PUNE, India, April 18, 2017 /PRNewswire/ -- Market Research Future published a cooked research report on "Global High Purity Alumina Market" – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.
High Purity Alumina Market - Overview
The Global High Purity Alumina Market is estimated to cross USD 5,816.2 Million by 2022 and to grow over the CAGR of more than 18.56 % during the forecast period - 2016 to 2022, indicates the Study report published by Market Research Future.
The global High Purity Alumina market has experienced significant growth in 2014 and it is being projected that the global market will be moderately driven during the forecast period.
High Purity Alumina is particularly used in manufacturing of LED products and semiconductors which are largely used in the industries such as automobile, electrical & electronics, aerospace and others. LED segment has seen a growth of USD 977.6 million in 2015. The major factor that drives LED segment as the largest revenue market is its superior property like high wear resistance, long life span, low radiated heat and reliability, enlightens us the team Research Analyst while commenting upon this deep diving Market study report presented through more than 100 market data tables and figures spread in 107 numbers of pages of the project report.
High Purity Alumina Market- Key Player
The key players that drive the Global High Purity Alumina market are Alcoa Inc., Sumitomo Chemical Co., Ltd, Nippon Light Metal Holdings Co., Ltd, Zibo Xinfumeng Chemicals Co., Ltd, Sasol Limited, PSB Industries SA, Xuancheng Jingrui New Materials Co., Ltd, Altech Chemicals Limited, Hebei Pengda Advanced Materials Technology Co., Ltd and others.
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With wide-ranging of application such as home appliances, engine components, heat shield, electrical insulators and ceramics lamps in streets and sports stadium leads to significant growth of High Purity Alumina Market over the forecasted period. The factors that drive the growth of global High Purity Alumina market are increasing demand of LED products, vast application industry, ease availability of raw material and rapid industrialization in APAC region. As per analysis, APAC is contributing largest market share of 65% in 2022. North America is second followed by Europe.
The need for High Purity Alumina (HPA) is gradually rising owing to factors such as, growing demand Of LED lightings coupled with decreasing LED prices, growing demand of lithium ion batteries due to increased use of electric vehicles, increasing demand in smartphone application among others. High purity alumina is a highly pure form of aluminium oxide (Al2O3), which is also known as non-metallurgical alumina. HPA is a key raw material used in range of applications such as LED, semiconductors, phosphor. Global high purity alumina market is estimated to witness high demand in near future. According to MRFR analysis, the global high purity market value is expected to reach USD 5,816.2 million by 2022 expanding with a CAGR of 18.56%. On the basis of type, 4N accounted the largest market value share of 52% in 2015 followed by 5N and 6N. On basis of application, LED accounted for largest market share through the forecast period. LED products have high life span, durability and reliability which makes adoption rate high in end user. This increase in adoption rate is expected to boost the market in forecast period. Phosphor used in manufacturing of plasma displays and protective coatings increase the market share of HPA product. Others products like Sapphire are used in manufacturing of scratch resistance glass for smartphones and watches.
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High Purity Alumina Market - Segmentation
Widely used in the range of hi-tech applications, the High Purity Alumina's Global Market is segmented based on 3 Key Dynamics - Products, Application and region for forecasted period.
Segmentation based on Product Type: Comprising 4N - 99.99% Purity and 0.01% impurity, 5N- 99.999% Purity and 0.001% impurity, 6N- 99.9999% Purity and 0.0001% impurity.
Segmentation based on Application: Comprising LED, Semiconductors, Phosphor, others
Segmentation based on Regions: Comprising Geographical Regions
On basis of application, LED accounts for high market share of 54% in forecasted period. LED products have high life span, durability and reliability which makes adoption rate high in end user. This increase in adoption rate is expected to boost the market in forecasted period. Phosphor used in manufacturing of plasma displays and protective coatings increase the market share of HPA product. Others products like Sapphire are used in manufacturing of scratch resistance glass for smartphones and watches.
LED segment is estimated to dominate market with value share of 54.2% by 2016 end. The segment is anticipated to retain its dominance over the forecast period accounting for share of 58% in 2022. This can be attributed to growing demand in LED lightings in global market. Sapphire substrate made of high purity alumina are used in LED lightings and there is no suitable alternative available in the market. Semiconductors, which is another prominent application for high purity alumina is estimated to account strong market value share in overall market by 2016 end. The segment is anticipated to witness steady growth owing to increasing demand from SOS (sapphire on silicon) semiconductors. Furthermore, others segment which comprises applications such as, Li-ion batteries and industrial applications is anticipated to witness robust growth. The segment growth is attributed to increasing demand of Lithium ion batteries in electric vehicles.
"Asia-Pacific dominates the market during the forecast period"
For the purpose of this study, Market Research Future has segment the global high purity alumina market in five different region namely, North America, Europe, Asia-Pacific, South America and Middle East & Africa. The North American market is further divided into the US and Canada while the European market is segmented into Germany, France, UK, Italy, Spain and Rest of Europe. The Asia-Pacific market is sub divided into China, Japan, India and Rest of Asia-Pacific. The global high purity alumina market is expected to reach $5,816.2 million by the end of forecasted period i.e. 2022. Asia-Pacific has accounted the largest market share followed by North America and Europe. The Asia Pacific region offers huge growth potential for high purity alumina market and is slated to register the highest CAGR of 20.75% to reach $4,311.8 million by 2022 owing to the presence of large number of producers, cheap labor cost and growing application segment.
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