High-Purity Alumina (Hpa) Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

High-Purity Alumina (Hpa) Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The market for High-Purity Alumina (HPA) Market globally is expected to grow rapidly at a CAGR of over 15% during the forecast period. Major factors driving the market studied are the increase in the demands for LED lightings.

• On the flipside, high cost of HPA is expected to hinder the growth of the market in the short term.
• Additionally, HPA’s applications in scratch-resistant glass for smartphones & watches and its growing applications in manufacturing optical lens is expected to provide ample opportunities for the growth of the market during the forecast period.

• One of the major applications of high-purity alumina (HPA) is in the production of synthetic sapphire, which is used as a substrate in LED preparation.

• Production of synthetic sapphire starts with a seed sapphire crystal, a mixture of high purity alumina and un-crystallized sapphire material (crackle), which are heated in a crucible. Currently, sapphire is the most preferred substrate in the LED manufacturing, as it much cheaper than other substrates, such as Silicon Carbide, and Gallium Nitride.

• Currently, more than 50% of the global HPA production is used in LED manufacturing. However, the increasing demand for LED lighting is expected to further drive the market studied, during the forecast period.

• Some of the key factors driving the LED market are growing environmental awareness of public and increasing demand for smart illumination.

  In the electronics industry, the synthetic sapphire produced from HPA is also used in manufacturing semiconductor wafers. These silicon-on-sapphire semiconductors are used in radio frequency integrated circuits.

• Hence, the growing demand for LEDs and semiconductors is a major driving factor for the market studied.

Asia-Pacific dominated and is further expected to dominate through the forecast period. With accelerating usage LED based lightning and increasing application in Li-ion batteries in countries, such as China, India, and South Korea, the consumption of high-purity alumina (HPA) is increasing in the region. China emerged as one the leading producers as well as consumer of lighting products, globally. Some of the lighting products commonly used in China include light emitting diodes (LEDs), electrodeless discharge lamps (EDLs), compact fluorescent lamps (CFLs), and organic light emitting diodes (OLEDs). Furthermore, the country has been focusing on the promotion of electric vehicles. This, in turn, is likely to augment the demand for lithium-ion batteries in the near future. With the growing demand from various applications in different countries, the demand for high-purity alumina (HPA) is projecetd to increase at a high rate during the forecast period.

The global high-purity alumina (HPA) market is consolidated in nature, with intense competition among the top players to increase the share in the market. The top seven players constitute the 63% of the global market. China accounts for the major production and consumption in the global market, with most of the major production plants concentrated in the country. The major players in the market include Sumitomo Chemicals, Hebei Pengda New Material Technology Co. Ltd, Sasol, Alpha HPA Limited (Collerina Cobalt), and Nippon Light Metal Co. Ltd, among others.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support