New York City, 08 February 2019: The global High Purity Alumina Market is expected to
reach USD 7.20 billion by 2026 according to a new study published by Polaris
Market Research.
The global
high purity alumina market has been divided based on purity level, application,
and technology. Considering the purity level, the market is classified into 4N,
5N, and 6N. It is the 4N level of purity held the largest market share in the
market followed by 5N and 6N. The enormous application of the lithium-ion
batteries where the 4N purity level of alumina is maintained has resulted in the
segment holding the largest market share of more than 40% and will continue to
maintain its dominance in the forecast period of 2018-2026.
On the basis
of application, the high purity alumina market comprises of semiconductors,
sapphire, phosphorus, and electronic display among others. Here the electronic
display held the largest market share which can be contributed to the huge
demand for LED-based electronics globally. Moreover, the LED is more
environment-friendly and sustainable that has led to the government pushing the
application of LED making it one if the fastest growing technology globally.
The market
for high purity alumina is also bifurcated by technology into hydrolysis, and
HCL based. It is the hydrolysis segment that held the largest market share
because of its feasibility and lower operational cost. The HCL based technology
still is at a nascent stage and needs more time to get commercialized.
A few major
driving factors for the high purity alumina market are growing demand for
high-resolution electronics like television and smartphones that use high
purity alumina for better display. Moreover, the rise in demand for smart
wearables and other technological devices that uses LED is further having a
positive impact and driving the market for high purity alumina globally. Among
the regions, Asia-Pacific is expected to hold the largest market share in the
global high purity alumina market over the forecast period of 2018-2026,
followed by North America and Europe.
Some of the
major business strategies adopted by companies operating in the high purity
alumina market are innovations in product and technology, geographical
expansion, and mergers & acquisitions among others. For example, Altech
Chemicals Ltd formerly known as Australian Minerals and Mining Group Ltd that
is working on a reaction of a relatively low impurity kaolin that is 1.4% Fe2
O3 +TiO2 with HCL acid for producing 4N HPA in a 4,000 tonnes pa capacity
plant. In addition to this, Orbite Aluminae Inc. formerly known as Exploration
Orbite V.S.P.A. Inc has been working on the completion of 3 tonnes/day 5N high
purity alumina production plant that utilizes HCL acid extraction from the
aluminous clay.
Competitive Landscape:
The leading
players operating in the high purity alumina market globally are Altech
Chemicals limited, Sumitomo Chemicals Co. Ltd., Nippon Light Metal, Alcoa Inc.,
Baikowski Pure Solutions, Orbite Technologies Inc., and Polar Sapphire Ltd.
among others.
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