Global High Purity Alumina Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026


Posted July 9, 2021 by Prashil

The global High Purity Alumina Market was valued at USD 1.4 billion in 2018 and is expected to reach USD 4.3 billion in 2026, growing at a CAGR of 15.0% during the forecast period.

 
The global High Purity Alumina Market was valued at USD 1.4 billion in 2018 and is expected to reach USD 4.3 billion in 2026, growing at a CAGR of 15.0% during the forecast period.
High-purity aluminium oxide is commonly referred to as HPA. High purity alumina is a high-value, high-yield and highly-demanded product, as it is a critical ingredient for the production of synthetic sapphire. Synthetic sapphire is usually used in the manufacture of LED light substrates, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces optical windows and smartphone components. In the production of synthetic sapphire, there is no replacement for HPA.
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The growth of the high purity alumina market is primarily driven by the rising demand for high purity alumina from LED industries. Moreover, rising investment in end-use industries and the non-availability of substitutes of HPA also drives the growth of the global high purity alumina market. On the other hand, the high cost of production is creating a major hindrance to its market growth. However, high demand for high purity alumina in emerging economies and increasing applicability in the sapphire market is expected to create major growth opportunities during the forecast period.
High Purity Alumina Market Segmentation
By Purity Level 1. 4N
2. 5N
3. 6N

By Application 1. LED
2. Semiconductor
3. Phosphor
4. Sapphire
5. Others

By Region 1. North America (US and Canada)
2. Europe (UK, Germany, France and Rest of Europe)
3. Asia Pacific (China, Japan, India and Rest of Asia Pacific)
4. Latin America (Brazil, Mexico and Rest of Latin America)
5. Middle East & Africa (GCC and Rest of Middle East & Africa)


Based on the purity level, the 4N segment is expected to lead during the forecast period
Based on the purity level, the global high purity alumina market has been segmented into 4N, 5N, and 6N. The 4N segment is expected to lead and accounted for almost 55% market share in the global market in 2018. 4N grade alumina with a purity rate of 99.99% is the most commonly used product on the market due to lower production costs and easier availability of smelter grade alumina and low impurity of clay feedstock. 4N grade alumina is the most popular product in the market due to its properties like high mechanical strength and chemical resistance. The increased use of 4N grade in applications, including ultrafiltration and gas separation membranes, due to its enhanced chemical resistance and porous nature is expected to drive market growth over the forecast period.
The LED segment expected to grow at the fastest rate of 19.6% CAGR during the forecast period
Based on the application, the high purity alumina market has been segmented into LED, semiconductor, phosphor, sapphire, and others. The LED segment is expected to grow at the fastest rate of 19.6% CAGR during the forecast period. The segment is mainly driven by the emerging LED lightings market. LEDs are commonly used in traffic lights, LED-backlit LCDs, digital backlights and general lighting products. The introduction of strict government regulations on the manufacture and use of incandescent lights increased the adoption of LED lighting in both developed and developing countries, driving the demand of the high-purity alumina industry.
Asia-Pacific to dominate the high purity alumina market throughout the forecast period
Asia-Pacific accounted for nearly 34% share of the global high purity alumina market in 2018 and is expected to dominate the market throughout the forecast period followed by North America. Owing to the increase in domestic production of energy-efficient lightings like LEDs, the Asia Pacific is anticipated to lead the global market. The HPA market in China is estimated to have the fastest growth during the forecast period, due to a favorable economic environment and the need for technological advances in electronics products such as mobile phones and cameras.
Company Profiles and Competitive Intelligence:
The major players operating in the global high purity alumina market are Altech Chemicals Limited (Australia), Alcoa Inc. (New York), Orbite Technologies Inc. (Canada), Sumitomo Chemical Co., Ltd. (Japan), Baikowski (France), Nippon Light Metal Holdings Company, Ltd (Japan), Zibo Honghe Chemical Co. Ltd. (China), Sasol (South Africa), Xuan Cheng Jing Rui New Material Co. Ltd. (China), and Hebei Pengda Advanced Materials Technology Co., Ltd (China) among others.
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Last Updated July 9, 2021