RE:RE:RE:Do you still believe in this stock? May 30, 2019 (Heraldkeeper via COMTEX) -- High Purity Alumina Market Based on volume, North America driven by U.S. will exhibit growth with a CAGR of close to 18%. The regional 4N HPA market is said to capture close to USD 350 million by the end of forecast spell.
High Purity Alumina (HPA) Market will surpass USD 4 billion by 2025; according to a new research report.Global high purity alumina market is highly competitive due to presence of several industry players. Some crucial players in the industry are, Baikowski SAS, Nippon Light Metal Co. Limited, Orbite Technologies, Altech Chemicals Limited, Polar Sapphire Limited, Sasol, UC RUSAL, Sumitomo Chemical, Alcoa Corporation, Zibo Honghe Chemical Company.
Based on volume, HCl leaching technology will account for over 25% of the overall high purity alumina market in 2025. Hydrochloric acid leaching is a synthesis process to extract alumina from clay. HCl is regenerated and at the same time ferric ions are recovered and precipitated as high purity ferric oxides leaving all other residual elements. The HCl leaching technology will grow with a CAGR of over 15% due to its growing acceptance by manufacturers and lower production cost.
Rise in utilization of domestic aluminum clay resources will help surge the production rate of high purity alumina market globally. 4N high purity alumina with 99.99% purity acts as separators in lithium-ion batteries that are utilized in electrical devices and electric vehicles. Technological advancements coupled with renewable-energy revolution has increased the popularity of electric vehicles. HPA is used for its high electrical insulation characteristic to control the air and fuel mixture in automotive engines that offer high heat conductivity. HPA can also be used in catalytic filters for dust generated from diesel combustion in engines. Therefore, increasing demand for passenger cars and heavy vehicles in emerging nations will have a significant impact on automotive industry which will subsequently reinforce demand for HPA in air-to-fuel sensors.
HPA is a processed form of non-metallurgical alumina product with a minimum purity level of 99.99%. Increasing demand for HPA from semiconductor industry and for other applications such as LED lights, sapphire glass for optical lenses and display screens will spur the high purity alumina market in the near future. High purity alumina provides higher resistance to breakdown & corrosion, high brightness and enhanced hardness level which makes it a precursor for artificial sapphire and rubies along with other application including fiber optic communication systems, watch covers, advertising displays, cell phones, and residential lighting
The LED application segment will capture a significant share of over 50% in the global high purity alumina market by 2025. The semiconductor segment revenue will capture a market share of over 25% by the end of forecast spell and will grow with a CAGR of over 15% during the forecast timeframe. Rising applicability of HPA in semiconductors is fostered by its underlying applications in consumer electronics such as home appliances and industrial applications such as military, infrastructure, and energy.
Considering region, Asia Pacific will hold the maximum share of around 60% in the high purity alumina market by the end of forecast period. Rising demand for infrastructural spaces and growing electronic equipment production in China, Taiwan, South Korea and Japan will lead HPA market during the forecast period.
The high purity alumina market competitive landscape includes key players such as Alcoa Corporation, Sumitomo Chemical, Altech Chemicals Limited, Rio Tinto Alcan, Norsk hydro, Polar Sapphire, Baikowski SAS, Sasol, Nippon Light Metal Company Limited, Zibo Honghe Chemical Comopany.
Browse Full Report @ https://www.gminsights.com/industry-analysis/high-purity-alumina-hpa-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.