High Purity Alumina Market Regional Analysis:
APAC Market Insights
Asia Pacific region is set to dominate around 75% market share by 2035, attributed to growing consumer awareness and the increasing demand for LED technology. In 2021, about 50 percent of respondents in Hong Kong owned wearables in their households. Moreover, light emitting diode (LED) bulb acceptance is growing, which is a key market driver in this region. The value-adding characteristics of LED products, such as longevity, dependability, brightness, and low radiated heat, contributed to their expanding popularity and helped to change the industry for the better. Technology using Light Emitting Diodes (LEDs) is what has largely caused this transformation. Many factors, including macroeconomic conditions, which affect new construction and, as a result, the quantity of new lighting installations, have an impact on the Asia Pacific market. Regulations requiring energy efficiency and growing consumer awareness are further boosting demand for LED lamps.
North American Market Insights
The North America high purity alumina market is estimated to be the second largest, to grow at a highest share over the forecast period. The growth of the market in this region can be attributed by the rising LED bulb adoption and expanding electronics & semiconductor industries. Moreover, high purity alumina is widely utilized in non-metallurgical applications such as refractories, abrasives, high aluminum cements, aluminum chemicals and activated bauxite and alumina. Additionally, the high purity alumina has a wide range of uses in the production of sapphire substrates. Sapphire substrates are favoured window materials despite their remarkable chemical and mechanical characteristics, such as their resistance to thermal shock, high temperatures, minimum dielectric loss, and sand and water erosion, among others. Additionally, it has a wide range of uses in things such as semiconductors, electric & hybrid cars, LED lights, smartwatches, smartphones, li-ion battery separators, optical lenses, sodium lamps, and plasma displays. Hence, growing demand for electronics and EV vehicles in this region is estimated to boost the growth of the market.
Europe Market Insights
Additionally, the market in Europe region is also anticipated to have a significant growth over the forecast period, backed by consumer electronics' rising popularity and a number of non-metallurgical industrial uses. Also, the rise of the market would be fueled by growth in Europe's electronic manufacturing industry, particularly in Germany, the UK, and France. Moreover, there has been growing technology advancement in LED technology which is estimated to decreased electricity use is also estimated to drive the market growth in this region.
