The global high-purity alumina market to grow at a CAGR of 27.11% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global high-purity alumina market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market. In addition, the report discusses the major drivers influencing the market growth and the challenges faced by the vendors and the market as a whole. It also examines key emerging trends and their influence on the current and future market scenarios. The report also discusses the regional segmentation for each geography.
According to the report, a key growth driver is the growing adoption of LED lighting systems and displays. In 2015, single-crystal sapphire used in LED manufacturing accounted for 55.09% of high-purity alumina production. LED lighting technology provides energy efficiency, durability, sustainability, and safety, which are fueling its use in housing and commercial applications.
LEDs offer more advantages than incandescent lighting, which is fast losing market share among end-users. The global LED lighting market for industrial applications was $2.34 billion in 2015 and is anticipated to reach $6.26 billion by 2020, expanding at a CAGR of 21.75%.
Further, the report states that one challenge that could hamper market growth is the rising cost of production. Power prices account for a significant share of the aluminum production cost. Due to increasing demand for energy, the prices are shooting, leading to the closure of many smelters.
The traditional high-purity alumina production method, which enhances the purity of alumina, results in massive exploration, mining, labor, reagents, and energy costs. Production costs increase mainly because of the significant amount of electricity consumed during the process. Also, any increase in energy tariff affects a vendor's profit margins.
- Norse Hydro
- Orbite Technologies
- Rio Tinto Alcan
- Sumitomo Chemical
- Zibo Xinfumeng Chemicals
Other prominent vendors
- Hong Fu Crystal Technology
- Kyushu Mitsui Aluminium
- Dalian Hiland Photoelectric Material
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Segmentation by application
Part 07: Segmentation by product type
Part 08: Geographical segmentation
Part 09: Key leading countries
Part 10: Market drivers
Part 11: Impact of drivers
Part 12: Market challenges
Part 13: Impact of drivers and challenges
Part 14: Market trends
Part 15: Vendor landscape
Part 16: Key vendor analysis
Part 17: Appendix
For more information visit http://www.researchandmarkets.com/research/x9wnth/global_high
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SOURCE Research and Markets