High purity alumina market: APAC is estimated to contribute 72% to the growth of the global market during the forecast period - Technavio

 NEW YORK, Dec. 5, 2022 /PRNewswire/ -- The high purity alumina market size is forecast to grow by USD 3500.2 million at a CAGR of 25.5% between 2022 and 2027. APAC is forecast to contribute 72% to the growth of the global high purity alumina market during the forecast period. The market in the region is estimated to grow at the fastest pace during the forecast period. The presence of a strong manufacturing industrial base and the rising demand for LEDs and semiconductors will facilitate the high purity alumina market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled Global High Purity Alumina Market 2023-2027
Technavio has announced its latest market research report titled Global High Purity Alumina Market 2023-2027

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High purity alumina market: Segmentation Analysis

Technavio has segmented the high purity alumina market by application (LEDs, semiconductors, phosphors, and others), type (4N HPA, 5N HPA, and 6N HPA), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The report provides actionable insights and estimates the contribution of all segments to the growth of the global high purity alumina market.

  • The LEDs segment held the largest share of the market in the base year. The segment is driven by the increasing use of LEDs in various applications such as automobile headlights, home illumination, multimedia displays, advertisement lighting, and backlights in mobile phones, and others. Also, the increasing preference for LED bulbs over conventional bulbs and lamps will contribute to the growth of the segment.

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Key factor driving market growth

  • The rising adoption of LED lighting technology is one of the factors driving the high purity alumina market growth.

  • Globally, the need to reduce electricity consumption and the rising awareness of green technologies are increasing the consumer demand for energy-efficient and eco-friendly lights such as LED lighting.

  • Governments are also encouraging the use of LED lights and bulbs by offering subsidies. For example, countries such as China, India, and Japan have started promotional campaigns to make LEDs available at subsidized rates and provide land at low prices to companies to set up LED factories.

  • The demand for LEDs is expected to further increase during the forecast period with rise in commercial and residential construction activities worldwide. All these factors are expected to drive the growth of the market during the forecast period.

Leading trends influencing the market

  • The declining manufacturing cost of LEDs is one of the key high purity alumina market trends fueling the market growth. The cost of manufacturing LEDs has declined significantly in the last decade. The decline in cost can be mainly attributed to the reduced prices of semiconductor chips and other components used in LEDs. This is subsequently leading to a decline in the initial installation cost of LED lamps and fixtures. As a result of these factors, the demand for LEDs is increasing significantly across all the application sectors, such as industrial, commercial, residential, and others. Thus, the declining manufacturing cost of LEDs will have a positive impact on the growth of the market during the forecast period.

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Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Buy the Report

What are the Key Data Covered in this high purity alumina market report?

  • CAGR of the market during the forecast period 2023-2027

  • Detailed information on factors that will drive the growth of the high purity alumina market between 2023 and 2027

  • Precise estimation of the size of the high purity alumina market and its contribution to the parent market.

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the high purity alumina market industry across North America, Europe, APAC, South America, and the Middle East and Africa

  • A thorough analysis of the market's competitive landscape and detailed information about vendors

  • Comprehensive details of factors that will challenge the growth of high purity alumina market vendors

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High Purity Alumina Market Scope

Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 25.5%

Market growth 2023-2027

USD 3500.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

24.4

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 72%

Key countries

US, China, Taiwan, South Korea, and Japan

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alpha HPA Ltd., Altech Advanced Materials AG, Altech Chemicals Ltd., AluChem Inc., Baikowski SA, CoorsTek Inc., Devtaar GmbH, FYI Resources Ltd., HPA Sonics, Nippon Light Metal Co. Ltd., Norsk Hydro ASA, Orient Abrasives Ltd., Oyak, Polar Sapphire Ltd., Sasol Ltd., and Sumitomo Chemical Co. Ltd.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2022

  • 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

  • 4.1 Global high purity alumina market 2017 - 2021

  • 4.2 Application Segment Analysis 2017 - 2021

  • 4.3 Type Segment Analysis 2017 - 2021

  • 4.4 Geography Segment Analysis 2017 - 2021

  • 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

  • 5.1 Five forces summary

  • 5.2 Bargaining power of buyers

  • 5.3 Bargaining power of suppliers

  • 5.4 Threat of new entrants

  • 5.5 Threat of substitutes

  • 5.6 Threat of rivalry

  • 5.7 Market condition

6 Market Segmentation by Application

  • 6.1 Market segments

  • 6.2 Comparison by Application

  • 6.3 LEDs - Market size and forecast 2022-2027

  • 6.4 Semiconductors - Market size and forecast 2022-2027

  • 6.5 Phosphors - Market size and forecast 2022-2027

  • 6.6 Others - Market size and forecast 2022-2027

  • 6.7 Market opportunity by Application

7 Market Segmentation by Type

  • 7.1 Market segments

  • 7.2 Comparison by Type

  • 7.3 4N HPA - Market size and forecast 2022-2027

  • 7.4 5N HPA - Market size and forecast 2022-2027

  • 7.5 6N HPA - Market size and forecast 2022-2027

  • 7.6 Market opportunity by Type

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Geographic Landscape

  • 9.1 Geographic segmentation

  • 9.2 Geographic comparison

  • 9.3 APAC - Market size and forecast 2022-2027

  • 9.4 North America - Market size and forecast 2022-2027

  • 9.5 Europe - Market size and forecast 2022-2027

  • 9.6 South America - Market size and forecast 2022-2027

  • 9.7 Middle East and Africa - Market size and forecast 2022-2027

  • 9.8 China - Market size and forecast 2022-2027

  • 9.9 Taiwan - Market size and forecast 2022-2027

  • 9.10 US - Market size and forecast 2022-2027

  • 9.11 South Korea - Market size and forecast 2022-2027

  • 9.12 Japan - Market size and forecast 2022-2027

  • 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers

  • 10.2 Market challenges

  • 10.3 Impact of drivers and challenges

  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview

  • 11.2 Vendor landscape

  • 11.3 Landscape disruption

  • 11.4 Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered

  • 12.2 Market positioning of vendors

  • 12.3 Advanced Energy Minerals

  • 12.4 Alcoa Corp.

  • 12.5 Alpha HPA Ltd.

  • 12.6 Altech Chemicals Ltd.

  • 12.7 Baikowski SA

  • 12.8 CoorsTek Inc.

  • 12.9 Devtaar GmbH

  • 12.10 FYI Resources Ltd.

  • 12.11 HPA Sonics

  • 12.12 Nippon Light Metal Co. Ltd.

  • 12.13 Norsk Hydro ASA

  • 12.14 Oyak

  • 12.15 Polar Sapphire Ltd.

  • 12.16 Sasol Ltd.

  • 12.17 Vizag Chemical International

13 Appendix

  • 13.1 Scope of the report

  • 13.2 Inclusions and exclusions checklist

  • 13.3 Currency conversion rates for US$

  • 13.4 Research methodology

  • 13.5 List of abbreviations

About Technavio

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Global High Purity Alumina Market 2023-2027
Global High Purity Alumina Market 2023-2027
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