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. Request to view table of content @ https://www.persistencemarketresearch.com/marketresearch/high-purity-alumina-market/toc 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: Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multidimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes. Our offerings include pre-built reports that address every major sale, customized solutions to cater to client-specific needs, and consulting services to offer more value addition. Our next-generation research approach for exploring emerging technologies has allowed us to solve the most complex problems of clients. We do not follow a reactive approach, but a pro-active one. Expert analysts at PMR keep a tab on next-generation technologies in their R&D phase and provide the latest insights into these technologies when they are being commercialized. Our groundbreaking approach allows us to deliver market solutions before the technologies reach the market. Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. 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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 artificial sapphire glass, light emitting diodes (LEDs), and semiconductor wafers.
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