LONDON--(BUSINESS WIRE)--The high purity alumina market is expected to grow by 127.11 thousand million tons during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
High demand from the rapidly growing LED lighting market is expected to drive the high-purity alumina market during the forecast period. The growth of the LED lighting market is attributed to the growing availability of various types of LED lights such as high-pressure sodium (HPS), high-intensity discharge (HID) bulbs, metal halide (MH) bulbs, and high-intensity fluorescent (HIF) bulbs. Moreover, LED lights are long-lasting and thus have a relatively lower cost of ownership as compared to the traditional lighting systems, which is driving its adoption globally. High-purity alumina is the initial material used to produce sapphire used for the sapphire-based substrate used in the manufacture of LED lights.
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As per Technavio, the use of aluminous clay resources to produce high purity alumina will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
High Purity Alumina Market : Use of Aluminous Clay Resources to Produce High Purity Alumina
The expensive production process of high-purity alumina and the closure of aluminum smelting units are forcing manufacturers to look for alternative sources. One such method is using aluminous clay resources to produce high-purity alumina. For instance, Altech Chemicals is focusing on using kaolin clay with hydrochloric acid to produce high-purity alumina. The company has developed a kaolin mine at Meckering, Western Australia, which is owned by the company. Altech Chemicals is also in the process of developing a 4,500-ton per annum high-purity alumina plant in Tanjung Langsat Industrial Complex, Johor, Malaysia. The company had commenced the stage-1 of construction of the plant on 8th August 2018. Thus, the development of new resources of cheap feedstock for the production of high-purity alumina is expected to drive the high-purity alumina market in the forecast period.
“Factors such as the declining manufacturing cost of LEDs, and the increasing application of lithium-ion battery will have a positive impact on the growth of the high purity alumina market value during the forecast period,” says a senior analyst at Technavio.
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High Purity Alumina Market: Segmentation Analysis
This market research report segments the high purity alumina market by application (LEDs, semiconductors, phosphors and others), type (4N, 5N and 6N), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the high purity alumina market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increased demand for LED solutions from the residential and commercial segments, and government incentives promoting energy-efficient lights in countries such as India and China.
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Some of the key topics covered in the report include:
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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