High Purity Alumina Market Growth Analysis with Industry Trends 2021: Business Insights of Leading Players, Research with Size, Key Challenges with Covid19 Impact, Business Opportunities Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for High Purity Alumina Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for High Purity Alumina Market products.

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According to the statistics by the Food and Agricultural Organization (FAO) of the United Nations, the total amount of pesticides used around the world grew from 3,089,827 tonnes in 2000 to 4,122,334 tonnes in 2018. Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The global high purity alumina market is expected to reach USD 7.20 billion by 2026 according to a new study published by Polaris Market Research.The global high purity alumina market has been divided based on purity level, application, and technology. Considering the purity level, the market is classified into 4N, 5N, and 6N. It is the 4N level of purity held the largest market share in the market followed by 5N and 6N. The enormous application of the lithium-ion batteries where the 4N purity level of alumina is maintained has resulted in the segment holding the largest market share of more than 40% and will continue to maintain its dominance in the forecast period of 2018-2026.

On the basis of application, the high purity alumina market comprises of semiconductors, sapphire, phosphorus, and electronic display among others. Here the electronic display held the largest market share which can be contributed to the huge demand for LED-based electronics globally. Moreover, the LED is more environment-friendly and sustainable that has led to the government pushing the application of LED making it one if the fastest growing technology globally.

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The market for high purity alumina is also bifurcated by technology into hydrolysis, and HCL based. It is the hydrolysis segment that held the largest market share because of its feasibility and lower operational cost. The HCL based technology still is at a nascent stage and needs more time to get commercialized.

A few major driving factors for the high purity alumina market are growing demand for high-resolution electronics like television and smartphones that use high purity alumina for better display. Moreover, the rise in demand for smart wearables and other technological devices that uses LED is further having a positive impact and driving the market for high purity alumina globally. Among the regions, Asia-Pacific is expected to hold the largest market share in the global high purity alumina market over the forecast period of 2018-2026, followed by North America and Europe.

Some of the major business strategies adopted by companies operating in the high purity alumina market are innovations in product and technology, geographical expansion, and mergers & acquisitions among others. For example, Altech Chemicals Ltd formerly known as Australian Minerals and Mining Group Ltd that is working on a reaction of a relatively low impurity kaolin that is 1.4% Fe2 O3 +TiO2 with HCL acid for producing 4N HPA in a 4,000 tonnes pa capacity plant. In addition to this, Orbite Aluminae Inc. formerly known as Exploration Orbite V.S.P.A. Inc has been working on the completion of 3 tonnes/day 5N high purity alumina production plant that utilizes HCL acid extraction from the aluminous clay.

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The leading players operating in the high purity alumina market globally are Altech Chemicals limited, Sumitomo Chemicals Co. Ltd., Nippon Light Metal, Alcoa Inc., Baikowski Pure Solutions, Orbite Technologies Inc., and Polar Sapphire Ltd. among others

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