Global High Purity Alumina Market 2019-2023
About High Purity Alumina
High purity alumina is a high- end product of the non- metallurgical alumina with minimum purity of 99.99% and is used for the production of synthetic sapphire.
Technavio’s analysts forecast the global high purity alumina market to grow at a CAGR of 6.78% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global high purity alumina market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of high purity alumina in different application
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global High Purity Alumina Market 2019-2023
Technavio recognizes the following companies as the key players in the global high purity alumina market 2019-2023: Nippon Light Metal, Norsk Hydro, PSB INDUSTRIES, Sasol, Sumitomo Chemicals.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing closure of aluminum smelting units. Increasing closing of aluminum smelting units to cope with the air pollution and the increasing cost of electricity is expected to result in an imbalance for the high purity alumina manufacturers that use aluminum to produce high- purity alumina.”
According to the report, one of the major drivers for this market is the growing demand for LED lighting. The growing demand for LED lighting will increase the demand for the sapphire- based substrate, which is turn, is expected to drive the global high purity alumina market.
Further, the report states that one of the major factors hindering the growth of this market is the expensive production methods for high- purity alumia. The growth of the market is the high production cost of high- purity alumia, is one of the major challenge in the market.
Nippon Light Metal