According to the report, the global high purity alumina industry garnered $1.1 billion in 2018, and is estimated to reach $5.1 billion in 2026, growing at a CAGR of 21.7% from 2019 to 2026. The report also provides an in-depth analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and wavering market trends.
Rise in adoption of LED bulbs over traditional bulbs and surge in investment in end-use industries drive the growth of the global high purity alumina market. On the other hand, high cost of production impedes the growth to some extent. However, rise in demand from the emerging economies is expected to create a number of lucrative opportunities in the near future.
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Based on product type, the 4N high purity alumina (HPA) segment contributed to more than half of the global high purity alumina market share in 2018. This is due to leading companies in this market are spending more on R&D to offer product customization as per the requirements of the application areas and government support, leading to growing adoption of LEDs. Moreover, it costs less compared with other types of HPA which boosted the growth of the segment. On the other hand, 5N high purity alumina segment is projected to grow at the fastest CAGR of 22.3% throughout the study period. This is due to its excellent electrical insulating properties and high heat conductivity, suitability for lithium-ion batteries that are used in electric vehicles, and the growth of hybrid and electric cars in the market.
Based on application, the LED bulb segment held the lion's share in 2018, garnering nearly half of the global high purity alumina market. This is due to the government regulations on production, import, and sale of incandescent lights, and transformation in shift from traditional incandescent light bulbs to energy-efficient LED lighting systems. At the same time, the Li-ion Batteries segment would cite the fastest CAGR of 26.6% by 2026. This is due to rise in demand for electric vehicles globally to curb the carbon emission is likely to increase the demand for Li-ion batteries.
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Based on geography, the North America region would cite the fastest CAGR of 22.7% till 2026. This is due to the rise in energy-saving measures in the region, with legislative support and surge in demand for electric vehicles along with technological advancements in the region. However, the market across Asia-Pacific accounted for more than two-thirds of the global high purity alumina market revenue in 2018 and is projected to lead the trail by 2026. This is due to the increase in demand for cost-effective and long-lasting lights and the government imposed stringent regulations on production, import, and sale of incandescent lights.
Key Benefits For Stakeholders
- The global high purity alumina market analysis covers in-depth information of major industry participants.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides an in-depth analysis of the global high purity alumina market forecast for the period 2020–2026.
- The report outlines the current global high purity alumina market trends and future estimations of the global high purity alumina market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and global high purity alumina market opportunity and their detailed impact analysis is elucidated in the study.
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Leading market players-
- Hebei Pengda Advanced Materials Technology Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- Orbite Technologies Inc.
- Nippon Light Metal Holdings Company, Ltd.
- Zibo Honghe Chemical Co. Ltd.
- Baikowski SAS
- Altech Chemicals Ltd
- Sasol, and Xuan Cheng Jing Rui New Material Co. Ltd.
- Alcoa Inc
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High Purity Alumina Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Altech Chemicals Ltd, Zibo Honghe Chemical Co., Ltd, CoorsTek Inc., Almatis, Inc., Sumitomo Chemical Co., Ltd, FYI Resources Limited, Baikowski, Nippon Light Metal Holdings Co., Ltd, Polar Sapphire Ltd., and Pure Alumina.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global High Purity Alumina Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/high-purity-alumina-market/download-sampleMarket SegmentationThe broad High Purity Alumina market has been sub-grouped into the Application ,Product, and region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
The high-purity alumina market promises robust growth during 2019-2027 as demand for electric vehicles and production of light emitting diode surges.
High purity alumina finds robust application in sapphire ingots, which is expected to remain a key driver of the market in the near future.Key players in the market including Altech Chemicals Ltd., Nippon Light Metal Co. Ltd., Zibo Honghe Chemical Co. Ltd., Sumitomo Chemical Co., and Xuan Cheng Jing Rui New Material Co., Ltd, are engaging in new investments and mergers to open up new possibilities for growth.Key Application in Lithium Batteries to Remain Most Lucrative Growth ProspectLithium-ion batteries are composed of negative electrodes, and positive electrodes.
These contain a separator which keeps these two poles apart for its smooth operations.
The battery operator make up for as much as 40% of the cost for the batteries.
The growing demand for high-purity alumina for lithium ion-batteries and their various benefits over alternatives are expected to drive significant growth.
Their myriad of benefits like long life cycle, chemical stability, and high thermal stability are ideal for applications such as electric vehicles.
