Based on revenue, High Purity Alumina Market in 4N HPA segment to reach USD 2.5 billion by 2025 owing to its increasing applicability in the creation of more efficient and environment friendly lighting solutions, particularly boosted by US legislations to phase out incandescent lights. The product is also used in abrasive and sapphire-single crystal applications. HPA with higher purity levels are essential in devising medical equipment due to its biocompatibility, increasing proportion of bioceramics for prostheses and implants will spur high purity alumina market demand in near future.
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In 2017, LED applications accounted for more than 50% share of the high purity alumina market, as incandescent light bulbs are slowly coming to be replaced with LED lights, given that many countries have began phasing out the less energy efficient incandescent lamps to fulfil energy efficiency targets to reverse the effects of climate change. Residential LED products are expected to use at least 75% less energy and last up to 25 times longer than the traditional lamps. Incandescent bulbs have become infamous for losing most of their energy as heat compared to which LEDs are much more energy efficient. The widespread use of LED lighting can potentially reduce electricity consumption.
Apart from the residential use of LEDs, commercially, most of the automakers have been integrating LED bulbs in their vehicles pertaining to the growing popularity of connected vehicles. In connected vehicles, LED bulbs are used to receive and send the data to the surrounding vehicles to avoid the chances of any hazard such as accidents. HPA is one of the primary materials used to manufacture sapphire substrates for light emitting diodes. Thereby, it is rather overt that the rising demand for LEDs will favorably boost the high purity alumina market size. Indeed, LEDs accounted for more than 50% of the overall high purity alumina market share in 2017.
High purity alumina market is arguably one of the fastest growing industries of present times owing to the rising demand for HPA in manufacturing products that have come to form the very cornerstone of the present age of technology. High purity alumina is used as a critical ingredient in the production of synthetic sapphire used for manufacturing substrates for LED light, semiconductor wafers as well as scratch-resistant sapphire glass used for optical windows, wristwatch faces and smartphone components. HPA is a high-value, high margin product that finds application in separators for lithium ion batteries in the electric vehicle industry and surgical tools and instruments in the medical industry. Given the expanding application base of high purity alumina, it is rather overt that high purity alumina market will observe a commendable growth over 2018-2025.
Considering region, Asia Pacific will hold the maximum share of around 60% in the high purity alumina market by the end of forecast period. Rising demand for infrastructural spaces and growing electronic equipment production in China, Taiwan, South Korea and Japan will lead high purity alumina market during the forecast period.
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The high purity alumina market competitive landscape includes key players such as Alcoa Corporation, Sumitomo Chemical, Altech Chemicals Limited, Rio Tinto Alcan, Norsk hydro, Polar Sapphire, Baikowski SAS, Sasol, Nippon Light Metal Company Limited, Zibo Honghe Chemical Comopany.
limpse of Table of Content (ToC)
Chapter 5. High Purity Alumina Market, Product By Application
5.1. Global high purity alumina market, product insights
5.2. 4N (99.99%)
5.2.1. Market estimates and forecast, by application, 2014 – 2025
5.2.2. Market estimates and forecast by region, 2014 – 2025
5.3. 5N (99.999%)
5.3.1. Market estimates and forecast, by application, 2014 – 2025
5.3.2. Market estimates and forecast by region, 2014 – 2025
5.4. 6N (99.9999%)
5.4.1. Market estimates and forecast, by application, 2014 – 2025
5.4.2. Market estimates and forecast by region, 2014 – 2025
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