Selbyville, Delaware, Nov. 09, 2022 (GLOBE NEWSWIRE) --
The high purity alumina market value is anticipated to surpass USD 8.5 billion by 2032, according to a recent report by Global Market Insights Inc.
High purity alumina is a promising inorganic material across several industries, including display materials, energy, transportation, computers. Alumina (Al2O3) possesses exceptional physical and chemical qualities, such as strong heat resistance, excellent electrical isolation, abrasion resistance, and high corrosion resistance which contributes to its widespread across a range of applications in assorted industries in every part of the world. Such exceptional characteristics along with the quick pace of technological advancements are set to propel the market expansion through 2032.
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Demand for HCL leaching process to gain traction due to affordability
High purity alumina market from HCl leaching technology segment is expected to hold a sizeable portion of the market by 2032. HCL leaching process has been used since the early 1980s, and is regarded as a standard, reliable, and robust chemical process. HCL Leaching technology has a huge preference for processing of high purity alumina due to its simple acid recovery and reusability at the beginning of the process, which lowers operating costs.
Browse key industry insights spread across 282 pages with 333 market data tables & 29 figures & charts from the report, “High Purity Alumina Market Statistics By Technology (Hydrolysis, HCL Leaching), By Product (4N {LED, Semi-conductor, Phosphor, Sapphire}, 5N {LED, Semi-conductor, Phosphor, Sapphire}, 6N {LED, Semi-conductor, Phosphor, Sapphire}, By Application (LED, Semi-conductor, Phosphor, Sapphire), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/high-purity-alumina-hpa-market
Growing application of semi-conductors in electronic devices to expand revenue share
High purity alumina market from semi-conductor segment is expected to grow at over 13.5% CAGR through 2032. The demand for semi-conductors is being driven by emerging technologies like AI-based smart phones, IoT adoption, and 5G development. Furthermore, increasing penetration of devices integrated with semiconductors will further propel market revenues. Smartphone usage has recorded exponential progress in the last few years, thereby driving semiconductor demand and eventually influencing market trends.
Expanding electronics sector and proliferation of 5G technology to augment APAC industry
Asia Pacific high purity alumina market is estimated to cross USD 5.50 Billion by 2032. The market expansion is predicted to be primarily driven by the booming electronics industry and the substantial use of high purity alumina in the manufacture of lithium-ion batteries used in the automotive sector. Additionally, the proliferation of 5G technology across the APAC region will supplement the market progress.
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Innovative products to help market players in expanding global reach
Altech Chemicals Ltd, Alcoa Corporation, Zibo Honghe Chemical Co., Ltd, United Company RUSAL Plc, Norsk Hydro ASA, Rio Tinto Alcan, CHALCO Shandong Co., Ltd., Polar Sapphire, Sumitomo Chemical Company, Sasol Limited, and Austral Private Limited are the prominent companies engaged in the high purity alumina industry.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
