High Purity Alumina (HPA) Market Size is USD 2.16 Billion at a CAGR of 22.9% by 2027

 Increasing usage of LED bulbs, electric vehicles as well as growing demand from electronics and semiconductor industry is driving the demand for the market.

The Global High Purity Alumina (HPA) Market is forecast to reach USD 11.32 billion by 2027. The major factors contributing to this growth is the increase in its usage in applications like LED lighting, semiconductors, lithium-ion batteries, photovoltaic cells, phosphor, optical lenses, biomedical device, and others. The increase in the production of electric vehicles is also driving the industry.

HPA is used for producing sapphire ingots that are used in products like LED lights or semiconductors. Governments around the world are trying to promote energy-efficient lighting systems, and this is providing a huge boost to the LED segment. The increasing adoption of LED lights is having a positive impact on the market under study. The growing popularity of electric vehicles is forcing automobile manufacturers to focus on the manufacturing of electric as well as hybrid vehicles. Electric Vehicles have lithium-ion batteries that contain high purity alumina, and thus, the growth of the electric vehicle segment is predicted to drive the industry’s growth further. HPA also finds high usage in the semiconductor industry as it is used in the fabrication of semiconductor devices.

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Top Leading Players: Alcoa Corporation, Altech Chemicals Ltd, Baikowski, Nippon Light Metal Holdings Company Ltd, Norsk Hydro ASA, Polar Sapphire Ltd, Rio Tinto, RUSAL, Sasol and Sumitomo Chemicals Co. Ltd.

Further Key Finding from the Report Suggestion:

·         The 5N type of HPA has a purity level of 99.99%. It possesses properties like scratch resistance, chemical stability and strength, which makes it suitable for the production of sapphire. Polar Sapphire is a major manufacturer of this variant of HPA.

·         Over the years, the semiconductors application segment is continuing to have the second largest market share. It is forecasted to witness a steady growth during 2020-27. Plasma display panels consists of phosphor coatings which is also driving the segment’s growth.

·         In the HCL Leaching process, hydrochloric acid is used instead of caustic soda in order to extract alumina from clay. The product is extracted by acid-leaching using HCL at high temperature and then applying pressure. This process does not find much use in manufacturing processes of different companies but have very good future prospects.

·         North America is expected to witness a considerable amount of growth during the forecast period. Increasing demand of LED lighting systems and the adoption of electric vehicles to a large extent is boosting the industry’s growth in this region. In 2016, Orbite Technologies announced the construction of a new HPA plant in Canada which would cost around USD 122 million.

·         There have been a number of new product launches in the market amongst which 4N HPA Powder of Sapphire grade by Altech Chemicals Limited and Milled Alpha Powder, Spray Dried Alpha Powder, Compressed Pucks, High Purity Alumina Beads by Polar Sapphire Limited require special mention.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global High Purity Alumina (HPA) market is segmented into:

Type Outlook (Revenue, USD Billion; 2020-2027) (Kilo Tons)

·         4N

·         5N

·         6N

Application Outlook (Revenue, USD Billion; 2020-2027) (Kilo Tons)

·         LED Bulbs

·         Semiconductors

·         Lithium-Ion Batteries

·         Optical Lenses

·         Bio Medical Devices

·         Others

Manufacturing Process Outlook (Revenue, USD Billion; 2020-2027) (Kilo Tons)

·         Hydrolysis

·         HCL Leaching

·         Thermal Decomposition

·         Vapor-Phase Oxidation

·         Others

Regional Outlook:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

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