According to a recently published market report, the global high purity alumina market is slated to grow at a CAGR of 27.11% by the period 2016-2020. The growing adoption of LED lighting systems and displays, changing Government regulations encouraging energy-efficient lighting systems across economies, and Increase in demand from APAC have been identified in the report as the key growth drivers of the market.
Alumina, commonly known as aluminium oxide, is primarily used as a feedstock for the fabrication of metallic aluminium, known as smelter grade alumina (SGA). Approximately 90% of alumina is used in aluminium fabrication, and the remaining 10% is dedicated to the non-metallurgical market for industrial use. High-purity alumina, which characterizes alumina with a minimum purity of 99.99%, is the high-end product of the non-metallurgical alumina market.
Emerging Applications of HPA
The report says currently, three major trends are dominant in the global HPA market. These are - increase in aluminous clay resources, increasing investments in R&D, and the Growing concern for environment and energy constraints.
The market players are going to be faced by challenges from the Rising production costs of alumina, LME price volatility of aluminium affecting production plans, and rising Competition from China.
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The key vendors in the HPA market as identified in the report include Alcoa, Norse Hydro, Orbite Technologies, Rio Tinto Alcan, Sumitomo Chemicals, RUSAL, and Zibo Xinfumeng Chemicals among others. Altech Chemicals are is also gearing up to emerge as a major producer of high purity alumina.
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