According to a research report titled ‘Asia Pacific High Purity Alumina Market Size By Product, By Technology, By Application, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, Asia Pacific high purity alumina market valuation is projected to surpass USD 3.1 billion by the end of the forecast period 2021-2027.
 

Report findings claim that the demand in Asia Pacific high purity alumina market is driven by increasing product application for manufacturing products such as sapphire glass, display screens, sodium lamps, optical lenses, semiconductors, & electric vehicles, coupled with mounting demand for LED bulbs in the region.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3736373/
 

Furthermore, inflowing investments from stakeholders via hydrolysis portfolio expansion, and increasing end-user preference for HCI leaching process in order to lower production costs are also stimulating overall industry expansion.
 

Additionally, the market growth is expected to be amplified due high demand for a form of a highly purified aluminum oxide used to manufacture lithium-ion ceramic-coated battery separators.
 

Despite the positive industry outlook, high costs linked with manufacturing processes are likely to restrain market development over the forecast timeframe.
 

Moreover, the repercussions of the COVID-19 pandemic were felt in 2020 when the annual revenues declined due to an inevitable plunge in market demand. However, a gradual economic recovery due to the rollout of COVID-19 vaccinations is likely to positively sway the industry dynamics in the upcoming years.
 

By product type, Asia Pacific high purity alumina industry segmentation comprises 6N, 5N, and 4N variants. Among these, 4N product segment captured over 55% of the total market share and is expected to record a healthy growth rate during the forecast period. This can be credited to the significant demand for LED bulbs and electronic displays in regions such as India, Australia, and China, as well as implementation of strict regulations promoting the use of energy conserving light sources.
 

Moving on to application scope, the market is arrayed into semiconductors, LED’s, phosphor, sapphire, and others. The LED segment is slated to hold more than 49% of the industry share by 2027, triggered by increasing focus of governments and stakeholders towards development of renewable energy, and the dip in overall LED prices.
 

Prominent players in Asia Pacific high purity alumina market sphere are Hebei Pengda Advanced Materials Technology Co. Ltd., Austral Private Ltd., Chalco Shandong Advanced Material Co. Ltd., Shandong Keheng Crystal Materials Technology Co. Ltd., Rio Tinto Alcan Inc., Norsk Hydro ASA, Zibo Honghe Chemical Co. Ltd., Nippon Light Metal Holdings Co. Ltd., Alcoa Corp., Sumitomo Corp., Baikowski SASU, and Altech Chemicals Ltd.