According to the research report titled ‘Europe High Purity Alumina Market Forecast 2027 By Technology, By Product, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe high purity alumina market is slated to accrue USD 450 million by the year-end of 2027.

Rising usage of high-end consumer electronics, and widespread application of the product in non-metallurgical processes for making sapphire substrates that are used in watches, smartphones, etc. are variables driving the growth of Europe high purity alumina market.

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For those unaware, high purity alumina (HPA) is one of the purest forms of aluminum oxide that is made by combining industrial alcohol with aluminum metal, post which the calcination process take place to give the final product.

During the COVID-19 pandemic, the construction projects had halted due to restrictions placed by the government on the movement of goods, which imbalanced the production and demand arena. With the supply chain impacted severely due to lockdowns, there was a major shortage of raw materials and labor which caused a dent in the market outlook.

Despite this, with the improvement in the ongoing coronavirus situation, the business sphere is expected to pick up pace in the forthcoming years.

Based on product type, the 4N segment of Europe high purity alumina industry is estimated to grow at 13% CAGR during the review period, owing to the surging focus on installing highly energy-efficient lighting infrastructure. The purity of 4N products stand at 99.99%, prompting its usage in applications like lithium-ion batteries, scratch-resistant sapphire glass, etc.

In terms of application scope, the LED vertical is anticipated to amass USD 200 million in valuation by 2027, owing to emphasis on combating environmental problems like global warming and climate change which is propelling the use of energy-efficient LED products. Additionally, companies specializing in the such products are also implementing smarter technologies to elevate product efficacy in saving energy.

Concerning geographical front, Germany market is poised to record substantial growth during the assessment timeframe, owing to the proliferating automotive and semiconductor sectors in the country. Presence of reputed companies along with their primary concern of reducing GHG emissions from their products is further amplifying the regional expansion.

The key companies broadening the competitive scope of Europe high purity alumina marketplace include names like Baikowski SAS, Alcoa Corporation, Sumitomo Chemical Co. Ltd., Advanced Energy Minerals, United Company RUSAL, Altech Chemicals Ltd., Norsk Hydro ASA, Nippon Light Metal Holdings Company Ltd., and Sasol Limited among others.