High Purity Alumina Market Size, Share & Trends Analysis Report By Application (LED, Li-ion Battery, Semiconductor, Phosphor), By Product (4N, 5N, 6N), By Region (Asia Pacific, North America), And Segment Forecasts, 2023 - 2030

High Purity Alumina Market Size, Share & Trends Analysis Report By Application (LED, Li-ion Battery, Semiconductor, Phosphor), By Product (4N, 5N, 6N), By Region (Asia Pacific, North America), And Segment Forecasts, 2023 - 2030

High Purity Alumina Market Growth & Trends

The global high purity alumina market size is anticipated to reach USD 15.81 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 22.2% during the forecast period. Rising demand for lithium-ion batteries used in Electric Vehicles (EVs) and increasing electronic component production are anticipated to propel market growth, as the product is increasingly being used in various high-tech industries. High-purity alumina (HPA) is anticipated to play a crucial role in the manufacturing of low-carbon emission products in the coming years. The product is used as a major ingredient in the production of synthetic sapphire that can be used in ceramic separators in lithium-ion batteries to increase its thermal capacity.

Another important application of HPA is in the production of LED lighting and scratch-resistant glass. In Asia Pacific, the HPA market was dominated by China, and it is anticipated to continue driving demand while it continues to remain the hub for the production of electronic components and semiconductors. The country is also the largest producer of lithium-ion batteries globally. China has taken advantage of the availability of a highly-skilled, low-cost workforce. This is viewed as a critical competitive advantage for global companies setting up manufacturing bases, especially on account of rising raw material and energy prices that have currently impacted the industry.

High Purity Alumina Market Report Highlights

• The 4N product segment held the largest share in 2022 and is anticipated to progress at a lucrative CAGR from 2023 to 2030 due to rising demand for crystalline white powder used in the Li-ion battery manufacturing
• The LED segment accounted for the largest revenue share in 2022 and is likely to witness a steady CAGR during the forecast period owing to the increasing popularity of LED bulbs and lighting
• Asia Pacific accounted for the highest volume share in 2022 owing to the presence of large-scale industries, such as automobiles and electronics, in the region
• The U.S. held the largest revenue share of the North America regional market in 2022 due to the rapidly expanding EV industry in the country
• Key players in the global industry have been focusing on cost optimization. Companies have also been focusing on increasing capacity to cater to the growing demand, especially from end-user industries, such as EVs, electronics, and lighting

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