Categories: Chemicals

Global High Purity Alumina Market Expected to Reach $5.65 billion by 2028

Overview and Scope

High-Purity Alumina (HPA) is a highly pure form of aluminum oxide (Al2O3). It is often produced via the hydrolysis of aluminum oxide, hydrochloric acid leaching, underwater spark discharge with aluminum, and vapor-phase oxidation methods and is non-corrosive.

Sizing and Forecast

The high purity alumina market size has grown exponentially in recent years. It will grow from $2.47 billion in 2023 to $2.96 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased penetration of smartphones, growth in the electronics and semiconductor industry and increase in the adoption of led (light emitting diode) bulbs..

The high purity alumina market size is expected to see rapid growth in the next few years. It will grow to $5.65 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to rapid urbanization, rising government support, growing demand for electric vehicles and increasing demand for li-ion batteries used in electric vehicles. Major trends in the forecast period include strategic partnerships and collaborations to improve financial strength, strengthen product portfolio and expand geographical presence and advancing toward developing innovative product solutions to strengthen position in the market..

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Segmentation & Regional Insights

The high purity alumina market covered in this report is segmented –

1) By Type: 4N, 5N, 6N

2) By Technology: Hydrolysis, Hydrochloric Acid, Other Technologies

3) By Application: LED bulbs, Semiconductors Substrates, Li-Ion Batteries, Optical Lenses, Bio Medical Devices, Other Applications

Asia-Pacific was the largest region in the high purity alumina market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high purity alumina market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing electronics and semiconductor industries are expected to propel the high-quality alumina market going forward. Semiconductors are substances with conductivity intermediate between that of conductors (often metals) and that of non-conductors or insulators (such as most ceramics), whereas, an electronic device is any tool used for text, audio, or video communication or any other sort of computer or gadget with computer-like capabilities. High-purity alumina is used in the production of various electronics and semiconductor components due to its excellent mechanical strength, heat resistance, abrasion resistance, and insulation properties that enhance the quality of components. For instance, in October 2021, according to the Semiconductor Industry Association, a US-based trade association for semiconductors, global semiconductor industry sales were $47.2 billion in August 2021, an increase of 29.7% over the August 2020 total of $36.4 billion. Therefore, the growing electronics and semiconductors industry is driving the growth of the high-quality alumina market.

Key Industry Players

Major companies operating in the high purity alumina market report are Nippon Light Metal Holdings Company, Ltd., Alcoa Inc., Sumitomo Chemical Co., Ltd., RusAL, Sasol Limited,CoorsTek Inc., Rio Tinto, Orbite Technologies Inc., Baikowski SAS, Polar Sapphire Ltd., Altech Chemicals Ltd., FYI Resources Limited, Austral Indorganics Pvt Ltd., CHALCO Shandong Co., Ltd., Xuancheng Jingrui New Material Co., Ltd., Zibo Honghe Chemical Co., Ltd., XinRen Aluminum Holdings Limited, Shandong Keheng Crystal Material Technologies Co., Ltd, TBEA, Almatis Inc., AEM UK, Norsk Hydro, Alum Tulcea S.A., Advanced Ceramic Materials, Anovion Battery Materials LLC, Syrah Resources Limited, Rio Tinto Alcan, American Elements, H.C. Starck, First Bauxite Corporation, Alumina Limited, Norsk Hydro ASA, Companhia Brasileira de Alumínio (CBA), Vale S. A, Emirates Global Aluminum (EGA), Ma’aden, Alumco, Al Khabr, Jubail Chemical Industries Company (JANA), AECI Limited, Omnia Holdings Limited, NCP Chlorchem, Sachem, Siddex RSA (Pty) Ltd

The high purity alumina market report table of contents includes: