High-Purity Alumina Market 2019 Worldwide Opportunities, Market Share, Key Players and Competitive Landscape Prediction To 2024 – P&S Intelligence

Press Release

Alumina is commonly known as aluminum oxide (Al2O3) and is a basic raw material for the production of metallic aluminum. It is widely used in industries engaged in the manufacturing of semiconductors, electrolytic capacitor foils, light-emitting diode (LED) and LCD displays, electronic storage systems, and photovoltaic cells. The performance and price of high-purity aluminum oxide vary, depending upon its degree of purity.

The major trend being witnessed in the global high-purity alumina market is the growing investments by market players in new plants for product manufacturing. Besides, investments are being focused upon the expansion of existing production units and the modernization and upgradation of aging facilities. This increase in investments for enhancing the production of alumina is expected to result in the greater availability of the product to meet the growing demand in the market.

Download free PDF sample at: https://www.psmarketresearch.com/market-analysis/high-purity-alumina-market/report-sample

Based on purity level, the high-purity alumina market is categorized into 4N, 5N, and 6N. Of these, the category of 4N alumina is expected to continue holding the largest share in the market in the coming years. The market dominance of 4N alumina can be attributed to the fact that it is widely used in the manufacturing of LED bulbs and electronic displays.

Based on region, the market is categorized into Europe, North America, Asia-Pacific (APAC), Latin America, and the Middle East and Africa. Among all these regions, APAC held a significant share in the high-purity alumina market during the historical period. This can be majorly attributed to the growth in the construction industry of the region, particularly in infrastructure projects such as highways and roadways in China and India. The project developers across these nations are increasingly focusing on the adoption of LED lighting solutions for installation purposes in these structures, which, in turn, is boosting the growth of the high-purity alumina industry.

High-Purity Alumina Market Dynamics

Driver

Increasing regulatory norms to encourage the adoption of energy-efficient lighting solutions, such as LED bulbs, are driving the growth of the high-purity alumina market, globally. For instance, in 2015, the government of India introduced two schemes to boost the industrial production of LED solutions. Under the Modified Special Incentive Package Scheme (M-SIPS), 20% of the total capital expenditure in setting up an LED-manufacturing plant is borne by the Indian government. This has helped companies to develop the product at a comparatively low cost.

Additionally, under the UJALA scheme, the government is working toward increasing the penetration of LED bulbs in Indian households by offering these bulbs at an economical price. Thus, the increased demand for LED bulbs manufactured using alumina continues to provide the necessary thrust to the high-purity alumina market.

Make enquiry before purchase at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=high-purity-alumina-market

Restraint

The major restraint identified in the high-purity alumina market is the fluctuations in the prices of the raw materials used in the production of high-purity alumina. Due to the fluctuating cost of the raw materials, companies engaged in the production of aluminum oxide are witnessing alteration in profit margins and also finding it difficult to formulate their expansion plans. Thus, continuous variations in raw material costs are hindering the growth of the market.

Opportunity

The high-purity alumina market is expected to witness notable growth in emerging economies in the coming years. These countries are witnessing rapid growth in their economy, which is mainly characterized by the large-scale expansion in the construction and manufacturing sectors. Rise in construction and manufacturing activities in these countries is resulting in the demand for products such as LEDs and semiconductors, which are primarily made up of alumina, thus offering ample growth opportunities to the market players.

High-Purity Alumina Market Competitive Landscape

The high-purity alumina industry is characterized by the presence of a large number of multinational corporations. Some of the major companies operating in the global high-purity alumina market are Sumitomo Chemicals Co. Ltd., Orbite Aluminae Inc., Alcoa Inc., United Company RUSAL Limited, Mitsubishi Chemical Corp., Nippon Hydro ASA, Hong Fu Crystal Technology (Anhui) Co. Ltd., Dalian Hiland Photoelectric Material Co. Ltd., and Hebei Pengda Advanced Material Technology Co. Ltd.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.

This post was originally published on Analytics News