High Purity Alumina Market Size worth over $4.5 billion by 2027

According to a new research report by Global Market Insights, Inc., the High Purity Alumina Market is likely to exceed USD 4.5 billion by 2027. Increasing production and consumption of electronic goods will propel the product demand during the forecast period.
 

High purity alumina is a pure form of aluminum oxide. The industry is witnessing a steady growth in the semiconductor industry as the product is a fairly novel industrial material employed in the fabrication of a semiconductor device. It also finds application in wafer processing equipment owing to its favorable characteristics such as high bending strength and high protection against plasma corrosion.

 

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The demand for semiconductors is influenced by several underlying applications, such as data processing, communication, and consumer electronics, that account for a prominent share of applicability in tablets, personal computers, television, gaming consoles, servers, and iPods. Hence, the growing demand for high-definition display screens is expected to augment the high purity alumina market demand by 2027.
 

The ongoing COVID-19 pandemic is expected to disrupt the existing ecosystem of the production sector. Companies functioning at a lower scale are expected to find it tough to sustain during the pandemic, which will further lead to an increasing number of liquidations of component & raw material manufacturers. Such trends are expected to upgrade the current business model, which will further drive the need for realignment in high purity alumina market landscape.
 

Browse key industry insights spread across 285 pages with 334 market data tables & 34 figures & charts from the report, “High Purity Alumina (HPA) Market By Technology (Hydrolysis, HCl Leaching), By Product (4N, 5N, 6N), By Application (LEDs, Semiconductors, Phosphor, Sapphire), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/high-purity-alumina-hpa-market
 

The HCl leaching technique will witness over 15% CAGR in high purity alumina market share as it is widely used as an essential key material in artificial sapphire glass and LEDs. The demand for HCl leaching processed high purity alumina is anticipated to surge owing to the rising adoption of sapphire glass, LED products, lithium-ion batteries, and smartwatches. The product is also used as a protectant in terms of coatings in the aerospace sector, aircraft engines, cars & fuel cells, and farm machinery.
 

5N to remain the fastest growing amongst other product types

The 5N grade will witness over 15.5% CAGR in high purity alumina market. It is used in the Liquid Crystal Display (LCD) and semiconductor industries in sputtering and thin-film applications. The LCD comprises a thin layer of majorly transparent liquid crystal material between electrodes. LCDs consume less power compared to other displays, making them power efficient. These factors will foster the segment in the coming years.
 

Based on application, high purity alumina market is segregated into LEDs, semiconductors, phosphors, sapphire, and others. Sapphire (SOS) semiconductors that are incorporated in Radio Frequency Integrated Circuits (RFIC) are anticipated to have steady growth rate. Other uses of sapphire including in military & defense applications are comparatively flat and are anticipated to propel the segment on a large-scale during the forecast period.
 

A sapphire substrate is expected to showcase promising growth potential in the application segment. Most of the LED manufacturers use a sapphire substrate in all or most of their products. The main factors denoting the viable substrate materials are matched lattice parameters, good crystallinity, thermal expansion coefficients, and chemical, physical & mechanical properties. Silicon possesses a poor lattice match with gallium nitride but is feasible on the cost compared to alternate sapphire substrates. By using silicon substrates, manufacturers can capitalize on the existing manufacturing infrastructure used by the semiconductor industry.
 

Presence of major manufacturers to enable North America to hold a considerable share

North America will hold over 14% share in high purity alumina market by 2027. Presence of multiple manufacturers such as Orbite Technologies in the region will support the regional penetration. Further, the positive momentum of the U.S. housing activities will propel the regional growth during the forecast spell.
 

Market consolidation by major manufacturers is observed as a key market trend

High purity alumina industry participants are increasingly resorting to acquisition & merger activities to expand their capabilities and increase their market share. Key players include Altech, Alcoa Corporation, Orbite Technologies, Nippon Light Metal Holdings Company, 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.
 

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