According to the research report titled ‘GLOBAL High Purity Alumina (Hpa) Market 2021-2028’, available with Market Study Report, global high purity alumina (HPA) market is projected to exhibit a CAGR of 16.65% (by volume) and 16.15% (by revenue) during the forecast period 2021-2028.
 

As per the report findings, rising inclination towards LED bulbs and upsurge in electric vehicle manufacturing are the key growth enablers of global high purity alumina (HPA) market. Moreover, soaring investments in various end-user industries is expected to present several growth opportunities during the forecast period.
 

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On the contrary, high costs associated with production of high purity alumina coupled with stringent regulations on red mud extracts are impeding business development.
 

Based on type, global high purity alumina (HPA) industry is categorized into 6N HPA, 5N HPA, and 4N HPA. In terms of technology, the industry is split into hydrolysis and hydrochloric acid leaching (HCL). Moving to application segmentation, the market is divided into semiconductor substrate, LED bulbs, optical lenses, Li-Ion batteries, biomedical devices, and others.
 

Elaborating on the geographical landscape, top contributors to the overall high purity alumina (HPA) market growth are Asia Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries), Latin America (Latin America, Brazil), Europe (Russia, Germany, France, Italy, Spain, U.K.), North America (U.S., Canada), and Middle East and Africa (Turkey, United Arab Emirates, Saudi Arabia, South Africa).
 

Industry experts cite that North America market is slated to record robust growth over the projected timeline. This can be ascribed to growing housing sector, along with rapid progression of electronics & semiconductor industries in the region.
 

Prominent players influencing global high purity alumina (HPA) market dynamics are FYI Resources Ltd., Polar Sapphire Ltd., Rusal, Andromeda Metals Ltd., Zibo Honghe Chemical Co., Ltd., Alpha HPA Ltd., Xuan Cheng Jing Rui New Material Co., Ltd., Sasol Ltd., Sumitomo Chemical Co., Ltd., Norsk Hydro ASA, Baikowski SAS, Nippon Light Metal Holdings Company, Ltd., Alcoa Corp., and Altech Chemicals Ltd.