4N Segment to Lead APAC High Purity Alumina Market through 2024
Increasing adoption of LED products, semiconductor,
phosphor, smart watches, lithium ion battery separators and sapphire glass for
smartphones to boost Asia-Pacific high purity alumina market through 2024
According to TechSci Research
report, “Asia-Pacific High Purity Alumina Market By
Product, By Application, By Country, Competition, Forecast &
Opportunities, 2024’’, Asia-Pacific high purity
alumina market is anticipated to grow at a CAGR of 20.29% during forecast
period. High purity alumina (HPA) is a high-value, high margin as
well as a highly demanded product since it is the critical material required to
produce synthetic sapphire. Moreover, there is no alternative for HPA in the
manufacture of synthetic sapphire. Asia-Pacific high purity alumina market is
driven by growing adoption of LEDs
across the region as they are an energy efficient, durable and lower operating
cost form of lighting. Thus, LED lighting is replacing the conventional incandescent
bulbs. Of late, several industries have moved their manufacturing units to the
Asia-Pacific region, on account of availability of labor as well as raw
materials. This is anticipated to drive high purity alumina (HPA) market in the
region over the next five years.
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The market for high purity
alumina has been segmented into product, application and region. Among the
product segmentation, 4N high purity alumina held over 52% in 2018 in Asia-Pacific
high purity alumina market and is further anticipated to witness significant
growth on account of widespread acceptance in energy-efficient lighting
solutions and electronic displays. Regionally, Asia-Pacific high purity alumina
market is mainly segmented into China, South Korea, Taiwan and Japan. Among
these countries, China dominates Asia-Pacific HPA market on account of
technological advancements in electronics sector of the country. Moreover,
significant demand for high purity alumina from LED industry in China due to
increasing use of energy efficient lighting, coupled with growing government
initiatives are further anticipated to push demand for high purity alumina in
the country.
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“Among
applications, LED segment is anticipated to capture a major market share in
Asia-Pacific high purity alumina market. Additionally, the phosphor segment is
expected to reach $ 429.02 million by 2024 on account of rapid growth of phosphor-based
products including plasma televisions wherein the high purity alumina is used
to control the characteristics of phosphorous products.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Asia-Pacific High Purity Alumina Market By Technology, By Product, By
Application, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future
growth potential of Asia-Pacific high purity alumina market and provides
statistics and information on market size, structure and future market growth.
The report offers decision makers superior market intelligence, thereby
enabling them conduct thorough investment appraisal. Besides, the report
also analyzes the evolving market trends along with drivers,
challenges and opportunities in Asia-Pacific high purity alumina market.
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