High Purity Alumina Market to grow by USD 3.5002 from 2022 to 2027; Rising adoption of LED lighting to influence market growth - Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The high purity alumina market is estimated to grow at a CAGR of 25.5% between 2022 and 2027, with the market size forecast to increase by USD 3,500.2 million, according to Technavio. The growing adoption of lithium-ion batteries in energy storage systems is a major trend in the market. Energy storage systems are used to store electrical energy for later use when needed. These systems have enabled changing dynamics of energy production and are widely adopted across the globe. High energy density, convenient size, and high efficiency are the key elements of lithium-ion batteries, which are widely used in electrochemical energy storage systems. In addition, falling prices of lithium-ion batteries and growing demand for energy storage systems, due to the rapid popularity of renewable energy, will support the consumption of energy storage systems. Thus, such factors are expected to drive market growth during the forecast period. View the new Sample Report within minutes!

High Purity Alumina Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our high purity alumina market report covers the following areas:

• High Purity Alumina Market size
• High Purity Alumina Market Trends
• High Purity Alumina Market industry analysis
• High Purity Alumina Market five forces analysis
• High Purity Alumina Market competitive landscape

High Purity Alumina Market 2023-2027: Market Dynamics

Key Driver

The rising adoption of LED lighting technology is the key factor driving market growth. This is due to the high adoption of smart lighting systems in various industries and the growing concern about the depletion of non-renewable power generation sources. High consumption of LEDs in the residential segment and heavy use of streetlights in general lighting applications are some of the growth factors. Furthermore, several manufacturers are focusing on energy-saving and environmentally friendly lighting technologies such as LEDs due to the need to reduce electricity consumption and the growing awareness of green technology. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges - The high cost of production of HPA is a significant challenge restricting market growth.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

High Purity Alumina Market 2023-2027: Segmentation
High Purity Alumina Market is segmented as below:

• Application 
• LEDs
• Semiconductors
• Phosphors
• Others
• Type 
• 4N HPA
• 5N HPA
• 6N HPA
• Geography 
• APAC
• North America
• Europe
• South America
• Middle East and Africa

The market share growth in the LEDs segment will be significant during the forecast period. High-purity aluminum oxide is primarily used as a base material to produce synthetic sapphire crystals. These crystals are also used as substrates in the manufacture of LEDs. LEDs that use sapphire crystals as substrates have high brightness. In addition, sapphire is widely used as a base substrate for LEDs because it has excellent properties such as the high heat resistance necessary for crystal growth. Hence, the growing adoption of LED bulbs and lights over conventional lights and lamps is expected to drive segment growth during the forecast period.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

High Purity Alumina Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 companies operating in the High Purity Alumina Market, including some of the companies such as Alpha HPA Ltd., Altech Advanced Materials AG, Altech Chemicals Ltd., AluChem Inc., Baikowski SA, CoorsTek Inc., Devtaar GmbH, FYI Resources Ltd., HPA Sonics, Nippon Light Metal Co. Ltd., Norsk Hydro ASA, Orient Abrasives Ltd., Oyak, Polar Sapphire Ltd., Sasol Ltd., Sumitomo Chemical Co. Ltd., United Company RUSAL, Vizag Chemical International, Advanced Energy Minerals, and Alcoa Corp. 

Company Offering

• Altech Advanced Materials AG - The company offers high-purity alumina such as Ultra High Purity Alumina Powder and Tablets.
• Alpha HPA Ltd. - The company offers high purity alumina such as ultra-pure alumina and other aluminum derivative products.
• Baikowski SA - The company offers high-purity alumina and related products such as alumina-coated composite silicon and graphite lithium-ion battery anode material.

High Purity Alumina Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist high-purity alumina market growth during the next five years
• Estimation of the high-purity alumina market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the high-purity alumina market
• Analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of high-purity alumina market companies

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Table Of Contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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SOURCE Technavio