High Purity Alumina Market
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<strong>High</strong> <strong>Purity</strong> <strong>Alumina</strong> <strong>Market</strong>- Global Industry<br />
Insight, Trends, Outlook, and Opportunity<br />
Analysis 2017-2025<br />
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REPORT DESCRIPTION<br />
<strong>High</strong> <strong>Purity</strong> <strong>Alumina</strong> <strong>Market</strong> Overview<br />
Plummeting costs of LEDs and increasing consumer shift towards replacing incandescent lights with LED lights,<br />
owing to their high energy efficiency and low carbon emissions is in turn expected to create highly lucrative<br />
growth prospects for the global high purity alumina market throughout the forecast period (2017–2025). Artificial<br />
sapphire is used as a substrate in production of LEDs, onto which the emitting layer of the LED is deposited as a<br />
vapor. Artificial sapphire is derived from high purity alumina by single crystal technology. As per stats released<br />
by Coherent <strong>Market</strong> Insights, the 4N purity segment was pegged at US$ 744 million in 2016. 99.99% purity level<br />
the 4N grade alumina is widely used, due to easier availability of smelter grade and low production cost. The 4N<br />
grade high purity alumina is widely used in gas separation and ultra-filtration process due to its high chemical<br />
resistance, porous nature, and mechanical strength. Moreover, demand for 5N grade high purity alumina is<br />
expected to witness significant growth during the forecast period as it finds wide application in scratch-proof<br />
sapphire glass and high end electronic displays. The market is expected to gain traction in Asia Pacific region due<br />
to burgeoning growth of various end-use industries in China, Taiwan, South Korea and India.<br />
The global high purity alumina market size was valued at US$ 1764.9 million (revenue) and is expected to<br />
expand at a CAGR of 16.3% in terms of revenue during the period 2017 – 2025.<br />
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REPORT DESCRIPTION<br />
Surging demand for Electronic Displays Augmenting <strong>Market</strong> Growth<br />
Asia Pacific has emerged as a major manufacturing hub, with major players focusing on capitalizing on<br />
economies of scale in the region. Furthermore, the region is a highly lucrative market for consumer electronic<br />
products, on the back of rampant economic growth in countries such as India and China. Besides, as per<br />
statistics released by India Brand Equity Foundation (IBEF)—a trust established by the Department of<br />
Commerce, Ministry of Commerce and Industry, Government of India—the country is poised to emerge as the<br />
second-largest market for smartphones in 2017. According to stats released by Coherent <strong>Market</strong> Insights, the<br />
electronic display market is projected to exhibit a robust CAGR of 16.9% during 2017-2025. These factors<br />
collectively position Asia Pacific as a powerhouse in the global high purity alumina market, and is expected to<br />
retain its dominance in the market through 2025.<br />
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REPORT DESCRIPTION<br />
Cost Reduction: A Major Challenge for <strong>Market</strong> Players<br />
The high purity alumina is a highly capital intensive market, which creates high entry barriers for new entrants.<br />
<strong>High</strong> production costs result in high cost of end products and relatively low profitability. Thus, the market is<br />
highly consolidated and is mainly dominated by major players based in Australia and China. This is mainly<br />
attributed to large bauxite reserves—the basic raw material for production of high purity alumina—in these<br />
countries.<br />
Major players in the global high purity alumina market include Altech Chemicals Limited, Baikowski Pure<br />
Solutions, Nippon Light Metal, Polar Sapphire Ltd., Sumitomo Chemical Co. Ltd., Orbite Technologies Inc., and<br />
Alcoa Inc. and among others.<br />
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