High Purity Alumina Market is known for its high value, high margin and is a highly demanded product that serves as a pivotal factor in the production of synthetic sapphire. The component is well-known for its contribution in the semiconductor industries and in the production of hybrid cars, lithium ion batteries, optical lenses, photovoltaic cells, phosphor, sodium lamps, and others. The Global High Purity Alumina Market is deemed to chart its forward quest with a 18.56% CAGR during the forecast period of 2016 to 2022. Market Research Future (MRFR) in their latest report on the same market claims the possibility of a growth that would surpass the expected market valuation.
Factors, such as the high intake of LED products and smartphones are expected to take the Global High Purity Alumina Market ahead in the coming years. Electric vehicles and hybrid cars are also expected to provide much traction to the market. This is due to the high inclusion of the product in the semiconductor industry and the industry is imperative for the electric vehicle industry growth.
Several companies in the Global High Purity Alumina Market are showing keen interest in establishing their footing. These companies are Nippon Light Metal Holdings Co., Ltd, Alcoa Inc., Sumitomo Chemical Co., Ltd, Sasol Limited, Zibo Xinfumeng Chemicals Co., Ltd, Xuancheng Jingrui New Materials Co., Ltd, PSB Industries SA, Hebei Pengda Advanced Materials Technology Co., Ltd, Altech Chemicals Limited, and others. MRFR profiled these companies for a better market analysis and to have a complete grip over trends that can inspire the market in the coming years.
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In August 2019, Australian firm Archer Exploration Limited, known for their mineral exploration activities, announced their target in South Australia, the Eyre Peninsula for their latest High Purity Alumina (EPHPA) Project.
MRFR, in their analysis of the Global High Purity Alumina Market, revealed that the market could be segmented into Products and Application. This segmentation would ensure an easy access to various factors that can impact the market in the coming years. This analysis has strong roots in the volume-based and value-based data fetched by adept analysts.
Based on the Product Type, the High Purity Alumina Market can be segmented into 4N, 5N and 6N. The 4N segment has 99.99% Purity and 0.01% impurity, the 5N segment has 99.999% purity and 0.001% impurity, and the 6N segment has 99.9999% purity and 0.0001% impurity.
Based on the Application, the High Purity Alumina Market can be segmented into LED, semiconductors, phosphor, and others. The LED segment has a control of almost 54% of the entire market. These products display a strong lifespan, durability, and reliability due to which the intake of these products by various end-user is quite high. The phosphor segment gains strong traction by becoming a part of the manufacturing of plasma displays and protective coatings.
North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa (MEA) are five distinct regions that have been named in a region-specific analysis of the Global High Purity Alumina Market. This analysis banks on revealing various market possibilities and demographic challenges which the market can face in the coming years.
The APAC market has the lead and is expected to retain its dominance during the forecast period. Both in terms of volume and value, the High Purity Alumina Market in this region is expected to score better than other regions. The growth would be at an impressive 20.75% CAGR during the forecast period. China, in this region, is expected to record the fastest growth rate due to rapid industrialization, cost-affordable raw materials, easy availability of labor and better manufacturing facilities for LED products.
North America is expected to grab on the second spot during the forecast period with Europe taking the third spot. The inclusion of semiconductors in the automotive sector can take these two regions quite far as their infrastructures for the automotive sector are quite robust.
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