Global High Purity Alumina Market to Exhibit 15.4% CAGR during the Forecast Period 2018-2026

Global High Purity Alumina Market: Snapshot

The global market for high purity alumina market is rising due to significant rise in demand for lithium-ion batteries, LEDs, and related products. Rise in demand for LED products in developing countries are driving the force for global high purity alumina market. It has usage in various applications such as thermal decomposition process, alkoxide process, modified bayer process, and choline hydrolysis process. High purity alumina is also used for coating of sapphire glass. Separators of lithium-ion battery that are found in portable electronics and electric vehicles. There is a rise in demand for high purity alumina by smartphones manufacturers due to rise in use of sapphire glass. The major factor driving the market is LED productions. LED’s substrate includes high purity alumina’s sapphire as a material. The crystal sapphire is derived from high purity alumina possesses favorable mechanical properties and chemical stability. This makes it ideal for the electronic industry. The global market for high purity alumina is also driven by sapphire’s use in semiconductor applications. High purity alumina is used as separators in Li-ion batteries that are used in electronic devices and electric vehicles. The other applications of high purity alumina are abrasives, alumina ceramic, translucent cosmetics, and separation membrane.

The global high purity alumina market is expected to expand at a remarkable CAGR of 15.4% during the forecast period of 2018 to 2026. The global market’s revenue was valued at US$1,100 mn during 2017 and is expected to rise significantly during the forecast period.

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Higher Adoption of Lithium-Ion Batteries Due to Rise of Electric Vehicles

The high purity alumina market is segment according to product type into 4N high purity alumina that is 99.99%, 5N high purity alumina that is 99.999%, and 6N purity alumina which is 99.9999%. Among these, demand for 4N high purity alumina that is lithium-ion batteries with 99.99% will rise during the forecast period due to its significant use in electric vehicles in emerging countries such as South Korea, U.S., and china. Gigafactory, the lithium-ion battery manufacturing company in U.S. has already increased the demand for high purity alumina market. This company manufactures solar panel, energy storage, and electric vehicles. Its demand in storage capacitors, LEDs, and lithium-ion based batteries will fuel the market for the same. Thus, 4n high purity lithium is expected to lead the market during the forecast period.

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Some of the leading companies in the global high purity alumina market are Polar Saffire Ltd., Altech Chemicals Ltd., Nippon Light Metal Co. Ltd. Sumitomo Chemical Co. Ltd., and Sasol Ltd.

For More Information Please Visit: 

https://globenewswire.com/news-release/2018/04/27/1489107/0/en/Global-High-Purity-Alumina-Market-to-Reach-US-3-94-Bn-by-2026-Rising-Demand-from-LED-and-Li-ion-Battery-Manufacturers-to-Provide-Major-Boost-for-Market-Growth-TMR.html

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