Polaris Market Research’s new report indicates that the global High Purity Alumina Market generated USD 1.82 billion in 2017 and is anticipated to grow at a CAGR of 16.5% from 2018 to 2026.
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High purity alumina is a high-value, and highly demanded product. It is one of the purest forms of aluminum oxide and forms a critical ingredient for the production of synthetic sapphire. Synthetic sapphires are used in the manufacturing of substrates used in LED lights, or the semiconductor wafers required in the consumer electronics industry. It is also used in the wristwatch faces, optical windows and smartphone components that uses scratch-resistant sapphire glass. In the manufacturing of synthetic sapphire there is no substitute for high-purity alumina. The rise in demand for better display in the electronics as well as rise in commercialization of LED that uses high purity alumina has been some of the key driving factors for the growth of the high purity alumina market globally. However, presence of certain substitutes like copper used in the electronics sector as well as the high cost of production are some of the major restraints to have a negative effect on the growth of high purity alumina market. The growing demand for smart electronics and smart wearables will further provide numerous opportunities to the manufacturers of the high purity alumina market.
A few of the major business strategies adopted by companies present in the global high purity alumina market are innovations in product & technology, geographical expansion and mergers & acquisitions among others. For example, Orbite Aluminae Inc. formerly known as Exploration Orbite V.S.P.A. Inc has been working on the completion of 3 tonnes/day 5N high purity alumina production plant that utilizes HCL acid extraction from the aluminous clay. In addition, it is the Altech Chemicals Ltd formerly known as Australian Minerals and Mining Group Ltd that is working on a reaction of a relatively low impurity kaolin with HCL acid for producing 4N high purity alumina in a 4,000 tonnes pa capacity plant.
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The global high purity alumina market is divided on the basis of purity level, application, and technology. Based on application, the market comprises of semiconductor, sapphire, phosphorus, and electronic display. The electronic display held the largest market share among all other application areas for the forecast period of 2018-2026 in the high purity alumina market. The growth can be attributed to the high demand of LED that uses high purity alumina form better resolution and display features. The energy consumption of LED is comparatively less than the normal lights which makes it sustainable for the environment and has also resulted in higher government focus on promoting the LED technology. This is turn is going to have a positive impact on the demand for high purity alumina globally. Considering the purity level, the market is segmented into 4N (99.99% Al2O3), 5N (99.999% Al2O3), and 6N (99.9999% Al2O3). The 4N purity level of alumina held the largest market share because of its applications in the lithium-ion batteries that are used commercially for most of the electronic devices. On the basis of technology, hydrolysis held a larger market share followed by HCL based because of the low operational cost and better feasibility in terms of usage.
The leading players operating in the global high purity alumina market are Altech Chemicals limited, Sumitomo Chemicals Co. Ltd., Nippon Light Metal, Alcoa Inc., Baikowski Pure Solutions, Orbite Technologies Inc., and Polar Sapphire Ltd. among others.
Key Segments
Purity Level
Application
Technology
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