LED lightings followed by semiconductors, Li-ion batteries to drive HPA growth through 2024

According to the Market Research Future report, global high purity alumina market is slated to experience a robust growth until 2024 driven by the LED lightings segment. The segment was estimated to account for a dominating share of more than half in overall market by 2016 end. It witnessed a double digit CAGR growth which is expected to continue through the next five-year period.

The report suggests that the major demand boost for the LED lighting segment using high purity alumina in its sapphire substrates is going to come from Asia Pacific. The region accounted for 68.5 per cent of the overall segment revenue in 2016. China, Japan, Korea, and Taiwan are the four countries dominating the LED lightings manufacturing market.

Semiconductors, another prominent application sector of high purity alumina is projected to rank second in terms of value and volume by 2017 end. The segment is anticipated to witness steady growth owing to increasing demand from SOS (sapphire on silicon) semiconductors.

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Other non-aluminium end user segments which comprise the key applications of this specialty alumina include Li-ion batteries and industrial applications. Both the segments are anticipated to witness robust growth during the forecast period. Market experts attribute this growth to the increasing demand of Lithium ion batteries in upcoming electric vehicles.