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MA_171403
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Pages: 283
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Sep 2017 | 3741 Views
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Author's :
Sneha Nathwani
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Tables: 162
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Charts: 55
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High Purity Alumina Market is expected to garner $5,293 million by 2023, registering a CAGR of 17.0% during the forecast period 2017-2023. The market for high purity alumina has witnessed tremendous growth during the past few years and is expected to grow at a CAGR of 20.7% in terms of volume, during the analysis period. World demand for high purity alumina has gained an incredible traction, owing to growing technological advancements and increasing demand from applications namely LED bulbs, electronic displays, automotive and medical. This trend is expected to continue with growing adoption of HPA by end users and emerging technological advancements in electronics industry. Increasing penetration of LEDs in the lighting market, newer applications of high purity alumina in smartphones, smartwatches and tablets, are significant factors driving the growth of the high purity alumina market. However, higher cost of production is expected to impede the high purity alumina market growth.
Based on production technology, the market is segmented into hydrolysis and hydrochloric acid (HCL) leaching. Hydrolysis is the most adopted technique to manufacture high purity alumina. HCL is not yet commercialized but this technique will be adopted by companies in the near future since it helps to reduce the production cost of HPA. Orbite Technologies is the first to start the commercial production of high purity alumina using HCL process, thereby reducing the cost of HPA in the coming years. This commercial production is expected to commence from 2017, since the company is currently supplying samples to their customers for testing and approval.
Segment Review
In 2016, the 4N segment occupied the highest share of 53.4% in terms of volume in the total HPA market and is expected to continue its dominance throughout the forecast period. 4N HPA cannot be used to develop sapphire wafers with very high quality as required in medical and aerospace applications, and hence finds its major demand in LED bulbs and electronic displays.
The hydrolysis of aluminum alkoxide is the most adopted method by major manufacturers for the production of HPA. In this process, high-purity aluminum alkoxide is synthesized from aluminum metal and alcohol. The alkoxide undergoes hydrolysis to produce hydrated alumina. Further, HPA is obtained by calcination. The main advantage of this processing technology is that it helps to recover acid, which can be re-used, thereby reducing operating costs. HPA producers are manufacturing HPA using hydrolysis technology, which helps them to provide HPA product customization to the end users.
In 2016, the LED bulbs occupied a dominating position in world high purity alumina market, owing to the shift towards LED lighting as compared to traditional lighting. Moreover, stringent regulations across the globe have led to increased penetration of energy efficient light sources such as LED bulbs. In addition, increasing per capita consumption of power has boosted the demand for electricity across the globe.
India Review
In 2015, the Indian government announced two different policies to encourage and promote LED industry development. The first is including LED chip factories under its Modified Special Incentive Package Scheme (M-SIPS), under which a cash grant of up to 20% of the cost of the project is provided to companies that set up semiconductor fabrication plants in India subject to a minimum initial investment of approximately US$50 million. The incentive is applicable to both local and foreign investors for encouraging manufacturers to establish semiconductor factories in the country.
In 2015, the Indian government provided residential LED light bulbs to 3.7 million households living in poverty. In addition, it sold two LED bulbs to each household at a subsidized price of INR10 ($0.15). All these factors provide strong growth opportunities for the HPA market in Asia-Pacific region.
Top Winning Strategy
The key players operating in the global HPA market have adopted various key business strategies, such as product launch, agreement, collaboration, and expansion, to sustain the intense competition in the global market. The market players profiled in this report are HPA manufacturers and solution providers that serve various end-user industries worldwide. The data pertaining to the market players and their strategic moves have been obtained through annual reports and press releases of respective companies, blogs, and primary calls to the experts in the industry.
The above pie chart represents the percentage split of the strategies adopted by the leading companies operating in the global market. Agreement was the key strategy adopted by key players in this market, followed by product launch, collaboration, and joint venture to expand their geographical outreach in the HPA market. Agreement accounted for 27.8% share of the total number of strategies during 2011‐2017.
The companies have employed agreement, collaboration, joint venture, expansion, and product & technology launch in order to gain competitive advantage in this market. Altech Chemicals has primarily adopted the agreement strategy that helped expand its geographical reach in Asia-Pacific and Europe. The key players profiled in the report include Orbite Technologies Inc.; Sumitomo Chemical Co., Ltd; Baikowski SAS; Alcoa Inc.; Nippon Light Metal Holdings Company, Ltd.; Altech Chemicals Ltd; Zibo Honghe Chemical Co. Ltd.; UC Rusal, Sasol, and Xuan Cheng Jing Rui New Material Co. Ltd.
Other key players (not profiled) in the industry include Dalian Hiland Photoelectric Material Co., Ltd., Norsk Hydro ASA, Rio Tinto Alcan, Hebei Pengda, Wuxi Tuoboda, Shandong Keheng Crystal Material Technologies Co., Ltd., Shandong Gemsung Technology Co.,Ltd., Chalco Shandong Advanced Material Co.,Ltd, Chongqing Research Better Science & Technology Co., Ltd, and China Xinmeiyu Alumina Co.,Ltd.
Key Benefits:
HPA is a high-value and high-margin product that is being adopted increasingly in technological sectors. HPA has a purity level of more than 99.99% and is mainly used for non-metallurgical applications. HPA is manufactured by removing the impurities such as silicon, copper, and iron and reducing the amount of alpha emitters such as uranium and thorium to a predetermined level.
Presently, there is increasing investment in numerous end-use industries, such as electronics, semiconductors, automotive, medical, aerospace, and defense, including many others due to the global economic development in both developed and developing countries. For instance, Asia-Pacific is expected to account for approximately 45% of the total general lighting market by 2020. The increasing penetration of LEDs in the lighting market and newer applications of HPA in smartphones, smartwatches, and tablets are significant factors driving the growth of the HPA market.
The economic development in emerging economies is responsible for the rapid growth in a number of industries. The construction industry is rapidly growing in the Asia-Pacific region where many foreign countries are investing in Asia-Pacific construction sector. The increasing industrialization demands for more LEDs to support the infrastructure requirements. The growing urbanization and population in developing countries create the requirement for better infrastructure. These factors eventually increase the demand for HPA in order to meet industrial and consumer demands. Therefore, this factor is expected to positively impact the market in the near future.
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