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Industry Insights, Market Size, CAGR, High-Level Analysis: Global High Purity Alumina MarketThe global high purity alumina market was valued at USD 1.83 billion in 2018 and is expected to grow at a CAGR of 20.3% from 2019 to 2025. The market growth is majorly driven by increasing production of LED and growth in the electric vehicles market. High purity alumina (HPA) is majorly used in production of sapphire ingots, which are further used in LED, semiconductor, and sapphire-based products. The increasing government initiatives towards energy-efficient lighting has boosted the production of LED, thereby, driving the HPA market growth. Global LED lighting market is expected to grow at a CAGR of 11.8% during the forecast period. The key driving factors behind the market growth include the declining prices of LEDs, increasing consumer awareness about its cost-effectiveness, ecofriendly aspect, and growing use in the automotive industry for applications including adaptive driving. The growth in the LED market is anticipated to positively influence the HPA consumption over the forecast period. The growing production of electric vehicles (EVs) is another major driver for the high purity alumina market. The demand for lithium-ion batteries is extensively increasing on account of growing EV production. This has resulted in rapid consumption of HPA, as it is used for coating the lithium-ion battery separators. According to IEA, global electric car sales is expected to reach 23 million and stock of EVs is projected to exceed 130 million vehicles by 2030. As of 2018, China and the U.S. dominate the global EV market, in terms of growth. The U.S. EV sales grew by 81% from 2017 to 2018. The increasing EV sales is anticipated to propel market growth in near future.
Application Insights of Global High Purity Alumina MarketBased on application, the market has been segmented into LED, semiconductors, phosphor, sapphire, lithium-ion battery, and others. LED application segment held the largest market share in 2018 and this trend is expected to continue over the forecast period. The rising need for energy conservation supported by initiatives such as the Paris Agreement for limiting the temperature increase to below 2°C in order to combat global warming are propelling the development of policies to support energy-efficient technologies. This is anticipated to have an extremely positive impact on the consumption of LEDs. Semiconductor was the second-largest application segment in 2018, accounting for a volume share of 22.1%. Sapphire substrates in semiconductors possess properties such as thermal stability, chemical stability, and high strength, which make them applicable in electronic devices. The growing electronics industry is positively influencing the increased production of sapphire substrates, thus rising consumption of HPA. Sapphire application segment is anticipated to grow at a CAGR of 18.7%, in terms of volume, over the forecast period. The growth rate of the segment is attributable to growing usage of sapphire glass in electronics, wearables, and smartphone displays. Renowned smartphone manufacturers such as Apple, HTC, Xiaomi, etc. make use of sapphire glass in their phones. For example, Mi Mix Alpha is made of a single piece of sapphire glass and is expected to go on sale in China in December 2019. The increasing production of smartphones is propelling the consumption of sapphire glass, and thus augmenting the growth of the global HPA market.
Product Insights of Global High Purity Alumina MarketBased on products, the market is segmented into 4N, 5N, and 6N. As of 2018, 4N constituted the largest market share, in terms volume, owing to its low cost and abundant availability in comparison to other grades. Properties such as superior hardness & brightness, corrosion resistance, and ability to withstand high temperatures make it suitable for being use in applications such as LEDs, electric vehicles, and mining equipment. The growing demand of LEDs and electric vehicles is expected to augment the consumption of 4N HPA during the forecast period. HPA with a purity level of 99.999% is known as 5N HPA. Its characteristics such as scratch resistance, chemical stability, and extreme hardness make it suitable for sapphire production. Polar Sapphire, a key manufacturer of 5N HPA received positive feedback from sapphire producers with regard to reduction in flaws in the crystal lattice and increased transparency, which has resulted in higher yields. 6N HPA is the most expensive grade with a purity level of 99.9999%. Its properties include high thermal stability and good polishing performance. Its end-use applications are semiconductors, solid-state lasers, and sensors. Its demand is anticipated to increase owing to growing demand from aerospace & defense, automotive, healthcare, and electronic industries.
Regional Insights of Global High Purity Alumina MarketIn terms of revenue, North America is expected to register a growth rate of 14.4%, during the forecast period. The growing demand from the end-use industries is propelling the HPA manufacturers to increase their production capacities. For example, in 2016, Orbite Technologies Ltd. invested over USD 122 million to construct a new HPA production plant in Quebec, Canada. The increasing demand for LED lighting is supported by various programs in the region. For instance, in 2015, the Climate Group along with Signify made a global call for all public lighting to be LEDs by 2025. Major cities like Chicago replaced 270 thousand old street lights that will lead to a saving of USD 100 million over a period of 10 years, in addition to avoiding 11 thousand tons of carbon dioxide. Increasing LED lighting adoption in the region is anticipated to augment high purity alumina market. Europe is anticipated to advance at a CAGR of 14.9% in terms of revenue over the forecast period. The growth is attributable to the rising production of lithium-ion battery separators and LEDs in major countries such as Germany, UK, Russia, and France. Major players in Europe, such as Polar Sapphire Ltd., are adding working on new technologies to enhance the product quality and increase their production capacities. Asia Pacific emerged as the largest regional market accounting for a revenue share of 67.3% in 2018 and this trend is expected to continue over the forecast period. Major players in Asia Pacific market are located in Australia, China, and Japan. These players are involved in capacity expansion to meet the rising demand from LEDs, lithium-ion battery, and smartphones in the developing countries such as India, Japan, and South Korea. Japan was the second-largest country in Asia Pacific HPA market in terms of volume. The share is attributable to rising HPA demand from electrical & electronics, automotive, and aerospace & defense industries in the country. According to IEA, Japan is expected to account for 21% of the global sales of electric vehicles by 2030. This shall lead to growing consumption for HPA in lithium-ion battery separators over the forecast period.
High Purity Alumina Market Share InsightsThe global market is consolidated in nature with the presence of key players such as Sumitomo Chemical Co., Ltd., Nippon Light Metal Holdings Co., Ltd., Altech Chemicals Ltd., Baikowski, and Pure Alumina. These players are engaged in increasing their production capacities and geographical presence to cater to the growing demand for a larger target market. In August 2018, Altech Chemicals Ltd. inaugurated its new plant in Malaysia. Once the expansion is complete, the HPA production capacity will reach 4,500 ton per annum. The capacity addition aimed at catering the growing demand from synthetic sapphire and lithium-ion battery separators.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global High Purity Alumina Market Research ReportThis report forecasts revenue and volume growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global high purity alumina market on the basis of product, application, and region:
Product Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)
Application Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)
- Lithium-ion battery
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.2 Market Definition, Research Scope and Assumptions 1.3 Research Methodology 1.4 List of Data Sources 1.5 Information Procurement 1.6 Information Analysis 1.7 Market Formulation & Data Visualization 1.8 Data Validation & PublishingChapter 2 Executive Summary 2.1 Market Outlook 2.2 Segmental OutlookChapter 3 High Purity Alumina Market Variables, Trends, & | read more...