The global high purity alumina market is expected to reach USD 6.41 billion by 2024, according to a new report by Grand View Research, Inc. Substantial demand for the product in plasma displays as it is a cost-effective and an energy efficient substitute for traditional materials including incandescent light bulbs is expected to drive demand. Moreover, growing demand for plasma displays is projected to propel the growth of the market over the forecast period. High purity alumina is an essential base material for artificial sapphire substrates, which are used in numerous electronics.
Growing demand for high purity alumina in niche applications including medical, precision optics and defense is expected to drive demand over the forecast period. Moreover, increasing adoption of LED screen as they provide high-definition images is projected to boost demand for alumina products over the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/high-purity-alumina-market
Further key findings from the report suggest:
·
4N high purity alumina is expected to grow at a
CAGR of over 18.0% from 2016 to 2024. The increasing use of the product in
ceramics, smartphones, and batteries on account of its superior electrical
insulation, low moisture absorption, and improved thermal conductivity is
expected to drive the demand. The product is being widely used to coat ceramic
separators in lithium ion batteries.
·
Rising demand for lithium ion batteries owing to
growth in Electric Vehicle (EV) and Plug-in Hybrid Electric Vehicles (PHEV) is
expected to drive the market demand for high purity alumina over the forecast
period.
·
Sapphire production accounted for over 12.5% of
high purity alumina consumption in 2015. Growing investments in sapphire glass
production on account of its increasing requirement across a wide array of
applications including smartphones, tablets, LEDs and semiconductors is
expected to open new opportunities over the forecast period.
·
North America high purity alumina demand was
4.31 kilo tons in 2015. The material is being increasingly used in plasma
displays as it helps in reducing the overall dimensions of the final product by
making it lighter and thinner. A boom in utilities rebate on account of using
LED retrofits is expected to drive the market over the forecast period.
·
Significant demand for the material from the LED
industry owing to growing use of energy efficient lighting in emerging
economies including China and India coupled with rising government initiatives
to increase the market share of LED lamps and minimize the use of incandescent
lamps is projected to augment growth. Abundant raw material availability
coupled with adequate manufacturing capabilities has led to relatively lowering
production costs.
·
Nippon Light Metal is a key market player which
manufactures high purity alumina, aluminum metal alloys, industrial parts,
metal rolls, capacitor foils and heat exchangers. Baikowski Pure Solutions is
involved in producing high purity alumina powders and other fine composites
& oxides including YAG, ZTA, ceria, and Spinel. The company has its
manufacturing facilities located in Japan, U.S., and France.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the global high purity alumina market on the basis of product, application and region:
High Purity Alumina Product Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
·
4N
·
5N
·
6N
High Purity Alumina Application Outlook (Volume, Tons; Revenue, USD
Million, 2013 - 2024)
·
Light Emitting Diodes
·
Semiconductors
·
Phosphor
·
Sapphire
·
Others
High Purity Alumina Regional Outlook (Volume, Tons; Revenue, USD
Million, 2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
·
Latin America
o
Brazil
·
Middle East & Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-high-purity-alumina-market
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Research
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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