Market Insights:
High-Purity Alumina usually has a minimum purity level of 99.99% and is used for several vital applications. The material has properties such as high brightness, an ability to withstand extreme temperature, corrosion resistance, chemical compatibility and crack resistance; High-Purity Alumina is finding increasing applications due to these superior qualities. The Global High-Purity Alumina Market is positioned to witness a highly promising CAGR projection of 18.56% over the assessment period of 2016 to 2022.
Applications of this material include use in LED products, production of semiconductors, in electronic displays, as separators for lithium-ion batteries and in surgical tools & instruments among others. Globally, government bodies are passing favorable policies which promote LED adoption, thus increasing the demand for High-Purity Alumina. The material has found novel application in the production of semiconductors as a base material in sapphire substrates fabrication which is useful in manufacturing scratch-proof wafers. The strong penetration of personal electronic devices, the growing adoption of electric & hybrid vehicles and other products has led to a flourishing semiconductor market which is also placing an increasing demand for High-Purity Alumina. The material has found novel application in the production of semiconductors as a base material in sapphire substrates fabrication which is useful in manufacturing scratch-proof wafer.
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The high cost of production of the material and global concern for the environment is encouraging manufacturers to seek a production process with minimal impact on the environment, thus posing a challenge to market growth. However, the market is rife with opportunities which are likely to overshadow restraints. New applications for the High-Purity Alumina are being developed as the material possesses the ability to enhance qualities of other materials, for example, High-Purity Alumina is finding application in transparent ceramics.
Key Players:
Key players that have been identified and analyzed for their role in the competitive landscape include Hebei Pengda Advanced Materials Technology Co. Ltd, Zibo Xinfumeng Chemicals Co. Ltd, Xuancheng Jingrui New Materials Co. Ltd, Sumitomo Chemical Co. Ltd, PSB Industries SA, Alcoa Inc., Altech Chemicals Limited, Sasol Limited and Nippon Light Metal Holdings Co. Ltd.
Latest Industry News:
FYI Resources has just received results from a recent drilling program at its Cadoux kaolin project in Western Australia. The analysis has confirmed that the kaolin is ideal for refining into High-Purity Alumina.
Altech Chemicals has landed a non-binding deal for USD 60 million in investment toward its High-Purity Alumina plant in Malaysia.
Hill End Gold has decided to shift focus and concentrate on developing a lucrative position for itself in the High-Purity Alumina Market and is selling its gold assets to assist in this.
Market Segmentation:
The Global High-Purity Alumina Market is segmented based on Product Type, Application, and Region.
By Product Type, the market is segmented into 4N, 5N, and 6N.
By Application, the market is segmented into LED, semiconductors, phosphor, and others. The LED segment presently accounts for approximately 54% of the global market due to the growing LED industry which is favorably supported by government authorities across the globe. By region, the global market is segmented into North America, Europe, the Asia-Pacific (APAC) and the Rest of the World (RoW).
Regional Analysis:
The Asia-Pacific has a massive majority of the global market and leads the market with exceptional growth projected in the forecast period. The region’s market-leading position is due to the concentration of leading market players who manufacture HPA, and the growing LED market which is thriving in the region. Moreover, the region is recognized as a manufacturing hub owing to the comparatively low cost of raw material and labor. China leads growth for the APAC region with more than half of the regions market share; due to the presence of a large number of producers and the massive consumption of High Purity Alumina in the country. The Asia-Pacific is set to grow at the highest CAGR of 20.75% during the assessment period.
North America and Europe account for the second and third largest regions in the Global High Purity Alumina Market respectively.
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