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High Purity Alumina Market Expected To Value US$ 3.6 Billion By 2021

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High purity alumina or HPA is a high-end product of the non-metallurgical alumina market. It is a high-value product that serves as a base material for the manufacture of sapphire substrates used in various applications such as scratch-resistant ar
Global HPA Market: LED Application to Witness 18% CAGR During 2015 to 2021,
Asia Pacific Remains a Lucrative Region for Global HPA Market
high-end product of non-metallurgical alumina market, high purity alumina serves as base
material for sapphire substrates production which finds its applications in various products such
as semiconductor wafers, artificial sapphire glass that are scratch-resistant and LED (light
emitting diodes). In 2014, the global market for high purity alumina (HPA) was worth US $1.2
billion and it is expected to grow at 6.9% CAGR during the forecast period (2015-2021) to reach
a market value of US $3.6 billion by 2021 end. In terms of volume, the global HPA market is
estimated to witness significant growth expanding at 19.7% CAGR over the forecast period,
according to the report by Persistence Market Research (PMR).
Increasing LED products adoption such as sapphire glass used in smartphones & smart watches
and lithium ion battery separators is driving the demand for high purity alumina. In addition,
high purity alumina is used in plasma displays as phosphor material and in protective coatings
as major component. Performance characteristics and cost of HPA varies according to degree of
purity, particle size distribution and product density.
4N HPA Remains Dominant in the Global HPA Market
Based on product type, the market is categorize into 4N, 5N and 6N. In 2014, 4N high purity
alumina stood as the largest segment and accounted for 54.1% of overall market volume share.
4N HPA is estimated to remain dominant in the global HPA market over the forecast period.
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LED to Witness 18% CAGR During the Forecast Period
Based on application, the market is segmented into semiconductors, phosphorous, LED and
others. In 2014, LED was the leading segment based on volume accounting for 54% market
share and is anticipated to hold 60% of overall market share by 2021 end. LED segment is
estimated to witness 18% CAGR during the forecast period. Rising demand for synthetic single
crystal sapphire used as base substrate in LED production, is fuelling growth of LED application
segment in the global HPA market during 2015 to 2021.
Asia Pacific Estimated to be Fastest Growing Market for HPA During 2015 to 2021
Region-wise, the market is categorized into North America, Europe, Middle East & Africa (MEA),
Latin America and Asia Pacific (APAC). In 2014, Asia Pacific dominated the overall HPA market
with more than 60% market share. Asia Pacific is estimated to be the fastest growing region in
the global HPA market, in terms of volume as well as value, over the forecast period. In addition,
around 45% market share was held by China in 2014.
North America stood second largest market in HPA market in 2014 with more than 13% market
share. Following North America was Europe. North America and Europe are estimated to
witness 16.7% CAGR and 15.6% CAGR respectively, over the forecast period. Positive outlook of
Western European Economy is expected to fuel the growth of HPA market in Europe in the near
future.
A sample of this report is available upon request @
https://www.persistencemarketresearch.com/samples/3582
Major Companies Focus on Increasing R&D Investments for Delivering Product Customization
Major factors fuelling the market growth of HPA include government support in HPA products
manufacturing, wider application among smartphones and rising demand for LED lightings &
displays. HPA production from aluminum waste and increasing R&D focus in delivering product
customization are major trends witnessed in the global HPA market. In contrast, increasing costs
of HPA is estimated to restrain the growth of HPA market in the near future.
Key market players in the global high purity alumina market include Sumitomo Chemical Co.
Ltd., Alcoa Inc., Baikowski SAS, Dalian Hiland Photoelectric Material Co. Ltd., Orbite
Technologies Inc., Altech Chemicals Ltd., and Nippon Light Metal Holdings Company Ltd.
Browse Complete Report @ https://www.persistencemarketresearch.com/market-research/high-purityalumina-market.asp
About Us:
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model is a unique collaboration of data analytics and market research
methodology to help businesses achieve optimal performance.
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