Global high purity alumina market to grow at CAGR 27% through 2020

Global high purity alumina market is slated to grow at a compound annual growth rate (CAGR) of 27.11 per cent by 2020, revealed data released by Hexa Reports in their recently published market report. According to the insightful document, growing adoption of LED lighting systems and displays will drive the HPA market growth over the five years period (2016-2020, inclusive of both the years) under review.

Alumina, commonly known as Al2O3, is primarily used as a feedstock for the fabrication of metallic aluminium. It is also known as smelter grade alumina (SGA). Approximately 90 per cent of alumina is used in aluminium smelting and the remaining 10 per cent is dedicated to the non-metallurgical market for industrial use. High-purity alumina, which characterizes alumina with a minimum purity of 99.99 per cent, is the high-end product of the non-metallurgical alumina market.

Global high purity alumina market is segmented into the Americas, APAC, and EMEA. Application-wise HPA finds widespread use in a myriad of industries. A number of diversified chemical companies are also engaged in the manufacture and sale of high purity alumina. It is used in light-emitting diodes (LEDs), in the manufacture of scratch-resistant glass, and in semiconductor chips and wafers. Its uses in plasma displays have also made it a high-value material in the electronics sector.

According to Hexa Reports study, high purity alumina producers are likely going to face major challenges in the form of rising cost of production.

However, the increase in alumina clay resources will help keep the demand for alumina buoyant globally during the period under review.

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