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High Purity Alumina Market to Witness a Pronounce Growth

High purity alumina market was valued at $1.1 billion in 2018, and is projected to reach $5.1 billion by 2026, growing at a CAGR of 21.7% from 2019 to 2026.

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High Purity Alumina Market to Witness a Pronounce Growth

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  1. High Purity Alumina Market

  2. The high purity alumina market is heading toward growth expansion phase over the coming years. This is due to growth in Asia-Pacific owing to rising demand for technologically advanced consumer electronics in China that held a dominant market share in 2018. Along with China, India also witnessed a considerable growth due to adoption of government policies to encourage LED industry for sustainable energy consumption. These factors are anticipated to boost the growth of the high purity alumina market during the forecast period. Get Sample Report

  3. High Purity Alumina Market was valued at $1.1 billion in 2018, and is projected to reach $5.1 billion by 2026, growing at a CAGR of 21.7% from 2019 to 2026. The demand for high-purity alumina has gained traction, and is expected to grow at a CAGR of 22.0% in terms of volume during the analysis period, owing to increase in demand from applications such as LED bulbs, electronic displays, automotive, and medical. This trend is anticipated to continue with surge in adoption of HPA by end users and emerging technological developments in the electronics industry.

  4. Increase in penetration of LEDs in the lighting market and rise in applications of high-purity alumina in smartphones, smartwatches, and tablets are the major factors propelling the growth of the global high purity alumina market. However, higher cost of production is expected to negatively impact the global high purity alumina market trend in the foreseeable future. Based on type, the high purity alumina market size is bifurcated into 4N, 5N and 6N high purity alumina. The 4N category of HPA is alumina with the purity level of 99.99%. The 4N category has the lowest price compared with other types of HPA. The 5N category of HPA has a purity level of 99.999%.

  5. Key Finding of Thehigh Purity Alumina Market: • The North America high purity alumina market is projected to grow at a highest CAGR of nearly 22.7%, in terms of revenue, during the forecast period. • The 5N of by type segment of high purity alumina market is anticipated to witness moderate growth rate of 22.3%, in terms of revenue, during the forecast period. • Asia-Pacific dominated the high purity alumina market with a revenue share of over 69.7% in 2018.

  6. The key players operating in the global high purity alumina market include Orbite Technologies Inc., Sumitomo Chemical Co., Ltd., Baikowski SAS, Alcoa Inc., Nippon Light Metal Holdings Company, Ltd., Altech Chemicals Ltd., Zibo Honghe Chemical Co. Ltd., Sasol, and Xuan Cheng Jing Rui New Material Co. Ltd., and Hebei Pengda Advanced Materials Technology Co., Ltd..

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