High Purity Alumina Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The high purity alumina market was valued at US$ 2.1 billion in 2021 and it is expected to grow at a CAGR of 15.1% between 2022 and 2031.

High purity alumina (HPA) is aluminum oxide (Al2O3) in high purity form, and it is widely used in artificial sapphire glass and LED light applications. HPA has wide applications across multiple industry segments. For instance, HPA is used as a base raw material in the manufacturing of substrates of sapphire. It is used in producing a wide range of products such as electric vehicles, optical lenses, sodium lamps, hybrid cars, semiconductors, LED lights, lithium-ion battery separators, plasma display screens, scratch-resistant sapphire glasses for smartphones & smartwatches, and others. The high demand from application industries is expected to drive the high purity alumina market during the forecast period.

MARKET DYNAMICS
High purity alumina (HPA) is primarily used in the manufacturing of ingots, which are then utilized in sapphire-based products, semiconductors, and LEDs. Due to various government initiatives to promote energy-efficient lighting worldwide, the production of LEDs has increased, which has led to significant growth in the HPA market. The global market for LED lighting is expected to grow at a fast pace in the coming years, which is one of the key factors fueling the demand for HPA. Moreover, the increased demand for electric vehicles is another major factor driving the HPA market.

MARKET SCOPE
The "Global High Purity Alumina Market Analysis to 2031" is a specialized and in-depth study of the high purity alumina market with a special focus on the global market trend analysis. The report aims to provide an overview of the high purity alumina market with detailed market segmentation by product and application. The global high purity alumina market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the high purity alumina market.

Strategic Insights

MARKET SEGMENTATION
The global high purity alumina market is segmented based on product and application. Based on product, the market is segmented into 4N, 5N, and 6N. In terms of application, the market is segmented into LED, semiconductor, lithium-ion battery, phosphor, sapphire, and others.

REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global high purity alumina market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Each region's high purity alumina market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.

From the regional perspective, Asia Pacific dominated the high purity alumina market with ~32% market share in 2021. The dominance of Asia Pacific is majorly due to the presence of a large number of high purity alumina manufacturers and end users located in Japan, China, and Australia. The key players are involved in capacity expansion in the region to supply the increasing demand from manufacturers of smartphones, Li-ion batteries, and LEDs located in South Korea, Japan, and South Korea.

The below figure showcases the revenue growth trend in the global high purity alumina market:

The report analyzes factors affecting the high purity alumina market from both demand and supply sides and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis, highlighting the factors affecting the high purity alumina market in these regions.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 outbreak reflected a decrease in demand for HPA globally, which was evident by significantly lower volumes of orders among end users, resulting in a lower production volume. The decline in production volumes adversely affected the businesses of various HPA manufacturers. Thus, the procurement of high purity alumina declined during the initial phase of the spread of COVID-19, negatively impacting the growth of the global high purity alumina market.

The majority decline in demand was witnessed in the sapphire industry. This is due to a drastic fall in demand for semiconductors across North America, Europe, Asia, and the Middle East. However, since the later quarters of 2021, the semiconductor sector has been strongly growing, and the growth trend is foreseen to continue over the next few years. This would propel the procurement of high purity alumina, thereby bolstering the market growth during the forecast period.

High Purity Alumina Market Report Analysis

High Purity Alumina Market

• 
  CAGR (2023 - 2031)

  15.10%
• Market Size 2023
  US$ 2.78 Billion
• Market Size 2031
  US$ 8.57 Billion

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Alcoa Corporation
• Altech Chemicals Ltd
• Baikowski
• HMR, Co., Ltd.
• Nippon Light Metal Holdings Company, Ltd
• Norsk Hydro ASA
• Orbite Technologies, Inc.
• Polar Sapphire Ltd.
• United Company RUSAL Plc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Product

• 4N
• 5N
• 6N

By Application

• LED
• Semiconductor
• Lithium-Ion Battery
• Phosphor
• Sapphire

MARKET PLAYERS
The reports cover key developments in the high purity alumina market such as various organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategies witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players in the high purity alumina market are anticipated to have lucrative growth opportunities in the future with the rising demand for high purity alumina. Below mentioned is the list of a few companies engaged in the high purity alumina market.

The report also includes the profiles of key high purity alumina market companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years.

• Sumitomo Chemical Co., Ltd
• Altech Chemicals Ltd.
• Almatis, Inc.
• Nippon Light Metal Holdings Co., Ltd.
• Baikowski
• Polar Sapphire Ltd.
• Orbite Technologies Inc.
• Zibo Honghe Chemical Co., Ltd.
• CoorsTek Inc.
• FYI Resources Limited

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

High Purity Alumina Market Report Scope