NEW
YORK, July 3, 2024 /PRNewswire/ -- The
global high purity alumina market size is estimated to
grow by USD 6.82 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of over 33.95% during the forecast period. Rising
adoption of led lighting is driving market growth, with a
trend towards declining manufacturing cost of LED and
lithium-ion batteries. However, high cost of production of hpa
poses a challenge. Key market players include Advanced Energy
Minerals, Alcoa Corp., Alpha HPA Ltd., Altech Advanced Materials
AG, Altech Chemicals Ltd., AluChem Inc., Baikowski SA, CoorsTek
Inc., Devtaar GmbH, FYI Resources Ltd., HPA Sonics, Nippon Light
Metal Co. Ltd., Norsk Hydro ASA, Orient Abrasives Ltd., Oyak, Polar
Sapphire Ltd., Sasol Ltd., Sumitomo Chemical Co. Ltd., United
Company RUSAL, and Vizag Chemical International.
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High Purity Alumina
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
33.95%
|
Market growth
2024-2028
|
USD 6827.8
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
26.78
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 69%
|
Key
countries
|
China, Taiwan, US,
South Korea, and Japan
|
Key companies
profiled
|
Advanced Energy
Minerals, Alcoa Corp., Alpha HPA Ltd., Altech Advanced Materials
AG, Altech Chemicals Ltd., AluChem Inc., Baikowski SA, CoorsTek
Inc., Devtaar GmbH, FYI Resources Ltd., HPA Sonics, Nippon Light
Metal Co. Ltd., Norsk Hydro ASA, Orient Abrasives Ltd., Oyak, Polar
Sapphire Ltd., Sasol Ltd., Sumitomo Chemical Co. Ltd., United
Company RUSAL, and Vizag Chemical International
|
Market Driver
The global high purity alumina market is anticipated to grow due
to the declining costs of LED manufacturing and the increasing
adoption of lithium-ion batteries. The decrease in semiconductor
chip and component prices, economies of scale, and shift to larger
sapphire substrates have reduced LED manufacturing costs, leading
to lower installation costs and increased demand. Similarly, the
falling production costs of lithium-ion batteries, driven by
expanding production scales and cost-effective technologies, have
boosted their adoption in various industries. These trends are
expected to continue fueling the growth of the high purity alumina
market.
The High Purity Alumina (HPA) market is experiencing significant
growth due to increasing demand from various industries. LED
manufacturing is a major driver, as HPA is essential for producing
high-quality LED chips. The market is also influenced by the
semiconductor sector, where HPA is used in the production of
sapphire substrates. The demand for high-performance capacitors is
another trend, as HPA is a key component in their manufacture. The
market is competitive, with major players focusing on technology
innovation and cost reduction to meet customer needs. The market is
expected to continue growing, driven by the expanding electronics
industry and the increasing use of HPA in various
applications.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The High Purity Alumina (HPA) market faces rising production
costs due to increased raw material, energy, and labor expenses, as
well as stringent regulations. Major HPA production methods include
thermal decomposition and hydrolysis of aluminum alkoxide. The
latter process uses expensive raw materials like pure aluminum
metal. HPA production is energy-intensive, and rising electricity
prices significantly impact costs. These factors hinder market
growth, increasing production costs for vendors and potentially
affecting profitability during the forecast period.
- The High Purity Alumina (HPA) market faces several challenges
in the production process. The key elements include the high cost
of raw materials such as bauxite and sapphire. The complex
production process involves several steps like calcination,
crystallization, and separation. The requirement for high purity
levels adds to the complexity and cost. The market also faces
challenges in terms of supply and demand balance, as the demand for
HPA is increasing in various industries like electronics,
optoelectronics, and solar energy. The need for sustainable and
cost-effective production methods is a significant challenge for
market players. The use of advanced technologies like hydrothermal
synthesis and sol-gel process can help address these challenges and
improve the overall efficiency of HPA production.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This high purity alumina market report extensively covers market
segmentation by
- Application
- 1.1 LEDs
- 1.2 Semiconductors
- 1.3 Phosphors
- 1.4 Others
- Type
- 2.1 4N HPA
- 2.2 5N HPA
- 2.3 6N HPA
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 LEDs- The High Purity Alumina (HPA) market
experiences consistent growth due to increasing demand from various
industries. Key applications include the production of sapphire for
electronics and LED manufacturing. HPA's high purity level ensures
superior product quality. Major producers include Alcoa
Corporation, Sumitomo Chemical, and Aluminum Corporation of
China. These companies invest
heavily in research and development to improve production
efficiency and product purity. The market is expected to expand
further with the increasing adoption of HPA in advanced
technologies such as lithium-ion batteries and solar panels.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The High Purity Alumina (HPA) market holds significant
importance in various industries, including batteries for electric
vehicles (EVs) and lighting technology. HPA is a crucial chemical
product in the production of alumina-coated separators for
lithium-ion (Li-Ion) batteries, enhancing their performance and
durability. In the realm of lighting, HPA is employed in the
manufacturing of LEDs, which are energy efficient and increasingly
used in lighting installation projects. Furthermore, HPA plays a
pivotal role in gas separation processes, such as ultra-filtration,
and is also used in microelectronics, semiconductors, and sapphire
production. The Energy Department continues to invest in research
and development of HPA, exploring its potential applications in
advanced technologies like Boehmite and waste management.
Market Research Overview
The High Purity Alumina (HPA) market refers to the production
and supply of alumina with a purity level exceeding 99.9%. This
material is essential in various industries, including electronics,
semiconductors, and refractories. The global HPA market is driven
by the increasing demand for advanced technologies and the growing
adoption of electronic devices. The production process involves the
calcination of bauxite ore, followed by the precipitation of
aluminum hydroxide and the calcination of the hydroxide to form
alumina. The market is segmented based on application, region, and
production process. The demand for HPA in the semiconductor
industry is expected to grow significantly due to the increasing
production of microprocessors and memory chips. The market is also
expected to be influenced by factors such as raw material prices,
technological advancements, and government regulations.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- LEDs
- Semiconductors
- Phosphors
- Others
- Type
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio