High Purity Alumina Market: Key Highlights
·
The high purity alumina market was valued at ~ US$
1.1 Bn in 2017, and is anticipated to expand at a
robust CAGR of ~15% during the forecast period.
·
Expansion
of the high purity alumina market is primarily driven by its rising demand from
manufacturers of LEDs, lithium-ion batteries, and related products. The demand
for LED products has increased significantly in developing economies such as
China, Japan, Taiwan, and South Korea, due to increasing regulations pertaining
to the use of incandescent bulbs.
·
HPA is
used in the coating of lithium-ion battery separators, found in electric
vehicles and portable electronics. The rising use of sapphire glass by
smartphone manufacturers is adding to demand for HPA.
Key Drivers of High Purity Alumina Market
·
Currently,
LED bulbs reduce electricity consumption by 85% as compared to
incandescent light bulbs, and by 40% as compared to
fluorescent lights. With developments in technology, LEDs are expected to save
electricity by 90% and 50% as compared to
incandescent light bulbs and fluorescent lights, respectively, by 2020.
·
LEDs last
50 times longer than incandescent lights, and three to seven times longer than
fluorescents. In addition, LED bulbs provide superior light quality than
compact fluorescent lights (CFLs).
·
Production
costs of LEDs and related products have declined over the recent past.
Furthermore, this trend is expected to continue over the forecast period. Thus,
steady rise in the demand for LEDs and the corresponding increase in LED
production are expected to drive the HPA market during the forecast period.
·
Despite
their energy efficiency, LEDs have been used exclusively in electronic devices
(screens for cell phones, computers, and TVs). Technological advances have
progressively reduced manufacturing costs. Coupled with a regulatory focus on
energy efficiency, these reductions are opening up new opportunities for LEDs
to enter the lighting sector. With a further decline in production costs
expected and rise in environmental concerns, LED lighting is expected to be a
lucrative area for the HPA market in the coming years.
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Asia Pacific a Prominent High Purity Alumina Market
·
In terms
of revenue, Asia Pacific constituted a significant share of the high purity
alumina market in 2017. Expansion in automotive and LED lighting
industries is estimated to provide lucrative opportunities to the HPA market
during the forecast period.
·
North
America recorded significant sales of high purity alumina in 2017. This
is primarily due to the rise in research activities in higher grades of high
purity alumina by various leading companies in the region. Additionally,
increase in the number of stringent regulations on carbon and dust emission is
compelling manufacturers to opt for high purity alumina-based coatings with
high hardness and wear resistance, typically in lithium-batteries separators.
·
The high
purity alumina market in Europe is expected to expand at a moderate pace during
the forecast period. The rising demand for energy-efficient LEDs and increasing
mergers and capacity expansion activities among LED manufacturers in Germany,
the U.K., and France are expected to drive HPA sales during the forecast
period.
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Share of Prominent HPA Market Players
·
The high
purity alumina market is dominated by a few major players, which generates
intense competition. Key producers of high purity alumina depict a medium to
low level of forward integration. This provides a distinct competitive
advantage to market leaders in the HPA market. The entry of several small- to
medium-scale manufacturers has intensified the competition in the high purity
alumina market.
·
Companies
such as Hebei Heng Bo New Material Technology Co. Ltd., Zibo Xinfumeng
Chemicals Co., Ltd., and Xuan Chen Jing Rui New Material Co., Ltd. are
leading manufacturers in the HPA market in China.
·
Sumitomo Chemical Co. Ltd., Nippon Light Metal Co. Ltd., and HMR Co.
Ltd. have a wide presence in Japan and South Korea. Baikowski SAS and Sasol Ltd. are the major players operating
in high purity alumina market in the U.S. and Canada. Polar Sapphire Ltd. has
widespread operations across Canada.
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