Pune, India -- (SBWIRE) -- 06/14/2018 -- High Purity Alumina Market – Overview
High Purity Alumina fined usage in various end use industries such as transportation, aerospace, household appliances, medical, and others. The market is projected to witness noteworthy growth due to their superior properties combined with excellent usage in various end use industries specifically in aerospace, automotive, electrical & electronics, and others. Based on type segment, 4N is estimated to register strong growth followed by 5N due to their low production cost and easier availability of smelter grade alumina. Among the application segment, LED accounted to hold the largest market share due to their energy efficient operation along with increasing penetration of LED sector in automotive sector. Furthermore, increasing automotive sector base in developing countries along with burgeoning need for high quality high purity alumina is estimated to fuel the growth of the market over the estimated period.
Geographically, Asia Pacific accounted for the largest market share for High Purity Alumina in 2016, followed by Europe which is further trailed by North America. In North America the high purity alumina market is projected to above average growth over the assessment period due to the substantial growth of medical & pharmaceutical sector in this region. Asia Pacific is estimated to witness tremendous growth over the forecast period in high purity alumina market due to rising application of abrasives in machinery and metal fabrication industries. In Asia Pacific, the demand for High Purity Alumina is expected to raise in various countries such as Japan, Indonesia, South Korea, Taiwan, India, China, and the Philippines owing to increasing population along with shifting of manufacturing facilities for most of the matured market players in this region. In Europe, High Purity Alumina Market is estimated to register moderate growth due to shifting consumer preference towards the High Purity Alumina based products along with high adoption rate in electrical & electronics, aerospace, and automotive specifically in France, Belgium, UK, Italy, Germany, Poland, Spain, and Russia. In addition, various countries of Latin America and the Middle East & Africa are estimated to witness steady growth in High Purity Alumina on account of rising disposable income along with sales of High Purity Alumina based product specifically in Chile, Guatemala, Peru, Argentina, Brazil, Mexico, and Venezuela along with expanding transportation manufacturing hubs and electronics sector specifically in Kuwait, Saudi Arabia, Oman, Israel, UAE, Qatar, and Turkey.
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Industry/ Innovation/ Related News:
February 2018- Sasol Chemicals Inorganics announced to complete their alumina capacity expansion by approximately 15,000 tons per annum. This expansion will help company to strengthen their position across the globe.
October 2017- Altech Chemicals announced to raise USD 20 million for the capacity expansion of their high purity alumina plant from 4000 tpa to 4500 tpa. This expansion will help company to meet the increasing demand for high purity alumina across the globe.
May 2017- Showa Denko Aluminium Co. Ltd., a part of SDK announced to raise their high purity aluminum foil capacity in China. With this capacity expansion the company will strengthen their position across the globe.
May 2017- Hill End Gold (HEG) signed an agreement to acquire high purity alumina project from pure alumina limited. This strategic move will help company to strengthen their position among high purity alumina market players.
The High Purity Alumina report has analysed the level of competition among the key operating players in High Purity Alumina Market as well as sector growth and market scenario. The global high purity alumina market comprises of broad range of suppliers operating in the market which includes large scale and medium scale manufacturers. The prominent players of High Purity Alumina and large level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from South Korea, Australia, China, India, the Philippines, Taiwan, Malaysia, Japan, and Thailand. Moreover, the key operating players of high purity alumina are observed to follow numerous strategic plans to improve their product portfolio such as distribution agreements, strategic acquisition, joint ventures, product launches, and mergers, and exclusive agreements. Main operating players in this market are anticipated to enhance their production capacity of High Purity Alumina to meet the growing demand for high purity alumina worldwide.
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