According to a research report titled ‘North America High Purity Alumina Market Size By Application, By Product, By Technology, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, North America high purity alumina market valuation is projected to reach USD 726.5 million by the end of the forecast period 2021-2027.
 

As per the report findings, North America high purity alumina market growth is largely driven by surging product demand for a wide array of end-use applications such as optical lenses, sodium lamps, LEDS, semiconductors, and plasma display. Furthermore, increased requirement in non-metallurgical areas OS enhancing the overall industry outlook.
 

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For the record, the U.S. Census Bureau reported that the total construction expenditure in January 2021 saw a 1.7% hike from the projection in December 2020. This has augmented the sakes for LED lights, in turn, have augmented the demand for HPA.
 

However, the impact of the COVID-19 pandemic has become pronounced in the market, as product demand declined during the first and second quarters of 2020 due to the dip in construction projects and economic activities. Meanwhile, stakeholders are expected to lower production costs in order to expand the consumer base across the region.
 

Based on product type, North America high purity alumina industry is classified into 4N, 5N, and 6N variants. Among these, the 5N segment is anticipated to register a remarkable growth rate of 15% owing to increased demand for semiconductors and LCD product applications.
 

By technology type, the market segmentation comprises HCL leaching, and hydrolysis. Analysts cite that the hydrolysis technology segment captured over 65% of the market share in 2020. The strong demand for this technology can be  credited to the high feasibility of costs and production.
 

Moving on to application ambit, the business vertical is split into LEDs, phosphor, semiconductors, sapphire and others. The LED segment held more than 49% of the total market share in 2020 and is slated to witness considerable returns during the forecast period. This can be attributed to intensifying energy crisis, increasing R&D activities for development of LED technology, surging demand for low power consuming products, and favorable government regulations across the region.
 

Elaborating on the sapphire application sector, sapphire substrates are highly sought-after among end-user industries, owing to their unrivaled mechanical and chemical attributes, thus propelling segmental growth.
 

The competitive landscape of North America high purity alumina market sphere is defined by AluChem Inc., Nature Alu, Sumitomo Chemical Co. Ltd., Polar Sapphire Ltd., Rio Tinto (Alcan Inc.), Norsk Hydro ASA, United Company Rusal IPJSC, Alcoa Corp., Baikowski SASU, and Orbite Technologies Inc.