High-purity alumina: Key market research findings
- APAC dominates the market geographically
- The LED segment accounts for a majority of the market’s revenue
- Key vendors –Alcoa, Norse Hydro, Orbite Technologies, Rio Tinto Alcan, Sumitomo Chemical, RUSAL, and Zibo Xinfumeng Chemicals
Technavio’s market research analysts predict the global market for high-purity alumina to reach 73,000 metric tons by 2020. The demand for high-purity alumina is augmented by government regulations that encourage energy-efficient lighting systems. Energy efficiency has become a global need amid rising concerns over global warming and the rapid depletion of non-renewable power resources. High energy consumption has led countries to frame policies that ban incandescent light bulbs, which, in turn, has relatively lowered power efficiency. The global market for high-purity alumina was led by the APAC with a market share of around 70% during 2015. The flourishing semiconductor and LED markets in Japan and China, respectively, coupled with the emergence of India and China as automobile hubs will propel growth in the high-purity alumina market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the high-purity alumina segments based on the application.
“The increase in alumina-clay resources is expected to impact the growth of the market positively. The development of a new technology that extracts high-purity alumina from aluminous clay resources eliminates the ongoing supply deficit in the high-purity alumina market across the globe. An increase in aluminous clay resources is triggering an increase in the production of high-purity alumina,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
During 2015, the LED segment accounted for around 55% of the overall market revenue to become the fundamental revenue generator in the global high-purity alumina market. The characteristics of high-purity alumina are highly beneficial for LEDs as they have unique physical and chemical properties and offer higher crystallinity. LEDs are the major application for high-purity alumina and have helped boost its popularity and adoption rate. The growing adoption of LED lighting technology globally is fueling the demand for high-purity alumina in LEDs.
The key vendors in the global high-purity alumina market include Alcoa, Norse Hydro, Orbite Technologies, Rio Tinto Alcan, Sumitomo Chemical, RUSAL, and Zibo Xinfumeng Chemicals. The global high-purity alumina market is highly consolidated as the leading players account for a major chunk of the overall market share. In this market, there are a few high-purity alumina producers, most of whom are based in China. The demand for this metal is expected to grow in China due to its recent economic boom and rapid industrialization. Factors like rising production costs and the introduction of stringent environmental regulations are playing a crucial role in market consolidation.
A more detailed analysis is available in the Technavio report, Global High-Purity Alumina Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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