World High Purity Alumina Market Segmentation, Application Analysis and Market Forecast 2022 – Acute Market Reports
World demand for high purity alumina has gained an incredible traction, owing to growing technological advancements and increasing demand from applications namely LED bulbs, electronic displays, automotive and medical. This trend is expected to continue with growing adoption of HPA by end users and emerging technological advancements in electronics industry. The market for high purity alumina has witnessed tremendous growth during the past few years and is expected to grow at a CAGR of 20.5% in terms of volume, during the analysis period. Increasing penetration of LEDs in the lighting market, newer applications of high purity alumina in smartphones, smartwatches and tablets, are significant factors driving the growth of the high purity alumina market. However, higher cost of production is expected to impede the high purity alumina market growth.
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Based on production technology, the market is segmented into hydrolysis and hydrochloric acid (HCL) leaching. Hydrolysis is the most adopted technique to manufacture high purity alumina. HCL is not yet commercialized but this technique will be adopted by companies in the near future since it helps to reduce the production cost of HPA. Orbite Technologies is the first to start the commercial production of high purity alumina using HCL process, thereby reducing the cost of HPA in the coming years. This commercial production is expected to commence from 2017, since the company is currently supplying samples to their customers for testing and approval.
In 2015, the 4N segment occupied the highest share of 53.5% in terms of volume in the total HPA market and is expected to continue its dominance throughout the forecast period. 4N HPA cannot be used to develop sapphire wafers with very high quality as required in medical and aerospace applications, and hence finds its major demand in LED bulbs and electronic displays.
The hydrolysis of aluminum alkoxide is the most adopted method by major manufacturers for the production of HPA. In this process, high-purity aluminum alkoxide is synthesized from aluminum metal and alcohol. The alkoxide undergoes hydrolysis to produce hydrated alumina. Further, HPA is obtained by calcination. The main advantage of this processing technology is that it helps to recover acid, which can be re-used, thereby reducing operating costs. HPA producers are manufacturing HPA using hydrolysis technology, which helps them to provide HPA product customization to the end users.
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In 2015, the LED bulbs occupied a dominating position in world high purity alumina market, owing to the shift towards LED lighting as compared to traditional lighting. Moreover, stringent regulations across the globe have led to increased penetration of energy efficient light sources such as LED bulbs. In addition, increasing per capita consumption of power has boosted the demand for electricity across the globe.
In 2015, the Indian government announced two different policies to encourage and promote LED industry development. The first is including LED chip factories under its Modified Special Incentive Package Scheme (M-SIPS), under which a cash grant of up to 20% of the cost of the project is provided to companies that set up semiconductor fabrication plants in India subject to a minimum initial investment of approximately US$50 million. The incentive is applicable to both local and foreign investors for encouraging manufacturers to establish semiconductor factories in the country.
Chapter: 1 INTRODUCTION
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Key Audiences
1.5. Research Methodology
1.5.1. Secondary Research
1.5.2. Primary Research
1.5.3. Analyst Tools and Models
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