estimated to boost the market in the coming years.
4N Segment to grow with the highest CAGR during 2021-30
Global High Purity Alumina market is distributed by Purity Level into 4N, 5N, and 6N. 4N Segment held the largest market share of XX.X% in the year 2020. 4N high purity alumina is used in gas separation and ultra-filtration process owing to high chemical resistance, porous nature, and mechanical strength. They also find applications in smartphones and portable tablet devices.
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Increasing Demand for LED Over Conventional Bulbs
High purity alumina is widely used in the production of synthetic sapphire that is used as a substrate in LED preparation. Sapphire is the preferred ingredient in the manufacturing of LED, as it was much cheaper than other substrates, such as Silicon Carbide, and Gallium Nitride. The demand for LEDs is increasing rapidly owing to properties such as high efficiency, better brightness, and less electric consumption. Furthermore, increasing environmental awareness of the public and growing demand for smart illumination are expected to boost the demand for high purity alumina in the coming years.
High Production cost
High purity alumina requires high production costs due to which the cost of end products is high and profitability is low. The higher cost of production in some of the end-use segments is estimated to hamper the market growth in the coming years.
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Global High Purity Alumina market report also contains analysis on:
High Purity Alumina Market Segments:
- By Purity Level
- By Technology
- HCL Based
- By Application
- Electronic Display
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