High Purity Alumina Market: Key Highlights
· The high purity alumina market wasvalued at ~ US$ 1.1 Bn in 2017, and isanticipated to expand at a robust CAGR of ~15% during the forecastperiod.
· Expansionof the high purity alumina market is primarily driven by its rising demand frommanufacturers of LEDs, lithium-ion batteries, and related products. The demandfor LED products has increased significantly in developing economies such asChina, Japan, Taiwan, and South Korea, due to increasing regulations pertainingto the use of incandescent bulbs.
· HPA isused in the coating of lithium-ion battery separators, found in electricvehicles and portable electronics. The rising use of sapphire glass bysmartphone manufacturers is adding to demand for HPA.
Key Drivers of High Purity Alumina Market
· Currently,LED bulbs reduce electricity consumption by 85% as compared toincandescent light bulbs, and by 40% as compared tofluorescent lights. With developments in technology, LEDs are expected to saveelectricity by 90% and 50% as compared toincandescent light bulbs and fluorescent lights, respectively, by 2020.
· LEDs last50 times longer than incandescent lights, and three to seven times longer thanfluorescents. In addition, LED bulbs provide superior light quality thancompact fluorescent lights (CFLs).
· Productioncosts of LEDs and related products have declined over the recent past.Furthermore, this trend is expected to continue over the forecast period. Thus,steady rise in the demand for LEDs and the corresponding increase in LEDproduction are expected to drive the HPA market during the forecast period.
· Despitetheir energy efficiency, LEDs have been used exclusively in electronic devices(screens for cell phones, computers, and TVs). Technological advances haveprogressively reduced manufacturing costs. Coupled with a regulatory focus onenergy efficiency, these reductions are opening up new opportunities for LEDsto enter the lighting sector. With a further decline in production costsexpected and rise in environmental concerns, LED lighting is expected to be alucrative area for the HPA market in the coming years.
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Asia Pacific a Prominent High Purity Alumina Market
· In termsof revenue, Asia Pacific constituted a significant share of the high purityalumina market in 2017. Expansion in automotive and LED lightingindustries is estimated to provide lucrative opportunities to the HPA marketduring the forecast period.
· NorthAmerica recorded significant sales of high purity alumina in 2017. Thisis primarily due to the rise in research activities in higher grades of highpurity alumina by various leading companies in the region. Additionally,increase in the number of stringent regulations on carbon and dust emission iscompelling manufacturers to opt for high purity alumina-based coatings withhigh hardness and wear resistance, typically in lithium-batteries separators.
· The highpurity alumina market in Europe is expected to expand at a moderate pace duringthe forecast period. The rising demand for energy-efficient LEDs and increasingmergers and capacity expansion activities among LED manufacturers in Germany,the U.K., and France are expected to drive HPA sales during the forecastperiod.
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Share of Prominent HPA Market Players
· The highpurity alumina market is dominated by a few major players, which generatesintense competition. Key producers of high purity alumina depict a medium tolow level of forward integration. This provides a distinct competitiveadvantage to market leaders in the HPA market. The entry of several small- tomedium-scale manufacturers has intensified the competition in the high purityalumina market.
· Companiessuch as Hebei Heng Bo New Material Technology Co. Ltd., Zibo XinfumengChemicals Co., Ltd., and Xuan Chen Jing Rui New Material Co., Ltd. areleading manufacturers in the HPA market in China.
· Sumitomo Chemical Co. Ltd., Nippon Light Metal Co. Ltd., and HMR Co.Ltd. have a wide presence in Japan and South Korea. Baikowski SAS and Sasol Ltd. are the major players operatingin high purity alumina market in the U.S. and Canada. Polar Sapphire Ltd. haswidespread operations across Canada.
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