Hcl Leaching High Purity Alumina MarketSize and Trends

HCL Leaching High Purity Alumina Market Taxonomy

On the basis of application, the global market is classified into:

LED
Sapphire
Phosphor
Semiconductor

On the basis of end use industry, the global market is segmented into:

Electrical and electronics
Medical
Aerospace
Others

On the basis of application, LED and sapphire segments are expected to collectively account for the highest share in terms of volume in the global HCL leaching high purity alumina market through 2024. This is due to increase in demand for synthetic single crystal sapphire, which is used as a substrate in manufacture of LEDs. Various schemes by the government in emerging countries to promote LED industry development is expected to prove as a significant factor in fueling the growth of HCL leaching high purity alumina market. One such initiative started by the Indian government is UJALA, in which the government is keen on replacing all inefficient bulbs with high energy efficient bulbs. HCL leaching high purity alumina is also used in medical and aerospace industry for high-end applications such as coating of aircraft and its engine parts in which purity is of paramount priority.

HCL Leaching High Purity Alumina Market Outlook – Shift of Trend towards LED has Propelled Demand for HCL Leaching High Purity Alumina

Asia Pacific is the largest contributor in the HCL leaching high purity alumina market. This is mainly attributed to the swiftly growing urbanization and electronics industry in emerging economies in this region. According to India Brand Equity Foundation (IBEF)—a trust by the Department of Commerce, Ministry of Commerce and Industry, Government of India—12% of the total LED lighting systems worldwide are sold in India. In addition to this, easy availability of raw materials and cheap labor has led to shift of manufacturing hubs to Asia Pacific region. This trend is expected to further gain traction over the forecast period. North America and Europe are amongst the emerging markets for the HCL leaching high purity alumina market.

Advancements in energy efficient lighting solution has propelled the HCL leaching high purity alumina market growth. High raw material cost is projected to prove to be one of the restraining factors for market growth. Major players are focusing on extensive research and development activities in order to differentiate their product offerings, entering into strategic acquisitions and joint ventures with local players, and expanding their productions facilities to enhance their market share. Some of the major companies operating in the global HCL leaching high purity alumina industry are Alcoa Inc., Bukowski, Orbite Technologies Inc., Altech Chemicals Limited, Sumitomo Chemical Co., Xuancheng Jingrui New Material Co., Ltd., Nippon Light Metal Company Ltd., Dalian Hiland Photoelectric Material Co., Ltd., Sasol, and Rusal.