High Purity Alumina Market Overview:-
In addition, the global High Purity Alumina Market is expected to boost at a CAGR of 19.4%, with a value of USD 9,990.2 million over the estimated forecasting year of 2023-2030.
The high purity alumina, or aluminum oxide, is processed as non-metallurgical alumina. It is usually manufactured through the hydrolysis of aluminum oxide, hydrochloric acid leaching, underwater spark discharge with aluminum and vapor-phase oxidation processes. It can be classified into 4N, 5N and 6N, depending upon the purity level and exhibits a high melting point, corrosion resistance and thermal stability. As a result, high purity alumina finds extensive applications in manufacturing artificial sapphire substrates, light-emitting diodes, semiconductors, lithium-ion batteries, smart electronic devices, ceramics, photovoltaic cells and artificial gemstones.
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The significant growth in the electronics industry represents one of the key factors creating a positive outlook for the market. The high purity alumina market is used to fabricate semiconductors, which are further utilized in assembling personal computers, tablets, gaming consoles, televisions and servers. Furthermore, the increasing product demand for LED light manufacturing also contributes to market growth. Due to rising environmental consciousness, there is a shift in consumer preference from traditionally used incandescent bulbs to energy-efficient LED variants. The high purity alumina is also used as a coating on lithium-ion battery separators used in electronic vehicles to optimize efficiency and minimize environmental emissions. Additionally, various product innovations, such as the development of ready-to-use medical bio-ceramics for orthopedic and dental implants, are augmenting the market growth. Other factors, including the widespread utilization of high purity alumina for the production of sapphire with minimal flaws in the crystal lattice, along with extensive research and development activities, are anticipated to drive the market further.
Companies Profiled
• 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
Market Segmentation:
As per the market's latest report, the global high purity alumina market is segmented into three sections such as type, application and geographical basis. With the type part, the global market is divided into three sections 4N, 5N, and 6N. According to the application part, the entire high purity alumina market is classified into four sections: LED, semiconductor, phosphor, and others. According to the geographical section, the global market is divided into five parts: Asia-Pacific, Europe, North America, South America, and the Middle East Africa.
Regional Analysis:
Asia-Pacific dominated and is further expected to dominate through the forecast period. With accelerating usage of LED-based lighting and increasing application in Li-ion batteries in countries such as China, India, and South Korea, the consumption of high-purity alumina is increasing in the region. China emerged as one of the leading producers and consumers of lighting products globally. Some lighting products commonly used in China include light-emitting diodes, electrode less discharge lamps, compact fluorescent lamps and organic light-emitting diodes. Furthermore, the country has been focusing on the promotion of electric vehicles. This, in turn, is likely to augment the demand for lithium-ion batteries in the near future. With the growing demand from various applications in different countries, the demand for high-purity alumina is projected to increase at a high rate during the forecast period.
Industrial News:
The global High Purity Alumina Market Demand is consolidated, with intense competition among the top players to increase their share in the market. The top seven players constitute 63% of the global market. China accounts for the major production and consumption in the global market, with most of the major production plants concentrated in the country.
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