High Purity Alumina Market – Overview
The High Purity Alumina Market has shown tremendous potential in the past few years due to increasing demand for synthetic sapphires. They are a major component in the production of semiconductor wafers used in the electronics industry, scratch-resistant sapphire glass used for wristwatch faces and substrates for LED lights, the demand for which has grown at a rapid pace. Market focused reports related to the chemicals & materials sector among others recently have been made available by Market Research Future which publishes reports on this sector. The industry is expected to grow at a CAGR of 18.56 percent through the forecast period.
As HPA is expanding its market control to novel application segments and the heightened pace of development in the electronics sector has resulted in significant gains in the High Purity Alumina Market. Addition of mineral processing and advanced inorganics companies that are adding high purity alumina to their product mixes have also been fuelling the growth of the industry.
Industry Segments
The High Purity Alumina Industry has been divided into segments based on product types, application and region. The segment on the basis of Product Type comprises of 6N, 4N and 5N. On the basis of application, the segmentation of the market comprises of LED, Phosphor, Semiconductors, and others. In the application segment, the LED segment controls a high market share of 54 percent in the forecast period. LED products have durability, high life span and reliability which makes adoption rate high in end user. This increase in adoption rate is expected to boost the market in forecasted period. Phosphor used in manufacturing of plasma displays and protective coatings increase the market share of HPA product. The region wise segmentation of the market includes North America, Asia Pacific, Europe and rest of the world.
Industry Updates:
Apr 2018 Andromeda Metalsis which is a junior lithium, gold and copper explorer is investing in high-grade aluminium via a farm-in deal joint-venture with Minotaur Exploration. Both firms have consented for Andromeda to obtain up to 75% of the halloysite-high purity alumina (HPA) project in the South Australian region with the important condition that it will expend a $6 million on developing the project over the period of 5 years. The project is established to comprise a high-quality kaolin JORC mineral resource, with substantial potential to manufacture HPA at grades beyond 99.9%.
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Detailed Regional Analysis
The regional analysis of the High Purity Alumina Industry covers five different region namely, Europe, North America, Asia-Pacific, South America, Middle East and Africa. The North American region is further divided into Canada and US while the European market is includes nations such as Spain, UK, Germany, France, Italy and Rest of Europe. The Asia-Pacific region is sub segmented into India, China, Japan, and Rest of Asia-Pacific. The High Purity Alumina Industry globally is anticipated to reach $5,816.2 million by the end of forecast period. The Asia-Pacific region accounts for the major market share and is followed by North America and Europe regions. The Asia Pacific region has a huge growth potential in the High Purity Alumina industry and is scheduled to register the highest CAGR of 20.75 percent to achieve $4,311.8 million by 2022 due to the incidence of cheap labor cost, a large number of manufacturers and a growing number of application segment.
Global Competitive Analysis
Challengers in the market who are constantly delivering customer value have devised their corporate strategy blueprint in a manner that can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. This state of events has shaped the opportunities for improvements in portfolio along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The capability to fuel their competitive edge is one of the chief causes powering their efforts in this period. The opportunity for development in the industry appears to be encouraging through the forecast period. The escalating interest for diversification in the industry, has indirectly allowed the companies to utilize many scenarios available in the industry. The firms in this industry are also trying to improve and preserve financial liquidity that can be vital to invest in growth prospects as and when they arise.
The High Purity Alumina Industry includes competitors such as Hebei Pengda Advanced Materials Technology Co., Ltd, Nippon Light Metal Holdings Co., Ltd, Ltd, Sasol Limited, PSB Industries SA, Xuancheng Jingrui New Materials Co., Ltd, Zibo Xinfumeng Chemicals Co., Alcoa Inc., Sumitomo Chemical Co., Ltd, Altech Chemicals Limited and others.
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