Global High Purity Alumina Market 2019-2026 to reach USD 4.3 Bn by 2026

The rising demand of high purity alumina from LED industries, rising investment in end-use industries and non-availability of substitutes of HPA in the market are the main growth factors for the global high purity alumina market.The global high purity alumina market was valued at USD 1.4 billion in 2018 and is expected to reach USD 4.3 billion in 2026, growing at a CAGR of 15.04% during the forecast period.

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Aluminum oxide or aluminum also referred to as AL2O3, is the primary raw material used in the manufacture of metallic aluminum. High purity alumina (HPA) is one of the purest forms of aluminum oxide. HPA is generally used in various end-use industries, such as LED and semiconductor manufacturing, all over the world. The global high purity alumina market is mainly driven by the LED lightings market. Increasing regulatory standards to promote the adoption of energy-efficient lighting solutions, such as LED bulbs, are driving the growth of the high-purity alumina market globally. For example, in 2015, the Government of India launched two schemes to raise the industrial production of LED solutions.20% of the total capital expenditure for the establishment of an LED manufacturing plant is borne by the government of India, under the Modified Special Incentive Package Scheme (M-SIPS). This has enabled companies to produce the product at a relatively low cost.

The rising investment in end-use industries and the non-availability of substitutes of HPA are expected to increase the demand for high purity alumina in the global market. However, the increasing demand from emerging economies coupled with increasing population and growing disposable income is expected to boost the growth of the global high purity alumina market during the forecast period. High production costs of the products are expected to hamper the growth of the market during the forecast period.

Key Findings:

• Based on the purity level, the 4N segment is expected to lead and accounted for almost 55% market share in the global market in 2018
• Based on the application, the LED segment expected to grow at the fastest rate of 19.6% CAGR during the forecast period
• In 2018, Asia Pacific is accounted to hold the highest market share of 34% in the global high purity alumina market

Recent News:

• In March 2019, Pure Alumina, Australia's leading manufacturer of High Purity Alumina announced their acquisition of Polar Sapphire. This will help Pure alumina to start the commercial production of HPA production, which will be widening its product portfolio and bring technological advancement.
• In June 2017, Quantum Resources, a U.S .based company recently announced its acquisition of Halcyon Resources Pty Ltd., a major player in high-purity alumina and high-purity silica located in Australia. This will benefit Quantum in the advancement of technology, to pursue a new focus on energy metal and broaden the product portfolio to provide better services.