High Purity Alumina Market size to exceed $8.5bn by 2032

High Purity Alumina Market size is estimated to reach USD 8.5 Billion by 2032, as per a new research report announced by Global Market Insights Inc.
 

The market growth is projected to be boosted by the expanding electronics and semiconductor industries. It is projected that this material, which is extensively used in the production of semiconductor products such as personal computers, tablets, gaming consoles, televisions, iPods, and servers, will drive market expansion.
 

Cost-effectiveness of HCL leaching technology to increase product adoption

High Purity Alumina Market from HCL leaching technology segment is estimated to surpass USD 2.5 billion by 2032. Increasing adoption of the HCl leaching technique that is cost-effective in terms of production as compared to the hydrolysis technique is anticipated to favor the industry expansion.
 

Growing LED applications of 6N to push the product demand forward

6N segment was valued over USD 85.5 Million in 2022 and is expected to grow at 11.5 % CAGR over 2023-2032. The demand for 6N high purity alumina for LED application is anticipated to be driven by rising demand for energy-efficient, contemporary-style lamps as well as advancements in small, flexible, and adjustable LED lights to illuminate small spaces.
 

Browse key industry insights spread across 282 pages with 333 market data tables & 29 figures & charts from the report, “High Purity Alumina Market Analysis By Technology (Hydrolysis, HCL Leaching), By Product (4N {LED, Semi-conductor, Phosphor, Sapphire}, 5N {LED, Semi-conductor, Phosphor, Sapphire}, 6N {LED, Semi-conductor, Phosphor, Sapphire}, By Application (LED, Semi-conductor, Phosphor, Sapphire), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/high-purity-alumina-hpa-market
 

Growing demand for automotive LEDs to expand revenue of sapphire segment

High purity alumina market by sapphire application segment is set to cross USD 475 million by 2032 due to an increase in sapphire applications since most LED manufacturers employ a sapphire substrate. The need for automotive LEDs, which is being driven by the burgeoning demand for electric vehicles.
 

Expanding electronic manufacturing industry to expand Europe market share

High purity alumina market in Europe will exceed USD 750 million by 2032. The demand for high purity alumina in the region is predicted to be driven by expansion in the electronic manufacturing sector as well as significant development in the automotive and semiconductor industries. Furthermore, the growing inclination towards electric vehicles and prospering automotive industry in the region is projected to positively impact industry dynamics in Europe.
 

Strategic partnerships and collaborations to determine market outlook

United Company RUSAL Plc, Orbite Technologies Inc, Hebei Pengda Advanced Materials Technology Co., Ltd., Altech Chemicals Ltd, Baikowski SAS, Alcoa Corporation, Polar Sapphire, Rio Tinto Alcan, CHALCO Shandong Co., Ltd., Sumitomo Chemical Company, Sasol Limited, Austral Private Limited, Hebei Pengda Advanced Materials Technology Ltd., and others are the major companies in the global high purity alumina industry.
 

In April 2022, Tethon Corporation Inc., world leader in ceramic materials, and Showa Denko America, a subsidiary of the international chemical business Showa Denko K.K., have established a partnership for the production of high-purity alumina for ceramic additive manufacturing.