With the growing consumption of LED lights and the increasing popularity of Electric vehicles, the demand for high purity alumina has increased significantly. Rising demand from the automobile and light manufacturing industry has driven the high purity alumina producers to invest in their research and development facilities. A healthy competition among the producers has helped channelize the focus on the development of the product and improve the portfolio. The market is expected to grow significantly in the forecasted period.
High purity alumina possesses several important characteristics like corrosion resistance, high brightness and high temperature withstanding ability, leading its usability in light-emitting diodes (LEDs) and artificial sapphire glass production. Properties such as durability, reliability and low heat radiation have boosted its use in the LED bulb production. The rise in demand from the automobile industry and electric car battery manufacturing facilities are driving the demand in many regions. Growing popularity is showing the potential of the market in attaining a CAGR growth of 21.7% during the forecast period of 2019-2026.
The global high purity alumina market is segmented by the type, technology, and application for a better understanding of the market.
By type, the market includes 4N high purity alumina, 5N high purity alumina, and 6N high purity alumina.
By technology, the market is often identified by the production method, which involves hydrolysis and hydrochloric acid leaching process (HCL).
By application, the market focuses the studies related to LED bulbs, semiconductor substrates, Li-ion batteries, optical lenses, bio-medical devices, and many others.
Positive responses from the automobile and light manufacturing industry, have contributed significantly to the growth of the high purity alumina market and helping in earning revenues for the market.
Consumption of high purity alumina in North America, Europe, and the Asia Pacific market is growing rapidly. Infrastructural development in LAMEA would also contribute to the growth.
Demand from the electric vehicle market is growing significantly market in North American and European markets. Asia Pacific market is dominated by the demand from the light manufacturing market. Various government initiatives aiming to promote the use of the LED bulb as a greener alternative, is driving the market growth.
High brightness and durability are driving the growth of LED bulbs in many industries. However, advancement in different technological sector is also driving the growth of the high purity alumina market.
Competition is increasing in the global high purity alumina market, as more and more operators are entering the market to take advantage of it. This includes large industries as well as startups. Increasing competition is helping into more investment in research and development, which in turn helps in developing the product portfolio.Players with potential to impact the market are Baikowski SAS, Orbite Technologies Inc., Sumitomo Chemical Co., Ltd., Altech Chemicals Ltd., Alcoa Inc., Nippon Light Metal Holdings Company, Ltd., Sasol, and Xuan Cheng Jing Rui New Material Co. Ltd., Zibo Honghe Chemical Co. Ltd., and Hebei Pengda Advanced Materials Technology Co., Ltd.
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