The global high purity Alumina market valued US$ 808.21 Mn in 2019 and is expected to grow at a CAGR of 10.69% over the forecast period to reach US$ XX Mn by 2028.
The Global High Purity Alumina market is segmented by technology into Hydrolysis and Hydrochloric Acid Leaching. Further, the market is segmented by application which include LED, Semiconductor, Phosphor, Sapphire, and Others. The report scope covers North America, South America, Europe, Asia-Pacific, and Middle East & Africa in geographical analysis. The global high-purity alumina market is driven by several factors such as growing demand for LED lighting systems and LED displays. Products that use LEDs are energy efficient and are driving the demand for high-purity alumina, which is used in the manufacturing of sapphire substrates. High-purity alumina is also used in other applications such as electronic substrates, hybrid cars, electronic screen backlighting, soft-focus cosmetics, and semiconductors. However, growing concern for environment and energy constraints are some of the major restrictive factors for the market growth.
Market Dynamics
Drivers
- Increasing use of sapphire glass in high-end smartphones
- Growing adoption of led lighting systems
Restraints
- High production costs
Opportunities
- Innovative manufacturing methods of high purity alumina
- Rising demand for automotive LIBs
Innovative manufacturing methods of high purity alumina
The high growth potential of high purity alumina in automotive and electronics applications is driving the global advanced material manufacturers towards development of advanced HPA production technologies. Several global giants including Altech Chemicals, Sumitomo Chemicals and Homford Crystal Technology Anhui Co. Ltd. are filing large number of patents pertaining to HPA production. These technological advancements are likely to result a decline in material cost, thus opening opportunities in medium scale markets
Rising demand for automotive LIBs
The surging market for electric vehicles (EVs) is another growth opportunity for global HPA market. HPA is used as the preferred choice of coated battery separator in Lithium-ion batteries. The leading EV manufacturers are focusing towards development of their own battery and cell packs. Tesla is establishing a high capacity lithium-ion battery production facility in China. These plans for battery production are likely to surge the demand for HPA as battery separators
Geographical Analysis
South America high purity alumina market is valued at USD 26.60 Mn in 2019 and is estimated to grow at a CAGR of 8.00% over the forecast period to reach USD XX Mn by 2028. Brazil holds 59.57% of market share in 2018, and is expected to increase by 61.27% by 2028, for the global high purity market, followed by the Rest of South America at 23.96% of South America market share in 2018. The collective revenue of High Purity Alumina is expected to generate USD 298.31 Mn during 2019-2026. The growth of manufacturing units in Brazil will boost the adoption of LED lights in this region. The Brazilian government banned 40-watt bulbs in 2014 and had plans to eliminate the production of all incandescent light bulbs by 2016. Thus, there will be an increase in the demand for high-purity alumina for LED and semiconductor purposes. Increasing urbanization in Brazil is leading to growing demand for LED lighting products to cater to the growing number of households. As the residential sector is the major revenue contributor in the LED general lighting market in Brazil, the growth in use of high purity alumina will positively impact the market. A number of cities throughout Brazil have implemented or have begun the development of smart city projects that would be deployed in the near future, including Sao Paulo, Rio de Janeiro, Brasilia, and Curitiba. The high purity alumina would be further influenced by the smart city development
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