The global high purity alumina market was valued at $1.3 billion in 2019, and is projected to reach $4.8 billion by 2026, growing at a CAGR of 20.7% from 2020 to 2026. High purity alumina (HPA) is a treated premium non-metallurgical form of aluminum categorized by its purity level. It possesses characteristics such as chemical stability, high melting point, high electrical resistance & insulation, and good thermal conductivity, which makes it an ideal choice for engineering applications.
High purity alumina is widely used in manufacturing of LED bulbs, biomedical devices, and Li-ion batteries. The demand for electric vehicles has been surged in recent years across the developing economies such as India and China to curb the carbon emission and to reduce dependency on the fossil fuels such as diesel and petrol. Due to this, the demand for Li-ion batteries has been increased significantly to power the electric vehicles. This factor is likely to increase the demand for high purity alumina. In addition, the demand for biomedical devices has been surged significantly amid corona virus outbreak. Due to growing number of patients affected form the corona virus and other diseases that requires surgical treatments has led to surge in demand for biomedical devices and is anticipated to drive the growth of high purity alumina market. Furthermore, growing demand for smart lighting such LED bulbs due to its high energy efficiency and ability to reduce the energy consumption has led to increase in its demand globally. This factor is anticipated to drive the demand for high purity alumina and will drive the growth of the market during the forecast period.
However, surge in pricing of HPA and stringent government regulations on the extraction of "Red Mud" can hamper the growth of the global high purity alumina market. On the contrary, growing demand for high purity alumina from the emerging economies such as China and India due to upsurge in demand for LED bulbs and rapidly growing medical sector are expected to offer remunerative opportunities for high purity alumina market growth in the near future.
The global high purity alumina market size is segmented on the basis of type, technology, application, and region. On the basis of type, the market is categorized into 4N, 5N, and 6N. By technology, it is bifurcated into hydrolysis and hydrochloric acid leaching (HCL). The applications covered in the study comprise LED bulbs, semiconductor substrates, li-ion batteries, optical lenses, bio-medical devices, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major key players operating in the global high purity alumina industry include Norsk Hydro ASA, Sumitomo Chemical Co., Ltd., Baikowski SAS, Alcoa Inc., Nippon Light Metal Holdings Company, Ltd., Altech Chemicals Ltd., Zibo Honghe Chemical Co. Ltd., Sasol and Xuan Cheng Jing Rui New Material Co. Ltd., and Hebei Pengda Advanced Materials Technology Co., Ltd.
COVID-19 Analysis:
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Region
High purity alumina is widely used in manufacturing of LED bulbs, biomedical devices, and Li-ion batteries. The demand for electric vehicles has been surged in recent years across the developing economies such as India and China to curb the carbon emission and to reduce dependency on the fossil fuels such as diesel and petrol. Due to this, the demand for Li-ion batteries has been increased significantly to power the electric vehicles. This factor is likely to increase the demand for high purity alumina. In addition, the demand for biomedical devices has been surged significantly amid corona virus outbreak. Due to growing number of patients affected form the corona virus and other diseases that requires surgical treatments has led to surge in demand for biomedical devices and is anticipated to drive the growth of high purity alumina market. Furthermore, growing demand for smart lighting such LED bulbs due to its high energy efficiency and ability to reduce the energy consumption has led to increase in its demand globally. This factor is anticipated to drive the demand for high purity alumina and will drive the growth of the market during the forecast period.
However, surge in pricing of HPA and stringent government regulations on the extraction of "Red Mud" can hamper the growth of the global high purity alumina market. On the contrary, growing demand for high purity alumina from the emerging economies such as China and India due to upsurge in demand for LED bulbs and rapidly growing medical sector are expected to offer remunerative opportunities for high purity alumina market growth in the near future.
The global high purity alumina market size is segmented on the basis of type, technology, application, and region. On the basis of type, the market is categorized into 4N, 5N, and 6N. By technology, it is bifurcated into hydrolysis and hydrochloric acid leaching (HCL). The applications covered in the study comprise LED bulbs, semiconductor substrates, li-ion batteries, optical lenses, bio-medical devices, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major key players operating in the global high purity alumina industry include Norsk Hydro ASA, Sumitomo Chemical Co., Ltd., Baikowski SAS, Alcoa Inc., Nippon Light Metal Holdings Company, Ltd., Altech Chemicals Ltd., Zibo Honghe Chemical Co. Ltd., Sasol and Xuan Cheng Jing Rui New Material Co. Ltd., and Hebei Pengda Advanced Materials Technology Co., Ltd.
COVID-19 Analysis:
- The demand for high purity alumina is likely to experience a downfall during the corona virus pandemic due to affected supply chain amid lockdown.
- The automotive industry has been affected badly due to COVID-19 outbreak and amid lockdown. The automotive manufacturers have halted the production of electric vehicles due to supply shortage of lithium-ion batteries. 4N high purity alumina is used in manufacturing of Li-ion batteries. The decline in production of Li-ion batteries have resulted in decline in demand for 4N high purity alumina and is likely to affect the growth of the market during the forecast period.
- High purity alumina is broadly used in production of synthetic sapphire used in manufacturing of optical lenses. Declining demand and sale of optical lenses during the COVID-19 pandemic amid lockdown is likely to hamper the demand of high purity alumina from optical lens manufacturers.
- HPA is used in manufacturing of bio-medical devices such as pacemakers, intraocular cataract lenses (IOLs), vascular grafts, orthopedic pins, and surgical tools. During the COVID-19 pandemic outbreak, the demand for bio-medical devices has been surged significantly for the treatment of corona virus affected patients and also the patients suffering from other diseases and ailments. This factor is likely to increase the demand for high purity alumina from bio-medical device manufacturers during the forecast period.
KEY BENEFITS FOR STAKEHOLDERS
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current trends and future estimations of the market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
- By Type
- 4N High Purity Alumina
- 5N High Purity Alumina
- 6N High Purity Alumina
- By Technology
- Hydrolysis
- Hydrochloric Acid Leaching
- By Application
- LED Bulbs
- Semiconductor Substrate
- Li-ion Batteries
- Optical Lenses
- Bio Medical Devices
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Frequently Asked Questions about the Global High Purity Alumina Market
What is the estimated value of the Global High Purity Alumina Market?
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Who are the key companies in the Global High Purity Alumina Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 356 |
| Published | June 2020 |
| Forecast Period | 2019 - 2026 |
| Estimated Market Value ( USD | $ 1.3 billion |
| Forecasted Market Value ( USD | $ 4.8 billion |
| Compound Annual Growth Rate | 20.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global High Purity Alumina Market, by Type
Chapter 5: Global High Purity Alumina Market, by Technology
Chapter 6: Global High Purity Alumina Market, by Application
Chapter 7: Global High Purity Alumina Market, by Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles
Companies Mentioned
- Norsk Hydro ASA
- Sumitomo Chemical Co Ltd
- Baikowski SAS
- Alcoa Inc
- Nippon Light Metal Holdings Company Ltd
- Altech Chemicals Ltd
- Zibo Honghe Chemical Co Ltd
- Sasol and Xuan Cheng Jing Rui New Material Co Ltd
- Hebei Pengda Advanced Materials Technology Co Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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