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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