High Purity Alumina Market Overview:
High Purity Alumina market size was valued at USD 2.1 Billion in 2021, registering a CAGR of 14.9% during the forecast period (2022-2030), and the market is projected to be worth USD 7.33 Billion by 2030.
The increased need for automobiles, semiconductor display materials, and computers owing to their stability of the structure, high workability, and good quality is anticipated to boost the demand for High Purity Alumina. Additionally, it is a highly demanded product because it is a crucial component required for the production of synthetic sapphire. Which is further used to manufacture LED lights and semiconductor wafers. For instance, according to International Energy Agency, LED sales have increased significantly over the past few years, increasing to more than half of all lighting sales in 2021, with integrated LED luminaires accounting for a growing portion, from a market share of about 5% in 2013. Thus, the high need for high-purity alumina for manufacturing LEDs is expected to boost industry growth.
High-purity alumina (HPA) is the purest form of aluminum oxide (Al2O3) that is produced via the hydrolysis of aluminum oxide, Hydrochloric acid (HCl) leaching, vapor-phase oxidation, and underwater spark discharge with aluminum. It is a high-value, high-demanded product that is used for manufacturing synthetic sapphire. This a non-metallurgic, non-corrosive, bright with 99.9% minimum purity, and high temperature resistant. They have numerous applications in the electronic industry such as the production of wafers, synthetic gemstones, parts of smartphones glass TV, and many more. In the context of the region, the North American high purity alumina, market is expected to grow at a CAGR of 14.3%in the forecasting period, reaching a value of more than USD 278.3 million.
Need for the synthetic sapphire for the production of LEDs which are being used for different applications such as smartphone backlights, automobile headlights, home illumination, and many others is increasing globally resulting in demand for HPA, serving as the key driver. The high purity alumina market is further bolstered by the rising number of electric vehicles (EVs). Due to the increasing production of electric vehicles (EVs), the demand for lithium-ion batteries is significantly rising. HPA is used to coat lithium-ion battery separators, so this has led to rapid consumption.
The increasing cost of high purity alumina hinders market growth. Also, strict rules are set by the government on the extraction of red mud as it causes problems such as irritation in the eyes and upper respiratory tract hindering the growth of the high purity alumina market.
The COVID-19 pandemic had a negative impact on the market for high purity alumina in various regions of the world. The main effects of COVID-19 that slowed the expansion of the market were restrictions on transportation, uncertain consumer demand, a lack of raw materials, and low production of high-purity alumina products. Trade restrictions and the closure of a manufacturing facility as a result of government-imposed lockdowns impacted shipping during the initial lockdown. From December 2019 to April 2020, alumina production decreased by 3.22 percent. During COVID-19, the market’s expansion was also hampered by sectoral obstacles in the construction, electrical, and transportation industries. Because these industries use 80 % of the alumina produced.
High Purity Alumina Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||7.33 Billion|
|By Type||4N HPA, 5N HPA and 6N HPA|
|By Application||LED Bulbs, Semiconductor Substrates, Li-ion Batteries, Optical Lenses, Bio-Medical Devices, and Others|
|By Region||North America, Europe, Asia Pacific, Latin America, Middle East, and Africa|
|Key Players||Sumitomo Chemical Co. Ltd., Sasol Ltd., Baikowski SAS, Nippon Light Metal Co. Ltd., HMR Co., Ltd., Dalian Hiland Photoelectric Material Co., Ltd., Hebei Hengbo New Material Technology Co. Ltd., Xuancheng Jing Rui New Material Co., Ltd., Polar Sapphire, and Altech Chemicals Ltd.|
The product type segment is trifurcated into the 4N HPA, 5N HPA and 6N HPA. The 4N segment is anticipated to register the fastest CAGR growth during the forecast period. It is suitable for use in LEDs, mining equipment, and electric vehicles due to its superior brightness and hardness, resistance to corrosion, and capacity to endure high temperatures. Hence, are estimated to support the contribution of the 4N segment in high purity alumina market growth. Additionally, a significantly larger number of major players are investing in R&D to provide individualized products that meet the needs of specific application areas. Also, the 5N is estimated to contribute the largest share of the market growth. The characteristics such as chemical stability, hardness, and scratch resistance make them suitable for sapphire production.
The application segment is categorized into LED Bulbs, Li-ion Batteries Semiconductor Substrate, Bio-Medical Devices, Optical Lenses, and Others. Over the forecast period, the LED Bulbs segment contributed more than 10.6% of the industry’s growth. This market is expected to grow because of factors like the adoption of LEDS by many countries and the governments of several countries encouraging the use of LED lights by investing in numerous energy-efficient technologies. For instance, before decorative lights in urban areas were to be replaced, LEDs were to be installed in 250,000 streetlights in New York City. Furthermore, the semiconductor segment is also anticipated to experience significant growth over the forecast period. They can be used in a wide range of electronic applications due to their high strength and chemical and thermal stability. As a result, it is anticipated that the market for high purity alumina will expand as the electronic industry expands.
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. Europe is anticipated to contribute the largest share to the market growth in 2021. The rise in the production of LEDs and lithium-ion battery separators in major nations like Germany, the United Kingdom, Russia, and France is accountable for the expansion and is anticipated to fuel the market growth in the Europe region.
Asia Pacific is also estimated to register the fastest growth in terms of value and volume during the forecast period owing to the rising expenditures on the research and development of technologically advanced alternatives in terms of cost-effectiveness. It is anticipated that the expansion of the market in the Asia-Pacific region will be fueled by the growing use of LED-based lighting and Li-ion batteries in more applications.
High Purity Alumina Market Competitive Landscape:
The competitive landscape of the High Purity Alumina industry has been examined in the report. Additionally, the detailed profiles of the major industry players are also assessed in terms of the surge in Research and Development (R&D), product innovations, application launches, and company business strategies that have augmented the growth of the sample preparation market. Key players in the market include-
- Sumitomo Chemical Co. Ltd.
- Sasol Ltd.
- Baikowski SAS
- Nippon Light Metal Co. Ltd.
- HMR Co. Ltd.
- Dalian Hiland Photoelectric Material Co., Ltd.
- Hebei Hengbo New Material Technology Co. Ltd.
- Xuancheng Jing Rui New Material Co., Ltd.
- Polar Sapphire
- Altech Chemicals Ltd.
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