Global High Purity Alumina (HPA) Market to Benefit from Rising Demand from Asia Pacific

The global high purity alumina (HPA) market will expand at a 6.90% CAGR during the forecast period from 2015 to 2021, states Persistence Market Research (PMR) in its latest report. In 2014, the global high purity alumina market was estimated at US$1.2 bn and by 2021, the market is expected to be worth US$3.6 bn.

The global high purity alumina (HPA) market is broadly egmented on the basis of product type, application, and region. Let us look at the key growth segments of the global high purity alumina market.

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Top Growth Segments of Global High Purity Alumina (HPA) Market

  • LED: One of the major applications of high purity alumina is the manufacturing of synthetic single crystal sapphires, where it is used as a base substrate for making LEDs. LEDs find their application in backlights in electronics, LED-backlit LCDs, and in general lighting products. According to this report, the global packaged LED production is experiencing a substantial annual growth rate of 9-11%. This is projected to drive the demand for HPA, which finds its application in the manufacturing of LEDs. The LED application segment is projected to progress at an 18.0% CAGR between 2015 and 2021.

  • 4N HPA: By product type, the global high purity alumina (HPA) market is segmented into 4N, 5N, and 6N. In 2014, the 4N HPA segment dominated the global high purity alumina market and held a 54.1% of the market in terms of volume. This segment is projected to continue its dominance in the near future as well.

  • Asia Pacific: Based on region, the global high purity alumina (HPA) market is classified into North America, Latin America, Europe, and the Middle East and Africa. In 2014, Asia Pacific led the global high purity alumina market with a share of around 60%, in terms of volume.

  • North America: The North America segment for high purity alumina ranked second in the global high purity alumina (HPA) market with a share of 13% in 2014. During the forecast period, the North America HPA market is projected to expand at a marked CAGR of 16.70%.

These were the four key growth segments of the global high purity alumina (HPA) market, which will drive the demand for HPA worldwide. The global high purity alumina market is driven by the rising demand for LED lighting and displays. In addition to this, the global high purity alumina market will benefit from the expanding application in smartphones and the rising support from the government for production of HPA-related products.

Nevertheless, the global high purity alumina (HPA) market will witness challenge from the increasing purchase and related costs of high purity aluminum. Two key trends that are projected to impact the global high purity alumina market in the coming few years are the increasing manufacturing of HPA from aluminum waste and the growing focus on R&D to deliver product customization.

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These two trends are projected to offer good growth opportunities to companies operating in the global high purity alumina (HPA) market. The global high purity alumina market is dominated by a handful of companies. The leading companies operating in the global high purity alumina market are Altech Chemicals, Alcoa, Orbite Technologies, Nippon Light Metal, Sumitomo Chemical, and Dalian Highland Photoelectric Material.

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