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 size is anticipated to exceed a valuation USD 85 million by the end of the forecast timeframe.
 

Increasing popularity of high-end consumer electronics and stringent regulations concerning use of energy sources are majorly driving the Europe high purity alumina (HPA) market growth, claims the study.
 

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For the unversed, HPA is utilized as a foundation material for creating sapphire substrates for a variety of non-metallurgical applications. Plasma display screens, LED panels and lights, scratchproof glass displays for watches and smartphones are few of the use-cases of these substrates.
 

Elaborating on the COVID-19 impact, the pandemic hindered the market as many construction projects were halted due to lockdowns and transportation restrictions, and production of LED items declined due to significant scarcity of raw materials & manpower.
 

However, as the situation in Europe improves, production of LED components is likely to regain pace and subsequently boost the demand for high purity alumina in the region.
 

Based on product type, high purity alumina market in Europe is fragmented into 4N, 5N, and 6N. Among these, 4N products segment will grow significantly at an annual rate of 13% throughout the analysis period owing to escalating demand for lighting system that is both energy-efficient and eco-friendly.
 

Considering the application spectrum, the LED segment is anticipated to attain a valuation of USD 200 million by 2027. European customers are becoming increasingly aware of the excessive strain being put on natural resources in order to meet augmented electrical demand and have shifted to LED products. Moreover, LED component manufacturers are now introducing intelligent technology to improve their products' energy-saving performance for boosting adoption.
 

With respect to the geographical assessment, Germany market is predicted to grow at a significant rate owing to rapidly expanding automotive and semiconductor industries. In fact, the country is home to some of the world's recognized automobile businesses.
 

Speaking of the competitive landscape, Alcoa Corp., Advanced Energy Minerals, Altech Chemicals Ltd., Nippon Light Metal Holdings Co. Ltd., Sasol Ltd., Norsk Hydro ASA, OK Rusal MKPAO (United Company RUSAL), Sumitomo Chemical Co. Ltd., and Baikowski SA are among the major companies influencing Europe high purity alumina industry trends.