High Purity Alumina Market projected to exceed $4.5 billion by 2027, says Global Market Insights Inc.

Increasing demand from the downstream manufacturing industry is expected to drive high purity alumina demand, says this report.

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Global Market Insights Inc.

Feb 16, 2021, 08:36 ET

SELBYVILLE, Del., Feb. 16, 2021 /PRNewswire/ -- Based on Global Market Insights Inc., report, the High Purity Alumina Market size was estimated at $1798.1 million in 2020 and is slated to surpass $4.5 billion by 2027, registering a CAGR of 15.1% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.

Alumina is widely used in a variety of applications as it has superior chemical & physical properties such as high heat resistance, excellent electrical isolation, high corrosion resistance, and abrasion resistance. The industry is witnessing a steady growth owing to the proliferating semiconductor sector. HPA is a fairly new industrial-use material employed in the fabrication of semiconductor devices.

The demand for semiconductors is affected by several different underlying end-user applications including data processing, consumer electronics, and communication that account for a prominent share. Its applicability in personal computers, gaming consoles, tablets, television, servers, and iPods has escalated the demand for high-definition display screens, which will subsequently augment the high purity alumina market share.

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The demand for HPA is expanding in fields, such as display materials, energy, semiconductors, computers, and automobiles. In the field of liquid crystal display manufacturing equipment and semiconductors manufacturing equipment, a significant number of alumina components with a high level of plasma corrosion-resistant is utilized. Additionally, these are used for incorporating plasma spray coatings on aluminum, chromium, zinc, nickel, zirconium, or other similar alloys.

The ongoing COVID-19 pandemic has significantly disrupted high purity alumina market size owing to the demand crunch in several parts of the world. The virus is highly contagious due to which most of the nations have announced the repetitive imposition of stringent lockdowns and movement restrictions on domestic and international trade & travel. These restrictive factors have a significant impact on the product demand. However, the industry is expected to rebound in 2021 with the establishment of strict guidelines and demand gradually returning to normalcy.

High purity alumina can be produced in different ways, the most common being the hydrolysis of aluminum alkoxide. The hydrolysis segment will witness around 15% CAGR as the process is used by the majority of manufacturers in the sector and involves costly & highly processed raw materials including aluminum metal. Altech has patented the production technology to obtain up to 4N grade HPA directly from aluminous ores such as kaolin or aluminous clay. The company has also invented a flexible finished product line capable of manufacturing HPA products for the synthetic sapphire industry and the lithium-ion battery sector. Another major manufacturer, Orbite, has developed and patented a process for obtaining superior-grade HPA using fly ash as the principal feedstock

The 6N is a very niche product segment and holds a significant share in the high purity alumina market. The purity level of 6N is 99.9999% and is used in thin-film & sputtering applications. In addition, it is utilized in abrasive, alumina ceramics, and separation membranes. Such high purity grade alumina finds very specific applications and costs exorbitantly higher than the other two product categories. Development in cost-effective production techniques may reduce segment pricing in the future.

The phosphor segment is poised to witness around 15% CAGR in high purity alumina market size. A rapid surge of phosphor-based equipment and appliances including plasma TVs in which pure alumina is used to control & regulate the characteristics of phosphorous products is anticipated to rise and aid in increasing the product market during the forecast timeframe.

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Latin America high purity alumina market size will cross over USD 350 million by 2027 with the expansion in regional LED manufacturing. It is due to cost-effective labor, easy availability of raw materials, and abundance of land. The product is widely used in the manufacturing processes of electronic goods. The Middle East & Africa will witness steady growth owing to the lack of manufacturing sectors in the region. However, fast-developing scenarios in the Gulf countries, especially Saudi Arabia, will have a significant influence on the regional high purity alumina market growth over the forecast span.

Strategic mergers and acquisitions by high purity alumina industry players to increase regional presence. Major players comprise Altech, Baikowski SAS, Alcoa Corporation, Orbite Technologies, Inc., Nippon Light Metal Holdings Company Ltd., Norsk Hydro ASA, United Company RUSAL Plc, Rio Tinto Alcan, Hebei Pengda Advanced Materials Technology Co., Ltd., Shangdong Keheng Crystal Material Technologies Co., Ltd., Zibo Honghe Chemicals Co., Ltd., Chalco Shangdong Co., Ltd., and Polar Sapphire.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.

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SOURCE Global Market Insights Inc.