Portland, OR, March 16, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global high purity alumina market was estimated at $1.1 billion in 2018, and is expected to hit $5.1 billion by 2026, registering a CAGR of 21.7% from 2018 to 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and changing market trends.
Increase in adoption of LED bulbs over traditional bulbs and rise in investment in end-use industries fuel the growth of the global high purity alumina market. On the other hand, high cost of production restrains the growth to some extent. However, surge in demand from emerging economies is expected to create multiple opportunities in the segment.
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The LED Bulbs segment to lead the trail during the forecast period-
Based on application, the LED bulbs segment accounted for nearly half of the total market share in 2018 and is expected to dominate throughout the forecast period. The li-ion batteries segment, on the other hand, is projected to grow at the fastest CAGR of 26.6% during 2019–2026.
The hydrolysis segment to rule the roost by 2026-
Based on technology, the hydrolysis segment contributed to 95% of the total market revenue in 2018 and is anticipated to maintain its dominance during the study period. At the same time, the HCL leaching segment would cite the fastest CAGR of 24.8% throughout the estimated period.
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Asia-Pacific to dominate in terms of revenue-
Based on geography, the Asia-Pacific region held the largest share in 2018, generating more than two-thirds of the total market. Simultaneously, North America would showcase the fastest CAGR of 22.7% by 2026.
Leading market players-
The key market players analyzed in the global high purity alumina market include Alcoa Inc., Altech Chemicals Ltd., Nippon Light Metal Holdings Company, Ltd., Xuan Cheng Jing Rui New Material Co. Ltd., Hebei Pengda Advanced Materials Technology Co., Ltd. Orbite Technologies Inc., Zibo Honghe Chemical Co. Ltd., Sumitomo Chemical Co., Ltd., Baikowski SAS, and Sasol. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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