High Purity Alumina Market To Witness Huge Growth and Revenue Acceleration, Outlook, Insights forecast 2026
High Purity
Alumina Market: Key Highlights
·
The high purity
alumina market was valued at ~ US$ 1.1 Bn in 2017, and
is anticipated to expand at a robust CAGR of ~15% during the
forecast period.
·
Expansion of the high purity alumina market is
primarily driven by its rising demand from manufacturers of LEDs, lithium-ion
batteries, and related products. The demand for LED products has increased
significantly in developing economies such as China, Japan, Taiwan, and South
Korea, due to increasing regulations pertaining to the use of incandescent
bulbs.
·
HPA is used in the coating of lithium-ion battery
separators, found in electric vehicles and portable electronics. The rising use
of sapphire glass by smartphone manufacturers is adding to demand for HPA.
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Key Drivers of High
Purity Alumina Market
·
Currently, LED bulbs reduce electricity consumption
by 85% as compared to incandescent light bulbs, and by 40% as
compared to fluorescent lights. With developments in technology, LEDs are
expected to save electricity by 90% and 50% as
compared to incandescent light bulbs and fluorescent lights, respectively,
by 2020.
·
LEDs last 50 times longer than incandescent lights,
and three to seven times longer than fluorescents. In addition, LED bulbs
provide superior light quality than compact fluorescent lights (CFLs).
·
Production costs of LEDs and related products have
declined over the recent past. Furthermore, this trend is expected to continue
over the forecast period. Thus, steady rise in the demand for LEDs and the
corresponding increase in LED production are expected to drive the HPA market
during the forecast period.
·
Despite their energy efficiency, LEDs have been
used exclusively in electronic devices (screens for cell phones, computers, and
TVs). Technological advances have progressively reduced manufacturing costs.
Coupled with a regulatory focus on energy efficiency, these reductions are
opening up new opportunities for LEDs to enter the lighting sector. With a
further decline in production costs expected and rise in environmental
concerns, LED lighting is expected to be a lucrative area for the HPA market in
the coming years.
Asia Pacific a
Prominent High Purity Alumina Market
·
In terms of revenue, Asia Pacific constituted a
significant share of the high purity alumina market in 2017.
Expansion in automotive and LED lighting industries is estimated to provide
lucrative opportunities to the HPA market during the forecast period.
·
North America recorded significant sales of high
purity alumina in 2017. This is primarily due to the rise in
research activities in higher grades of high purity alumina by various leading
companies in the region. Additionally, increase in the number of stringent
regulations on carbon and dust emission is compelling manufacturers to opt for
high purity alumina-based coatings with high hardness and wear resistance,
typically in lithium-batteries separators.
·
The high purity alumina market in Europe is
expected to expand at a moderate pace during the forecast period. The rising
demand for energy-efficient LEDs and increasing mergers and capacity expansion
activities among LED manufacturers in Germany, the U.K., and France are
expected to drive HPA sales during the forecast period.
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Share of Prominent
HPA Market Players
·
The high purity alumina market is dominated by a
few major players, which generates intense competition. Key producers of high
purity alumina depict a medium to low level of forward integration. This
provides a distinct competitive advantage to market leaders in the HPA market.
The entry of several small- to medium-scale manufacturers has intensified the
competition in the high purity alumina market.
·
Companies such as Hebei Heng Bo New
Material Technology Co. Ltd., Zibo Xinfumeng Chemicals Co., Ltd., and Xuan Chen
Jing Rui New Material Co., Ltd. are leading manufacturers in the HPA market
in China.
·
Sumitomo Chemical Co. Ltd., Nippon Light Metal Co.
Ltd., and HMR Co. Ltd. have a wide presence in Japan and South Korea. Baikowski
SAS and Sasol Ltd. are the major players operating in high purity
alumina market in the U.S. and Canada. Polar Sapphire Ltd. has widespread
operations across Canada.
Global High
Purity Alumina Market: Research Scope
The high purity alumina market has been segmented
into grade, application, and region.
High Purity Alumina
Market by Grade
·
4N
·
5N
·
6N
High Purity Alumina
Market by Application
·
LEDs
·
Semiconductors
·
Phosphor
·
Li-ion Batteries
·
Sapphire
·
Others
4N Grade HPA High on Demand
The
various grades of high purity alumina covered in the report mainly include 4N,
5N, and 6N. Of these, the 4N accounted for the major share of nearly 64% of the
sales of products in the high purity alumina market. The vast uptake of 4N
products can be attributed to the rise in customized demand for the chemical
for the manufacturing of LEDs and the proliferating demand for lithium-ion batteries among electronics manufacturers. The steady demand for
scratch-resistant glasses of variety of consumer electronics and gadgets is a
key trend bolstering the uptake of 4N grade. The 4N grade has purity of purity
level of 99.99%.
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On
the other hand, the demand for 5N and 6N grades of high purity alumina are
projected to rise at promising pace during the forecast period. The 5N grade
segment is estimated to garner a CAGR of approximately 18% during the forecast
period of 2018 – 2026.
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