The global high purity alumina
market has been divided based on purity level, application, and technology.
Considering the purity level, the market is classified into 4N, 5N, and 6N. It
is the 4N level of purity held the largest market share in the market followed
by 5N and 6N. The enormous application of the lithium-ion batteries where the
4N purity level of alumina is maintained has resulted in the segment holding
the largest market share of more than 40% and will continue to maintain its
dominance in the forecast period of 2018-2026.
The global high purity alumina
market is expected to reach USD 7.20 billion by 2026 according to a new study
published by Polaris Market Research
.
On the basis of application, the
high purity alumina market comprises of semiconductors, sapphire, phosphorus,
and electronic display among others. Here the electronic display held the
largest market share which can be contributed to the huge demand for LED-based
electronics globally. Moreover, the LED is more environment-friendly and
sustainable that has led to the government pushing the application of LED
making it one if the fastest growing technology globally.
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The market for high purity alumina is also
bifurcated by technology into hydrolysis, and HCL based. It is the hydrolysis
segment that held the largest market share because of its feasibility and lower
operational cost. The HCL based technology still is at a nascent stage and
needs more time to get commercialized.
Some of the major business
strategies adopted by companies operating in the high purity alumina market are
innovations in product and technology, geographical expansion, and mergers
& acquisitions among others. For example, Altech Chemicals Ltd formerly
known as Australian Minerals and Mining Group Ltd that is working on a reaction
of a relatively low impurity kaolin that is 1.4% Fe2 O3 +TiO2 with HCL acid for
producing 4N HPA in a 4,000 tonnes pa capacity plant. In addition to this,
Orbite Aluminae Inc. formerly known as Exploration Orbite V.S.P.A. Inc has been
working on the completion of 3 tonnes/day 5N high purity alumina production
plant that utilizes HCL acid extraction from the aluminous clay.
The leading players operating in
the high purity alumina market globally are Altech Chemicals limited, Sumitomo
Chemicals Co. Ltd., Nippon Light Metal, Alcoa Inc., Baikowski Pure Solutions,
Orbite Technologies Inc., and Polar Sapphire Ltd. among others.
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About Polaris Market Research
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global market research and consulting company. The company specializes in
providing exceptional market intelligence and in-depth business research
services for our clientele spread across different enterprises.
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Phone: 1–646–568–9980
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