High Purity Alumina Global Market Report 2024

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 expansion observed in the historical period can be attributed to factors such as strong economic growth in emerging markets, increased penetration of smartphones, growth in the electronics and semiconductor industry, and an 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 anticipated growth in the forecast period can be attributed to factors such as rapid urbanization, increased government support, a growing demand for electric vehicles, and an increasing demand for lithium-ion batteries used in electric vehicles. Noteworthy trends expected in the forecast period include strategic partnerships and collaborations aimed at improving financial strength, strengthening product portfolios, and expanding geographical presence. Additionally, there is a trend toward advancing and developing innovative product solutions to enhance and solidify market positions.

The high-quality alumina market is anticipated to experience growth, driven by the expanding electronics and semiconductor industries. Semiconductors, with conductivity between conductors and non-conductors, are integral to electronic devices. High-purity alumina, renowned for its mechanical strength, heat resistance, abrasion resistance, and insulation properties, is crucial in manufacturing various electronics and semiconductor components. Notably, in October 2021, the Semiconductor Industry Association reported a 29.7% increase in global semiconductor industry sales, reaching $47.2 billion in August 2021 compared to the previous year's $36.4 billion. This underscores the impact of the growing electronics and semiconductor industries on the high-quality alumina market.

The high purity alumina (HPA) market is set to benefit from the rising demand for electric vehicles (EVs). Electric vehicles, powered by electric motors instead of traditional internal combustion engines, are experiencing substantial growth. HPA contributes to the safety, performance, and efficiency of key EV components. As of May 2022, the International Energy Agency reported a significant surge in EV sales, nearly doubling from the previous year to reach a record 10.2 million units in 2021. Projections indicate a continued upward trajectory, with global sales of electric cars expected to reach 14 million units in 2023, reflecting a remarkable 35% growth. Hence, the increasing demand for electric vehicles acts as a catalyst for the high purity alumina market.

Innovation is a prominent trend in the high-quality alumina market, with major companies focused on developing cutting-edge products. For instance, in April 2022, Tethon Corporation Inc. collaborated with Showa Denko America, Inc. to introduce high-purity alumina for ceramic additive manufacturing. This UV resin, featuring increased ceramic loading compared to competitors, showcases advancements in materials for additive manufacturing, particularly in the ceramic domain.

Investments aimed at expanding production capacities are a strategic focus for companies in the high-quality alumina market. Addressing the growing demand for high-purity alumina, companies are allocating resources to enhance production capabilities. In January 2021, Ara Partners invested in Polar Sapphire, facilitating the construction of a large-scale commercial production facility with a capacity of 1,000 tons per year. This move positions Polar Sapphire to meet increasing demand in applications such as lithium-ion batteries, LED lighting, semiconductors, and consumer electronics.

In January 2022, Lanthanein Resources Limited acquired the Yangibana Rare Earth Elements (REE) and Koolya High Purity Alumina (HPA) projects from Dalkeith Capital Pty Ltd. This strategic move allows Lanthanein Resources to diversify its portfolio, entering the REE and HPA markets, aligning with the growing demand for these critical minerals in various applications.

Major companies operating in the high purity alumina market report are Nippon Light Metal Holdings Company, Ltd., Alcoa Inc., Sumitomo Chemical Co., Ltd., United Company 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.

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. The countries covered in the high purity alumina market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of high-purity alumina are categorized by their purity levels, including 4N, 5N, and 6N. The designation '4N' signifies a purity level of greater than 99.99%, and it is utilized in the manufacturing of LED sapphire crystal raw materials, high-pressure sodium lamp tubes, and other applications. Various technologies are employed in the production of high-purity alumina, such as hydrolysis, hydrochloric acid methods, and others. HPA finds applications in diverse industries, including LED bulbs, semiconductor substrates, lithium-ion batteries, optical lenses, biomedical devices, and more.

The high purity alumina market research report is one of a series of new reports that provides high purity alumina market statistics, including high purity alumina industry global market size, regional shares, competitors with a high purity alumina market share, detailed high purity alumina market segments, market trends and opportunities, and any further data you may need to thrive in the high purity alumina industry. This high purity alumina market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The high-purity alumina (HPA) market consists of sales of high-purity alumina grades of alumina bodies such as 99.5%, 99.8%, and 99.96%. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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