The Global for High Purity Alumina Market is estimated value at USD 5,816.2 MN by 2022 with a CAGR over 18.56 % during the forecast period (2016 to 2022), indicates the study report published by Market Research Future (MRFR). The Global HPA Market had experienced significant growth in the past years and the market is expected to demonstrate moderate developments over the review period.
HPA is typically used in the manufacturing of semiconductors and LED products which are largely used in the sectors like the automobile, aerospace, electrical & electronics, and others. The augmenting demand for lithium-ion battery separator coating acts as a tailwind that forces up the market growth.
Simultaneously, factors such as the strong growth in the 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 provide impetus to the market growth of HPA.
Additionally, significant investments transpired by the key manufacturers in the field of R&D activities is, in turn, driving the market growth, bringing about innovations and betterments in the quality and production methods of HPA.
On the flip side, factors such as volatility in the prices and demand and supply gap of the raw materials required for the production of HPA materials are hampering the market growth. However, improving economic conditions across the globe are expected to provide impetus to market growth, improving consumers’ purchasing power and making luxury items such as automotive and electronics affordable.
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Global High Purity Alumina Market - Segmentations
The report has been segmented into three key dynamics for the scope of understanding
By Type: Adhesives, Resins, Pigments, Solvents, and others.
By End-use: Automotive, Aerospace & Marine, Consumer Goods, and others.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
High Purity Alumina Market - Geographical Analysis
The Asia Pacific region dominates the Global HPA Market in terms of volume and value both. The HPA market in the region is estimated to register approximately 20.75 % CAGR during the forecast period (2016-2022). With the enormous growth potential, the High Purity Alumina Market in the APAC region is expected to reach USD 4,311.8 MN by 2022.
Additional factors substantiating the market growth in the region include the ample availability of logistics such as feedstock, cost-competitive workforce and the presence of several producers. China among other APAC countries backed by the rapid industrialization and the growing LED market accounts for the key growth contributor to the regional market.
North America accounts for the second-largest market share in the Global HPA Market. Factors impacting the market growth positively 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.
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. Matured players are increasingly acquiring promising companies to expand in the emerging regions and to improve their market performance. With the innovations in production technologies, the competition in the market is getting intensified. The market also demonstrates strong investment opportunities for the market players.
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Key Player:
Some of the eminent players leading 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.
Industry/ Innovation/ Related News:
November 02, 2018 – Altech Chemicals Limited (Australia), one of the leading global suppliers of high purity alumina (HPA) announced lodging seven patent applications in Australia and Malaysia for its unique high purity alumina production process involving kaolin (aluminous clay). Out of five, one innovation has already been granted with patent and now in the examination phase. Other two patent applications have been lodged in Malaysia as part of the company’s commitment to place itself in a strong position to protect its intellectual property rights.
The company has also finalized the site layout and building design for its proposed Malaysian high purity alumina (HPA) plant. The final design will be the basis for the submission of a development order application and the start of stage one construction.
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