High Purity Alumina Market Latest Revenue, and Regional Analysis | Baikowski SAS, Sumitomo Chemical Co., Ltd., Alcoa Inc

High Purity Alumina Market

High Purity Alumina Market

The global high purity alumina market is projected to reach $4.8 billion by 2026. The market analysis covers in-depth information of major industry participants

PORTLAND, OREGON, UNITED STATES, October 8, 2021 /EINPresswire.com/ — The global high purity alumina market was valued at $1.3 billion in 2019, and is projected to reach $4.8 billion by 2026, growing at a CAGR of 20.7% from 2020 to 2026. High purity alumina (HPA) is a premium product that falls under non-metallurgical alumina products, characterized by a minimum purity level of 99.99%. HPA is utilized as a base material to manufacture sapphire substrates in applications such as light-emitting diodes (LEDs) and artificial sapphire glass. It possesses properties such as corrosion resistance, high brightness, and can withstand high temperatures.

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Covid-19 Impact:

The outbreak of Covid-19 enforced people to wear face masks, which in turn, skyrocketed the demand for high purity alumina nose clips for usage in those masks.
However, some of the manufacturing plants in which high purity alumina were produced for applications such as batteries, bulbs, and others have been shut down due to lockdown.
The report offers a detailed segmentation of the global high purity alumina market based on type, technology, application, and region.

Based on type, the 4N high purity alumina segment held the highest market share with more than half of the total market in 2019, and will maintain its lead position throughout the forecast period. On the other hand, the 5N high purity alumina segment is estimated to register the highest CAGR of 21.4% from 2020 to 2026.

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Based on application, the LED bulb segment accounted for the major share in 2019, generating nearly half of the total market share, and will continue to dominate in terms of revenue during the forecast period. However, the Li-ion batteries segment would portray the fastest CAGR of 25.6% from 2020 to 2026.

Based on region, North America is estimated to register the fastest CAGR of 21.7% from 2020 to 2026. However, Asia-Pacific contributed to the highest market share in 2019, accounting for more than two-thirds of the total market share, and is projected to maintain its lead position by 2026.

Key players of the global high purity alumina market analyzed in the research include Norsk Hydro ASA, Baikowski SAS, Sumitomo Chemical Co., Ltd., Sasol and Xuan Cheng Jing Rui New Material Co. Ltd., Nippon Light Metal Holdings Company, Ltd., Alcoa Inc., Zibo Honghe Chemical Co. Ltd., Altech Chemicals Ltd., and Hebei Pengda Advanced Materials Technology Co., Ltd.

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Source: EIN Presswire