According to Facts and Factors Market Research, the global high purity aluminum market in 2019 was approximately USD 4360 Million. The market is expected to grow at a CAGR of 17.40% and is anticipated to reach around USD 13,410 Million by 2026.
Alumina is a chemical that is used as an engineering ceramic owing to its high performance. In terms of purity, alumina is available at various grades. The characteristics of alumina include electrically insulating, high thermal conductivity, high strength & stiffness, and excellent resistance to strong acids and alkalis at elevated temperatures.
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Top Market Players
- Showa Denko
- Zibo Xinfumeng Chemicals Co.
- Kyushu Mitsui Aluminum
- XUancheng jingrui New Material Co. Ltd
- C-KOE Metals
- Nippon Light Metal
- Columbia Specialty Metals
The growing initiative towards energy-efficient solutions around the globe is driving this high purity aluminum market. This high purity alumina is being widely used in semiconductors, lithium-ion batteries, plasma display screens, hybrid cars, optical lenses, sodium lamps, smartphone sapphire glass, and phosphor. Hence, it has been observed that the application of high purity alumina in the electronic industry is boosting the demand for alumina. Moreover, the urgent surge in demand for electric cars globally is raising the demand for lithium-ion batteries. To manufacture such batteries, high purity alumina is required highly. Therefore, certain factors are will rapidly accelerate the high purity alumina market worldwide.
The global high purity aluminum market has been segmented based on purity type and application. On the basis of type, the market has been fragmented into 4N, 5N, and 6N. They vary from each other based on the level of purity with 4N having less Al2O3 percentage compared with 6N and 5N. The 4N high purity alumina is the leading segment as demand for 4N alumina is high for manufacturing electronic displays and LED bulbs. In terms of applications, the market has been categorized into the electronic industry, chemical industry, and high purity alloy among others. The growing usage of LED light bulbs owing to its environment-friendly nature and longer life compared to conventional light bulbs are proliferating the electronic industry. Moreover, in recent years, the implementation of stringent environmental regulations across various nations to save energy is encouraging the adoption of energy-efficient lighting solutions that have resulted in high production and consumption of LED bulbs. Hence, the increase in demand for LED bulbs have fueled the need for alumina for manufacturing such bulbs which have ultimately, increased the growth of the high purity aluminum market.
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Growing consumer preferences towards eco-friendly aspects are driving this high purity alumina market. For instance, in houses, usage of LED bulbs has increased due to its low cost, longer life and more energy efficient over the conventional bulbs and for manufacturing LEDs, HPA is required. Hence, a significant increase in the growth of the LED market is influencing the growth of high purity alumina market. Moreover, rising concerns regarding safety among the public, the demand for autonomous cars is increasing. To design such cars, semiconductors are needed to electrify the car. Thereby, the demand for HPA is high as for manufacturing such components HPA is needed. Hence, certain factors are boosting the sales of the high purity alumina market.
The high purity alumina market research report delivers an acute valuation and taxonomy of the high purity alumina industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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The global high purity aluminum market has been analyzed in the following regions including, North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. Asia Pacific has accounted for the major market share in recent years owing to rising demand for energy-efficient LED lighting across the countries in this region, which in turn driving the growth of the high-purity alumina market. The Asia Pacific is anticipated to maintain its position in forthcoming years owing to its growth in the construction industry. These regions are further analyzed into major countries. The major countries analyzed in this research report are the U.S., Mexico, Germany, UK, Canada, France, China, India, South Korea, Japan, Brazil, and South Africa among others.
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This report segments the high purity aluminum market as follows:
Global High Purity Aluminum Market: By Type Segmentation Analysis
Global High Purity Aluminum Market: By Application Segmentation Analysis
- Electronic Industry
- Chemical Industry
- High Purity Alloy
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