IMARC Group, a leading market research company, has recently releases report titled “High Purity Alumina Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global high purity alumina market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the high-purity alumina market?
The global high-purity alumina market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2028, exhibiting a growth rate (CAGR) of 25% during 2023-2028.
What is high-purity alumina?
The global market is primarily driven by significant growth in the electronics sector. Along with this, the rising awareness regarding sustainable development among the masses is creating a positive outlook for the market across the globe. This has encouraged leading players in the market to heavily invest in the manufacturing of energy-efficient alternatives for incandescent bulbs, which is providing a boost to the market growth. In line with this, the rising government initiatives towards smart cities development on the global level are also bolstering the demand for light-emitting diodes (LEDs) bulbs. Moreover, rapid digitization across numerous industries has led to the increasing adoption of electronic devices among individuals and businesses, which is positively influencing the market growth.
The global market is further driven by the widespread usage of high purity alumina in the manufacturing of dental and orthopedic implants, thereby providing an impetus to the market growth. Some of the other factors contributing to the market growth include rapid urbanization and extensive research and development (RD) activities conducted by key players.
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What are the growth prospects and trends in the high-purity alumina industry?
The high purity alumina (HPA) industry is expected to experience significant growth and witness several trends in the coming years. One of the key growth prospects is the increasing demand for HPA in various applications, including LED lighting, lithium-ion batteries, semiconductors, and electronic displays. The growing adoption of these technologies is driving the need for high-quality and high-performance materials like HPA. Another trend in the industry is the shift towards sustainable and environmentally friendly practices. Manufacturers are focusing on developing HPA using cleaner production methods and exploring recycling options to reduce environmental impact. Furthermore, advancements in technology and research are leading to the development of innovative applications for HPA, such as artificial intelligence, electric vehicles, and aerospace components.
These emerging applications are expected to drive the demand for HPA in the future. Moreover, increasing investments in research and development activities, as well as capacity expansions by key market players, are anticipated to further fuel industry growth. Overall, the high purity alumina industry is poised for growth, driven by increasing demand in various sectors, sustainability initiatives, technological advancements, and expanding applications.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Purity Level:
- 4N
- 5N
- 6N
Breakup by Production Method:
- Hydrolysis of Aluminium Alkoxide
- Hydrochloric Acid Leaching
- Others
Breakup by Application:
- LED
- Semiconductor Substrate
- Phosphor
- Sapphire Glass
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Alcoa Corporation
- Altech Chemicals Limited
- Baikowski SAS
- Coorstek Inc. (Keystone Holdings LLC)
- Nippon Light Metal Holdings Company Ltd.
- Norsk Hydro ASA
- RusAL
- Sasol Limited
- Sumitomo Chemical Co. Ltd
- Zibo Honghe Chemical Co. Ltd.
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