From 2022 to 2031, High Purity Alumina Market Sales are Expected to Flourish at a CAGR of 15.1% | Transparency Market Research, Inc.
Emerging economies in Asia, Latin America, and Africa present untapped opportunities for high purity alumina manufacturers as these regions experience industrialization and urbanization
Wilmington, Delaware, United States, Sept. 22, 2023 (GLOBE NEWSWIRE) — The high purity alumina market was estimated to have acquired US$ 2.0 billion in 2021. It is anticipated to register a 15.1% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 8.2 billion.
The key element driving the market for high purity alumina is the rising demand for LEDs. The LED industry is a major consumer of HPA, as it is used in the production of sapphire substrates for LED lights. The demand for HPA in LED applications is on the rise, With the increasing adoption of energy-efficient lighting solutions.
The demand for high purity alumina is also being driven by growing electric vehicle (EV) market. HPA is essential for the production of lithium-ion batteries, which are widely used in electric vehicles. The expansion of the EV market is boosting the demand for HPA as it is a crucial component for battery separators.
HPA is used in the semiconductor industry for its exceptional properties, including high thermal conductivity and electrical insulation. The semiconductor market’s growth, driven by technologies like 5G, AI, and IoT, is bolstering the demand for HPA.
Sapphire glass, produced using HPA, is highly scratch-resistant and durable. It is used in various applications, including smartphones, camera lenses, and watch covers. The consumer electronics market’s growth is propelling HPA demand.
High purity alumina finds applications in medical devices and equipment, particularly in the production of orthopedic implants and dental prosthetics. The aging population and advancements in healthcare are driving growth in this sector.
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|Market Revenue||US$ 2.0 Bn|
|Estimated Value||US$ 8.2 Bn|
|Growth Rate – CAGR||15.1%|
|No. of Pages||271 Pages|
|Market Segmentation||By Grade, Application|
|Regions Covered||North America, Latin America, Europe, Asia Pacific, Middle East & Africa|
|Companies Covered||Sumitomo Chemical Co. Ltd., Sasol Ltd., Baikowski SAS, Nippon Light Metal Co. Ltd., HMR Co., Ltd., Dalian Hiland Photoelectric Material Co., Ltd., Hebei Hengbo New Material Technology Co. Ltd., Xuancheng Jing Rui New Material Co., Ltd., Polar Sapphire, Altech Chemicals Ltd.|
Key Findings of the Market Report
- By grade, the 4N segment held a share of nearly 64.0% of the market in 2021, attributed to the factors such as growing demand in semiconductor industry, LED lighting and displays, and solar cell manufacturing.
- Lithium-Ion battery separators, as well as medical and healthcare applications are the other factors that are expected to boost the segmental growth.
- Advancements in medical technology, including 3D printing of medical devices, create opportunities for HPA applications in the healthcare sector.
- The development of recycling methods for used sapphire wafers and other HPA products can contribute to a more sustainable and circular HPA market.
Market Trends for High Purity Alumina
- The renewable energy sector, including solar power, is adopting HPA for its use in photovoltaic cells. The trend is expected to gain momentum, as the world transitions to cleaner energy sources.
- Sustainability and eco-friendly practices are becoming more important. HPA’s recyclability and potential for green production methods align with these sustainability goals.
- The Asia-Pacific region, particularly China, is a major player in the HPA market. The region’s robust manufacturing, electronics, and automotive industries are driving HPA demand.
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Market for High Purity Alumina: Regional Outlook
Various reasons are propelling the growth of the high purity alumina market in different regions. These are:
- Asia Pacific is home to some of the world’s largest electronics and semiconductor manufacturing hubs, including China, South Korea, and Taiwan. The regional countries have a substantial demand for HPA in the production of integrated circuits, LEDs, and other semiconductor components.
- The demand for HPA for lithium-ion battery separators in EVs is on the rise, as the Asia Pacific region leads in the production and adoption of electric vehicles. Countries like China are aggressively promoting electric mobility.
- The aerospace and defense sectors in the United States require HPA for its exceptional properties, such as high thermal conductivity and resistance to harsh environments. It is used in components like missile guidance systems and radomes.
- HPA is used in various medical devices and equipment due to its biocompatibility and resistance to chemicals. The region’s robust healthcare sector drives demand for HPA.
Global High Purity Alumina Market: Key Players
A few firms hold the majority of the market share in the high purity alumina industry. The market’s major companies are concentrating on diversifying their product lines.
The big players’ primary strategy includes mergers and acquisitions. In order to acquire a competitive edge in the industry, market competitors are concentrating on offering high-quality services.
The following companies are well-known participants in the global high purity alumina market:
- Sumitomo Chemical Co. Ltd.
- Sasol Ltd.
- Baikowski SAS
- Nippon Light Metal Co. Ltd.
- HMR Co., Ltd.
- Dalian Hiland Photoelectric Material Co., Ltd.
- Hebei Hengbo New Material Technology Co. Ltd.
- Xuancheng Jing Rui New Material Co., Ltd.
- Polar Sapphire
- Altech Chemicals Ltd.
Key developments in the global high purity alumina market are:
- In 2023, Sumitomo Chemical announced plans to increase its annual HPA production capacity from 10,000 to 20,000 tons by 2025.
- In the same year, Sasol announced plans to build a new HPA plant in South Africa with an annual production capacity of 15,000 tons.
- In 2022, FYI Resources and Alcoa signed a memorandum of understanding to explore the joint development of FYI’s HPA project in Australia.
- In 2022, Pure Alumina acquired Polar Sapphire, a Canadian HPA company, for approximately $19.18 million.
Partial Table of Content (ToC):
1. Executive Summary
1.1. High Purity Alumina Market Snapshot
1.2. Current Market and Future Potential
2. Market Overview
2.1. Market Segmentation
2.2. Market Trends
2.3. Market Dynamics
2.4. Porter’s Five Forces Analysis
2.5. Regulatory Analysis
2.6. Value Chain Analysis
2.6.1. List of Raw Material Providers
2.6.2. List of High Purity Alumina Manufacturers
2.6.3. List of Dealers/Distributors
2.6.4. List of Potential Customer
3. COVID-19 Impact Analysis
4. Global High Purity Alumina Market Analysis and Forecast, by Grade, 2022–2031
4.1. Introduction and Definitions
4.2. Global High Purity Alumina Market Volume (Kilo Tons) and Value (US$ Bn) Forecast, by Grade, 2022–2031
4.3. Global High Purity Alumina Market Attractiveness, by Grade
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Global High Purity Alumina Market Segmentation
- Li-ion batteries
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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