High Purity Alumina Market Worth 5.09 Billion USD by 2020
PUNE, India, March 16, 2016 /PRNewswire/ --
The report "High Purity Alumina Market by Purity Level (4N, 5N, 6N), by Application (Light Emitting Diode, Semiconductor, Phosphor, Sapphire, Others), by Region (Asia Pacific, North America, Europe, Rest of the World) - Global Forecast to 2020", published by MarketsandMarkets, The global HPA Market is projected to reach USD 5.09 Billion by 2020, at a CAGR of 20.1% from 2015 to 2020.
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The increasing applicability of high purity alumina among varied end-user applications, such as LEDs, semiconductors, phosphor, and sapphire, among others is expected to drive the market for high purity alumina during the forecast period.
Among all types of purity levels, the 4N segment led the high purity alumina (HPA) market
The 4N segment led the global high purity alumina (HPA) in 2014, and accounted for the maximum market share in terms of volume. This segment is projected to grow at the highest CAGR during the forecast period.
Increase in demand of high purity alumina from the LED industry
The LED application segment led the global High Purity Alumina (HPA) Market in 2014, and is projected to grow at the highest CAGR between 2015 and 2020. The growing adoption of LEDs in varied industrial applications, such as home lighting, televisions, hybrid cars, and electric vehicles is driving the growth of the LED application segment in the high purity alumina market.
Asia-Pacific led the global high purity alumina (HPA) market
In terms of value, the Asia-Pacific region led the high purity alumina (HPA) market in 2014, by accounting for the maximum market share. In terms of volume, the high purity alumina (HPA) market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Recently, varied industries have shifted their manufacturing units to the Asia-Pacific region, due to availability of cheap labor and affordable raw materials. This is expected to drive the growth of the high purity alumina (HPA) market in the Asia-Pacific region.
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An in-depth market share analysis, in terms of revenue, of top companies is also included in the report. The numbers obtained are based on key facts, annual financial information from SEC filings, annual reports, and interviews with industry experts and key opinion leaders, such as CEOs, directors, and marketing executives. The key players in this market include Altech Chemicals Limited (Australia), Alcoa Inc. (U.S.), Orbite Technologies Inc. (Canada), RUSAL (Russia), and Sumitomo Chemical Co., Ltd. (Japan), among others.
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