Global high purity alumina market will reach USD 5.09 bln by 2020

According to a recently published market research report, the global high purity alumina market is projected to reach USD 5.09 billion by 2020, growing at a CAGR of 20.1 per cent between 2015 and 2020. The rising demand of high definition televisions, smart phones, electronic sensors, and LED displays has been identified as one of the most significant factors influencing the growth of the high purity alumina market. The electronics market in China account for more than half of the global electronics market. The demand for electronic items has increased over the years, which has directly led to the increasing demand of high purity alumina in the Asia-Pacific region.

LED is the largest application segment in the high purity alumina market. The use of HPA is increasing across other applications as well, such as semiconductor, phosphor, and sapphire. With the growing demand for high purity alumina in end-user industries, its consumption is also expected to rise between 2015 and 2020, the data released in the report indicates.

As per the report, Asia-Pacific is the largest regional segment in the high purity alumina market. The increasing demand of high purity alumina from the Asia-Pacific region is mainly attributed to the concentration of associated industries, such as electronics and semiconductors equipment industries in China, South Korea, and Japan.