According to the latest report by IMARC Group, titled "High Purity Alumina Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global high purity alumina market is expected to exhibit a CAGR of 25.5% during 2022-2027. High purity alumina (HPA) is widely utilized to manufacture sapphire substrates. It is generally derived from aluminum oxide and characterized by a uniform crystal powder with a high purity level that can be achieved through thermal decomposition, modified Bayer process and chlorine hydrolysis. Also referred to as non-metallurgical premium alumina, it exhibits high corrosion resistance, melting point and thermal stability. As a result, it is extensively used in the manufacturing of artificial sapphire glass, light-emitting diodes (LEDs), semiconductors, ceramics, smart electronic devices, photovoltaic cells, and gemstones.
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Global High Purity Alumina Market Trends:
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 (R&D) activities conducted by key players.
- On the basis of the purity level, the market has been segregated into 4n, 5n and 6n.
- Based on the production method, the market has been classified into hydrolysis of aluminium alkoxide, hydrochloric acid leaching and others.
- On the basis of the application, the market has been categorized into LED, semiconductor substrate, phosphor, sapphire glass and others.
- Based on the region, the market has been North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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 and Zibo Honghe Chemical Co. Ltd.
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