Transparency Market Research has published a new research report titled “High Purity Alumina Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” to their report store.
Albany, NY -- (SBWIRE) -- 05/15/2017 -- High purity alumina, which is also referred to as advanced alumina, is commercially available in the form of a fine white powder that features a homogenous crystal structure. The material is derived by using the aluminium alkoxide hydrolysis process. HPA is the base material for sapphire substrates and thus has several high-value applications. As a high-value product, which can be classified under non-metallurgical alumina, HPA finds widespread application in a myriad of industries. A number of diversified chemical companies are also engaged in the manufacture and sale of high purity alumina.
Some of the more recent applications of high purity alumina have been responsible for the steady growth of this market. It is used in light-emitting diodes (LEDs), in the manufacture of scratch-resistant glass, and in semiconductor chips and wafers. Its uses in plasma displays have also made it a high-value material in the electronics sector.
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This report takes a close look at the new applications of high purity alumina and how these are helping bring in new opportunities for the HPA market worldwide. The current regulations affecting this market are also evaluated in detail. By segmenting the market into smaller sections, the report is able to provide a granular evaluation of the global HPA market as well as identify the most promising investment areas.
Global High Purity Alumina Market: Drivers
The LED industry has emerged as one of the largest consumers of high purity alumina in the world. This trend will continue to prevail until the forecast period of the report as more and more electronics products incorporate LEDs. Despite its high cost, no major dent is projected in the sales of high purity alumina in the foreseeable future because the material doesn't have suitable substitutes. The burgeoning contract manufacturing sector in the Asia Pacific region will act as a spur to the demand for HPA.
As the integration of sophisticated electronics and entertainment systems becomes commonplace in automobiles, new opportunities are expected to spring up for HPA manufacturers in the automotive sector. However, these benefits will be overshadowed to some degree by the excessively high production cost of high purity alumina.
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Global High Purity Alumina Market: Segmentation
Some of the most common applications of high purity alumina include, but are not limited to: smartwatches, semiconductor, LED products, phosphors, and others. The LED application segment is reported as being the highest demand generator for high purity alumina.
High purity alumina is classified into four product grades: 4N, 5N, and 6N. Over half of the global high purity alumina market is represented by the 4N HPA product segment. The demand for 6N is currently the lowest among the three segments.
Global High Purity Alumina Market: Region-wise Outlook
From the standpoint of geography, the global high purity alumina market has been split into: Europe, Asia Pacific, North America, and Rest of the World. The demand for high purity alumina is the highest in Asia Pacific. The region has emerged as an electronics manufacturing hub in recent years and this has been a key growth enabler for the HPA market in Asia Pacific. China dictates the dynamics of the Asia Pacific high purity alumina market – a scenario that will likely remain so until the end of the forecast period. While North America ranks second in terms of market share, Europe stands third.
In terms of both volume and value, it is the Asia Pacific region that is projected to register the highest rate of growth through the report's forecast period.
Among the top companies in the global high purity alumina market are: Dalian Hiland Photoelectric Material Co., Ltd., Orbite Technologies Inc., Sumitomo Chemical Co., Ltd., and Nippon Light Metal Holdings Company, Ltd.