Home > Bulk & Specialty Chemicals > High Purity Alumina (HPA) Market
High purity alumina market size was valued at USD 1,798.1 million in 2020 and will grow at a CAGR of 15.1% from 2021 to 2027. The rapid rise in demand for the electronics and associated industries is expected to increase the demand for high purity alumina.
High Purity Alumina (HPA) is a high purity product form of Aluminum Oxide (Al2O3) and is extensively used in non-metallurgical applications. The HPA is used as a base fundamental material to manufacture substrates of sapphire, which has wide applications across multiple industry segments. It is used to produce a wide range of products such as scratch-resistant sapphire glasses for smartphones & smartwatches, plasma display screens, lithium-ion battery separators, LED lights, semiconductors, hybrid cars, sodium lamps, optical lenses, electric vehicles, and others.
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Value-added features such as reliability, durability, brightness, and low heat radiation have led to increasing adoption of LED-based lighting solutions, initiating an upward shift in the market. Supply deficit is observed in the high purity alumina market owing to extensive use of High Purity Alumina (HPA) products across different industry verticals. It is likely to be overcome by advancements in technology used to extract the product from aluminum clay resources.
Due to the COVID-19 pandemic, the volume and revenue declined in 2020 but the drop in revenue is expected to recover and grow at a significant rate over the projected period. According to the Semiconductor Industry Association, China accounted for over half of the world’s semiconductor consumption. The reliance on China is impacting the global supply chain as the COVID-19 pandemic has affected both consumers and companies.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | 4,948.1 Million (USD) |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 18.3% |
2027 Value Projection: | 1,798.1 Million (USD) |
Historical Data for: | 2017 to 2020 |
No. of Pages: | 285 |
Tables, Charts & Figures: | 358 |
Segments covered: | Technology, Product, Application, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Furthermore, travel restrictions and factory closures pose a high risk due to dependency on a single location for critical products such as semiconductors. Industries have generally concentrated their operations at various geographic locations to minimize risks associated with a particular location. As high purity alumina is a critical element used in semiconductor manufacturing, slowdown in the semiconductor sector will negatively impact the high purity alumina market share.
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In 2020, the hydrolysis process generated over USD 1 billion in HPA market. This is a widely preferred viable practice for HPA synthesis. After the alcohol addition to aluminum metal, high purity aluminum alkoxide is formed, which further aids in the synthesis of alumina. Lastly, the final product is further obtained through the calcination process. The hydrolysis has added advantage in terms of reduced operational costs as it can recover and reuse the acids, which are potentially wasted in the production process.
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4N segment holds a 70% share in high purity alumina market volume. The variants vary based on the level of purity. 4N possesses lower percentages of Al2O3 (99.99%) than 5N (99.999%) and 6N (99.9999%). 4N is the most significant segment and usually seeks its demand from LED bulbs and electronic displays. Stringent regulation norms on using less energy consuming light sources have led to a shift in the market, thus boosting the segment penetration.
The end-use application of 5N and 6N is responsible for the high rate of adoption from the sector. Electronic products are experiencing an increasing adoption in the manufacturing of PCs, TVs, DVD/HDDs, and other electronic materials.
The industry has a significant application in semiconductors, LEDs, sapphire, phosphor, and other markets. LED segment will witness over 15% CAGR 0and hold a prominent market share due to the rising usage of LED-based equipment across the globe. The increase in LED demand is due to an increasing technological shift from traditional bulbs to energy-efficient and high-performing LED counterparts. Ongoing researches are crucial to the advancement of the LED technology, which is fast becoming an avenue to reduce electricity consumption.
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The Asia Pacific will generate over USD 3 billion by 2027. Moreover, China accounts for over 60% by volume in the Asia Pacific region. This is attributed to easy access to economical labor and raw material for manufacturing, which is the driving force for high purity alumina market expansion. Growth in the region can be mainly attributed to the rising usage of electronics and increasing adoption of LED lights across the region. Another major driving factor of the regional growth is the automotive sector. The product is used in lithium-ion batteries, which find application in automotive at large.
The major players operating in the high purity alumina industry includes Altech, Baikowski SA, 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. Manufacturers are diverting large sums in R&D operations to develop new production methods with low-cost.
The high purity alumina (HPA) market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2017 to 2027 for the following segments:
The above information is provided on a regional and country basis for the following: