Research Nester’s recent market research analysis on “High Purity Alumina Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global high purity alumina market in terms of market segmentation by type, technology, application, and by region.
Growing Application of Energy-Efficient Products to Promote Global Market Share of High-Purity Alumina
The global high-purity alumina market is estimated to grow majorly on account of the increased application of sustainable and energy-efficient products. Homes remain one of the main sources of dangerous greenhouse gases due to the use of energy-hungry household appliances. About 70% of the world's greenhouse gas emissions come from private use (the rest comes from public, non-governmental, and financial sources). Hence, their preference for traditional alternatives is increasing, further accelerating market growth.
In addition, energy-efficient appliances not only reduce greenhouse gas emissions but also help customers save money by reducing their home energy bills. Moreover, increasing government efforts to make people aware of the increasing environmental damage caused by greenhouse gases is also estimated to spur the growth of the market. The US Environment Protection Agency has a “Climate Change Kids Site” that offers information and educates kids as well as young people regarding the harmful effects of greenhouse gas on the environment.
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Some of the major growth factors and challenges that are associated with the growth of the global high-purity alumina market are:
Growth Drivers:
- A surge in the Demand for LED Lights
- Growth in the Demand for Automobiles
Challenges:
It is well known that the traditional alkaloid process to produce HPA is a notorious “energy hog” with a carbon footprint averaging about 11 tons of CO2 per ton of high-purity alumina. Reducing the energy required for production operations is the first step towards reducing the carbon footprint and environmental impact of the HPA industry. Building the production facility and the process itself is the first step in this process and requires huge investments. Furthermore, the high-purity alumina alkaloid technology uses expensive and carbon-intensive aluminum metal as a starting material, which is unacceptable in the long term. Therefore, it is believed that this factor is hindering the growth of the market. Also, the high production cost associated with high-purity alumina is anticipated to pose a challenge to the growth of the market in the future. These are some of the major factors anticipated to hamper the global market size of high-purity alumina.
By Type, the global high-purity alumina market is segmented into 4H high-purity alumina, 5N high-purity alumina, and 6N high-purity alumina. The 4H high alumina segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. This may be ascribed to the increased use of LED lighting. Moreover, increasing government efforts to popularize LED lighting to the people are further accelerating the growth of this sector. Additionally, this sector is expected to be driven by growth in the lighting and electric vehicle industry throughout the forecast period. Moreover, increasing demand for electric vehicles and strengthening government policies to promote the introduction of electric vehicles are estimated to boost the growth of this sector.
By region, the Asia Pacific high-purity alumina market is to generate the highest revenue by the end of 2035. This growth is anticipated by a growing population which further gives rise to the demand for vehicles, smartwatches, and smartphones. As per statistics, in 2020, 48 million units of wearables were shipped in the Asia Pacific region which is a rise of 4.7% from the previous year. Additionally, the adoption of Light Emitting Diodes (LEDs) is increasing, which is driving the major markets in the region. The value-added characteristics of LED products such as longevity, reliability, brightness, and low radiant heat have contributed to the growing popularity of LED products and helped change the industry for the better. Light-emitting diode (LED) technology has played a major role in this change. Many factors, including macroeconomic conditions, affect new construction and, in turn, the volume of new lighting installations impacting the Asia-Pacific market. Energy efficiency regulations and increased consumer awareness are further increasing the demand for LED lamps.
This report also provides the existing competitive scenario of some of the key players of the global high-purity alumina market which includes company profiling of Sasol Limited, Nippon Light Metal Company, Ltd., Orbite Technologies Inc., Xuancheng Jing Rui New Material Co., Ltd.
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High Purity Alumina Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Altech Chemicals Ltd, Zibo Honghe Chemical Co., Ltd, CoorsTek Inc., Almatis, Inc., Sumitomo Chemical Co., Ltd, FYI Resources Limited, Baikowski, Nippon Light Metal Holdings Co., Ltd, Polar Sapphire Ltd., and Pure Alumina.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global High Purity Alumina Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/high-purity-alumina-market/download-sampleMarket SegmentationThe broad High Purity Alumina market has been sub-grouped into the Application ,Product, and region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
