The global market for High Purity Alumina (HPA) is estimated value at USD 5,816.2 MN by 2022 with a CAGR over 8.56 % during the forecast period (2016 to 2022), indicates the study report published by Market Research Future (MRFR). The Global HPA Market had experienced a significant growth in the year, 2014 and it is being projected that the market will demonstrate moderate developments over the assessment period.
High Purity Alumina is particularly used in the manufacturing of LED products and semiconductors which are largely used in industries such as the automobile, electrical & electronics, and aerospace among others. The strong growth in demand for lithium-ion battery separator coating is a key driving force behind the market growth.
Simultaneously, factors such as the increasing demand for high power and high capacity batteries alongside the proliferating demand for smart devices and other consumer electronics, and the market penetration of smart connected devices and wearables acts as a tailwind for the market growth of HPA.
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Industry/ Innovation/ Related News:
October 16, 2018 – Altech Chemicals Limited (Australia), one of the leading global suppliers of high purity alumina (HPA) announced the receiving of the patent for its unique high purity alumina production process involving kaolin (aluminous clay). Importantly, the grant of the patent also acknowledges that Altech’s process is unique. Altech is now in a strong position to defend its intellectual property rights.
Global High Purity Alumina Market - Segment
MRFR has segmented its analysis into three key dynamics for an easy grasp;
By Types: Resins, Adhesives, Pigments, and Solvents among others.
By End-Uses: Aerospace & Marine, Automotive, and Consumer Goods among others.
By Regions: Europe, North America, APAC, and the Rest-of-the-World.
High Purity Alumina Market Regional Analysis
Geographically, the Asia Pacific region dominates the HPA market in terms of both volume and value. The market in the APAC region is expected to grow significantly registering 20.75 % CAGR by 2022. The Asia Pacific High Purity Alumina Market offers enormous growth potential which is likely to account for USD 4,311.8 MN by 2022.
Factors such as the ample availability of feedstock, cost-competitive workforce along with the presence of a considerable number of producers impact the market growth positively. China among other APAC countries accounts for the key growth contributor owing to the rapid industrialization and the growing LED market in the country.
The North American region accounts for the second-largest market share for High Purity Alumina. Factors substantiating the market size in the region include the augmenting demand for the durable, cost-competitive LED products and the growing demand for lithium-ion batteries due to the market penetration of electric vehicles, and smart, connected devices. Furthermore, the increasing production in electrical & electronics industries alongside the growing investments in the end-user industries such as automotive and aerospace will support the HPA market in the region.
The European region holds a considerable share in the High Purity Alumina Market. Growing HPA markets in the UK, France & Germany heading with the burgeoning automotive and aircraft manufacturing sectors contributes to the market growth hugely. Moreover, growing innovations and technological advancement in lithium-ion batteries and other LED products in the region are expected to support the regional market.
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Key Player
Some of the eminent leaders of the market include Sumitomo Chemical Co. Ltd., Alcoa Inc., Nippon Light Metal Holdings Co. Ltd., Sasol Limited, Zibo Xinfumeng Chemicals Co. Ltd., PSB Industries SA, Altech Chemicals Limited, Xuancheng Jingrui New Materials Co. Ltd, and Hebei Pengda Advanced Materials Technology Co. Ltd.
Global High Purity Alumina Market – Competitive Landscape
The fiercely competitive, High Purity Alumina Market appears to be fragmented due to the presence of several large and small-scale companies. These companies are focused on improving their market performance and increasingly acquire promising companies to expand in the fast-growing regions. Growing innovations in production technologies are further intensifying the competition in the market. At the same time, the market also demonstrates strong investment opportunities for the market players.
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