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High Purity Alumina Market: Segmented by Product Outlook (4N, 5N, 6N); By Application Outlook (LED, Semiconductor, Phosphor, Sapphire, Lithium-ion battery, Others) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
170+ Pages Research Report High Purity Alumina market to surpass USD 14.69 billion by 2030 from USD 2.58 billion in 2020 at a CAGR of 18.99% in the coming years, i.e., 2021-30.
High purity alumina (HPA) is a type of aluminum oxide with a high purity (Al2O3). High Purity Alumina is a crucial component used in the manufacturing of synthetic sapphire. It is a high-value, high-margin, and high-demand commodity. Synthetic sapphire is used to make substrates for LED lights, semiconductor wafers for the electronics industry, and scratch-resistant sapphire glass for wristwatch faces, optical windows, and smartphone components. In the production of synthetic sapphire, there is no substitute for HPA. HPA is increasingly being utilized as a separator sheet coating in lithium-ion batteries.
High Purity Alumina market is expected to project a notable CAGR of 18.99% in 2030
The falling prices of LEDs, rising consumer awareness of its cost-effectiveness and eco-friendly aspect, and expanding use in the automotive sector for applications like as adaptive driving are all key factors driving the market growth. Over the projection period, the expansion of the LED market is expected to have a beneficial impact on HPA consumption.
segment to grow with the highest CAGR during 2020-30
High Purity Alumina market is segmented by Products 4N, 5N, 6N. Among these,, the 4N category dominated the market in 2020. LED bulbs and electrical displays are the most popular uses for 4N HPA. Leading firms in this market are increasing their R&D expenditures in order to provide product customization to meet the needs of certain application areas. During the forecast period, the market for 4N HPA is projected to be driven by government support, which will lead to increased use of LEDs and lower costs than other types of HPA.
LED segment to grow with the highest CAGR during 2020-30
High Purity Alumina market is segmented by Application into LED, Semiconductor, Phosphor, Sapphire, Lithium-ion battery, Others. Among these,, the LED category had the highest revenue share in 2020. In comparison to traditional incandescent bulbs, LED bulbs have seen a substantial increase in demand throughout the globe. The market penetration of LEDs is fueled by the implementation of stringent laws to deploy energy-efficient lights all over the globe. Moreover, a government initiative to encourage people to adopt LED lights to save energy is expected to raise the demand for LED bulbs.
Increasing demand of HPA for electric vehicles
An important driver for the high purity alumina industry is the rising manufacturing of electric vehicles (EVs). The demand for lithium-ion batteries is rising as the number of electric vehicles (EVs) grows. As HPA is used to coat lithium-ion battery separators, this has resulted in rapid HPA consumption.
Increasing demand in Developing nations
An important driver for the high purity alumina industry is the rising manufacturing of electric vehicles (EVs). The demand for lithium-ion batteries is rising as the number of electric vehicles (EVs) grows. As HPA is used to coat lithium-ion battery separators, this has resulted in rapid HPA consumption.
High cost and restriction
The global high purity alumina market may be hampered by rising HPA prices and strict government regulations on the extraction of "Red Mud”.
Sumitomo Chemical Co. Ltd.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global High Purity Alumina market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East,, and Africa Due to the growth of markets such as China and India, Asia-Pacific accounted for a significant market share in 2019. The presence of established HPA players in the region, as well as increased demand for HPA from the automotive and electronics sectors, are likely to boost HPA demand in the region. Furthermore, the government's strict regulations on the manufacturing, import, and sale of incandescent lights have fueled the rise of the smart lighting sector, which makes LED bulbs, boosting demand for HPA across the area.
Global High Purity Alumina market is further segmented by region into:
High Purity Alumina Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 3.07 billion |
| Revenue forecast in 2030 | USD 14.69 billion |
| Growth Rate | CAGR of 18.99% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD billion and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, Application and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
| Key companies profiled | Sumitomo Chemical Co. Ltd., Nippon Light Metal Holdings Co. Ltd., Altech Chemicals Ltd., Baikowski, Pure Alumina, Zibo Honghe Chemical Co. Ltd., AEM Canada, Baikowski SAS, Alcoa Inc., Norsk Hydro ASA and Other Prominent Players. |
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