According to the latest report by IMARC Group, titled “High Purity Alumina Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global high purity alumina market reached a value of US$ 1.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2027, exhibiting a CAGR of 25.5% during 2022-2027.
High purity alumina (HPA), or aluminum oxide, represent processed non-metallurgical alumina manufactured through the hydrolysis of aluminum oxide, underwater spark discharge with aluminum, vapor-phase oxidation processes, hydrochloric acid leaching, etc. It can be classified into several types, including 4N, 5N, and 6N based on the purity level. These high purity alumina variants exhibit a high melting point, thermal stability, and corrosion resistance. Consequently, they find extensive utilization in the manufacturing of lithium-ion batteries, artificial sapphire substrates, light-emitting diodes (LEDs), smart electronic devices, ceramics, semiconductors, photovoltaic cells, artificial gemstones, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The growing electronics industry and the inflating demand for personal computers, tablets, televisions, gaming consoles, and servers are primarily driving the high purity alumina market. In addition to this, the increasing environmental consciousness and the shifting preferences toward LED lights that are extremely energy efficient as compared to incandescent bulbs are acting as significant growth-inducing factors. Furthermore, the elevating product usage as a coating on lithium-ion (LI-ion) battery separators integrated into electronic vehicles (EVs) to optimize efficiency and reduce emissions into the environment is also positively influencing the global market. Apart from this, the development of various innovative products, such as ready-to-use medical bio-ceramics for dental and orthopedic implants, is further stimulating the market growth. Moreover, the escalating employment of the product in the production of sapphire with minimal flaws in the crystal lattice and the rising investments in research and development (R&D) activities by key market players are anticipated to propel the high purity alumina market in the coming years.
Breakup by Purity Level:
Breakup by Production Method:
Breakup by Application: