High Purity Alumina Market Set to Expand by USD 6.82 Billion

High Purity Alumina Market Set to Expand by USD 6.82 Billion

The global high purity alumina (HPA) market is expected to grow by USD 6.82 billion from 2024 to 2028, according to Technavio, with a CAGR of over 33.95%. The increasing adoption of LED lighting and lithium-ion batteries is driving market growth, despite the high production costs of HPA.

Key market players include Advanced Energy Minerals, Alcoa, Alpha HPA, Altech Advanced Materials, Altech Chemicals, AluChem, Baikowski, CoorsTek, Devtaar, FYI Resources, HPA Sonics, Nippon Light Metal, Norsk Hydro, Orient Abrasives, Oyak, Polar Sapphire, Sasol, Sumitomo Chemical, UC RUSAL, and Vizag Chemical International.

Applications driving this growth include LEDs, semiconductors, and phosphors, with significant demand across APAC, North America, Europe, South America, and the Middle East and Africa. The decline in LED manufacturing costs, due to advancements in semiconductor technology and economies of scale, is a key factor in reducing installation costs and boosting demand.

Similarly, lower production costs of lithium-ion batteries, facilitated by scalable and cost-effective technologies, are increasing their adoption across various industries. These trends are expected to continue, supporting the rapid expansion of the HPA market. icon

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