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High purity alumina market from hydrolysis segment was valued at over USD 1.70 Billion in 2022 and is predicted to grow at a CAGR of over 13% through 2032. It is projected that the benefits of hydrolysis technology, including its ability to create ultra-fine alumina powder with a diameter of less than 10 microns, high output rate, smooth reaction, and safety, would increase the production of high purity alumina and speed up market statistics.
In terms of products, the high purity alumina market is segmented into 4N, 5N, and 6N. The 4N phosphor segment was estimated to be over USD 7 Billion in 2022 and is expected to grow at CAGR of over 14.5%. This is anticipated to be accelerated by the surging adoption of phosphor-based products like plasma televisions, which require high purity alumina to regulate phosphor characteristics which provide an inert environment and control temperature.
The application spectrum of high purity alumina market is made up of LED, Semi-conductor, Phosphor, Sapphire, and others. The LED applications segment surpassed USD 1 Billion in 2022 and is projected to grow at over 13% CAGR between 2023 and 2032. When compared to conventional lighting, there are numerous advantages of LED lighting including their minimal maintenance needs, extended lifespan, environmental friendliness, high luminous efficiency, and dependability. The growing inclination towards LED lighting owing to its aforementioned features is predicted to increase demand for high purity alumina for LED applications.
The high purity alumina market share of North America is predicted to reach $1.2 billion by 2032. The regional industry share is expected to be driven by rising demand for lithium-ion batteries in consumer electronics goods due to their light weight, good thermal stability, and safety as well as high manufacturing and recycling rates. Additionally, the efforts to deploy more large-scale energy storage at federal sites and supportive regulatory backdrop related to the production of advanced batteries in the US will supplement the regional market share.