Increasing applications of light emitting diodes benefit high purity alumina market

High purity alumina (HPA) is a high-value product that is used as a base material in the fabrication of sapphire substrates. These substrates have applications in scratch-proof artificial sapphire glass, semiconductor wafers, and light emitting diodes (LEDs). Traffic lights, backlights in electronics, LED-backlit LCDs, and general lighting products are some of the major applications of LEDs, which indirectly propel the high purity alumina market.

Other applications of high purity alumina lie as a phosphor material in plasma displays and as an essential constituent in protective coatings. The price and performance of HPA are dependent on product density, degree of purity, and particle size distribution.

The global HPA market was worth US$1.2 billion in 2014. Developing at a moderate CAGR of 6.90 per cent from 2015 to 2021, the market’s valuation will be US$3.6 billion by 2021. The global HPA market will display a volume growth at a magnificent 19.70 per cent CAGR for the 2015-2021 period. The progression of the global HPA market is attributed to several reasons. Increasing demand for LED lighting and displays, governmental support for the development of HPA products, and a host of applications in smartphones are the major reasons favouring the development of this market.

However, the increasing purchase cost and other costs associated with high purity alumina are detrimental to the growth of this market. To counter this, R&D initiatives for product customization and the manufacture of HPA from other materials such as aluminium waste are the new trends observed in the HPA market.