High Purity Alumina Market Witness High Demand During by 2030 - Digital Journal

2022-10-09 12:20:07 By : Mr. Zway Zhou

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High Purity Alumina Market : Introduction

High Purity Alumina (HPA) is a premium class product which comes under non-metallurgical alumina products. It has a purity level of 99.99% to 99.9999% and is considered as one of the purest form of alumina oxide. The common name for alumina is alumina oxide (AI203). It is also used as basic raw material in manufacturing metallic aluminium and as a base material in the production of sapphire based substances.

The Global High Purity Alumina Market Forecast:

The Global High Purity Alumina Market size was worth US$ 1.89 billion in 2021, and it is estimated to reach a valuation of US$ 10.30 Billion by the end of 2030, expanding at an annual rate of about 20.7% between 2021 and 2030.

The Global High Purity Alumina Market Overview:

High Purity Alumina (HPA) is widely used in manufacturing sapphire ingots; further and is further used in LED, sapphire-based products and semiconductors. The suitable government policies and rising government initiatives towards emery-efficient lightening have accelerated the production of LED, thus, boosting the High Purity Alumina (HPA) market growth.

Furthermore, increasing demand from the LED industry for LED products such as LED bulbs, tube lights, torches, and a surge in the production of electric vehicles and the developing electronic and semiconductors industry are anticipated to boost the market expansion of the global High Purity Alumina (HPA) market.

Increasing Demand from LED Industry is Poised to Boost the Market Growth:

High Purity Alumina (HPA) has distinctive properties such as high brightness, corrosion resistance, high mechanical strength, high electrical and insulation resistance, and it can withstand high temperatures.

Therefore, HPA is predominately used in the production of electronics and in the semiconductor industry, such as LCDs, LED, photovoltaic cells and electronic storage systems.

The predominance use of the High Purity Alumina (HPA) in the LED industry has accelerated the global High Purity Alumina (HPA) market. Furthermore, the growing use of lithium-ion batteries in automobile industries and rising demand for HPA in LEDs for various applications, such as television, computer, and home lighting, are anticipated to fuel the growth of the global High Purity Alumina (HPA) market.

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Suitable Government Policies and Investments are Anticipated to Fuel the Market Growth.

Developing and developed nations’ governments have been looking for a substitute for traditional energy sources, and LEDs are a great alternative to the conventional energy source.

The governments of the various countries have made massive investments while taking favourable  initiatives to promote LED Bulbs manufacturing. Also, they have encouraged people to use energy-efficient light to reduce the country’s energy consumption. LED bulbs are environmentally friendly, and they consume less energy or production. Therefore, the demand for LED bulbs is massive in developing nations such as India and China.

Also, 2010 million LED bulbs were distributed by the Indian government in the country in 2018. At the same time, a  tender was also issued for the LED streetlights retrofit project by the Indian government. These factors are anticipated to accelerate the growth of the global High Purity Alumina (HPA) market.

This Research Report Categorized this Market Based on Types, Technology, Application, and Geographical Landscape.

The COVID-19 pandemic impacted the majority of the sectors worldwide. The pandemic also negatively affected the High Purity Alumina (HPA) market. The outbreak of COVID-19 in China, and its spread across numerous countries globally, halted the manufacturing process of Bauxite (raw material), which hampered the global High Purity Alumina (HPA) market.

The government implemented the forced lockdown across various countries, disturbing national and international transport, which has substantially impacted the supply chain of various industries across the globe. Therefore, the freights train, which transports Bauxite (raw material), was halted due to transport restrictions.

Thus, an insufficient supply of raw materials and a shortage of workforce hampered the production of High Purity Alumina (HPA), thereby impacting the overall market development.

For more information about this report visit:- https://wemarketresearch.com/reports/high-purity-alumina-market/82/

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