Albany, NY -- (SBWIRE) -- 06/11/2018 -- According to a recent analysis, the market for high purity alumina is gaining traction due to various performance benefits offered by high purity alumina over traditionally used alumina. Use of high purity alumina is expanding in the electronics industry due to its specific properties such as high plasma corrosion resistance and relatively high strength. To elaborate further, Market Research Hub (MRH) has freshly publicized a study titled "High Purity Alumina (HPA) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" to its vast repository, which includes historical data and statistics as well as future value projections of various segments of the global high purity alumina market for a period of nine years, starting from 2018 and ending in 2026.
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The fact-based research report on global high purity alumina market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analyzed across key regions of Latin America, North America, Europe, Japan, Middle and Africa (MEA) and the Asia Pacific excluding Japan (APEJ). According to the analyst's estimation, the high purity alumina market was valued at around US$ 1,100 Mn in 2017 and is anticipated to expand at a strong CAGR of 15.4% during the forecast period.
Market Insights from the Report
In this 270-page detailed study, the research study presents market preface which talks about market definition, key research objectives, and research highlights. Further, the readers can access data about the executive summary that covers market snapshot to enlighten them about the motive of the study. It has been analyzed that global demand for high purity alumina has gained an incredible traction, owing to growing technological advancements and increasing demand from applications namely LED bulbs, electronic displays, automotive and medical.
Moreover, for a clear understanding, the research has been categorized on the basis of grade, and application analysis. One of the most prominent applications of high purity alumina is its use in LED production. Sapphire produced using high purity alumina as a raw material is used as a substrate for LEDs. Thus, steady rise in demand for LEDs and the corresponding increase in LED production is expected to drive the consumption of high purity alumina during the forecast period. In terms of grade, the research identifies that use of 5N grade high purity alumina, especially in the production of single crystal sapphire, has increased over the recent past. Moreover, this trend is expected to continue during the forecast period.
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Geographically, Asia Pacific constituted a significant share of the high purity alumina market in 2017. Expansion in automotive and LED lighting industries is estimated to provide lucrative opportunities to the market during the forecast period. Besides, consumption of high purity alumina is expected to rise in North America during the forecast period spearheaded by the U.S.
At last, the concluding section of the report deals with the company market share analysis of key players operating in this industry. As reported, some of the chief players dominant in the global high purity alumina market include Baikowski SAS, Altech Chemicals Ltd., Hebei Heng Bo New Material Technology Co. Ltd., Sumitomo Chemical Co. Ltd., Nippon Light Metal Co. Ltd., Sasol Ltd., and Polar Sapphire Ltd.
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