As per the global High-purity Alumina market research, this sector is estimated to grow at a CAGR of about 27.88% within the time between 2013 till the year 2018. One of the major drawbacks of this market is the steadily increasing prices of production.
The world high purity alumina market is growing by leaps and bounds due to the fact that it is experiencing a favorable market for LED displays and LED Lighting which are gradually becoming very popular amongst consumers. Also referred to as ‘Smelter Grade Alumina’ or SGA, alumina or Al2O3 is generally utilized for fabrication of metallic aluminum metal. Only 10% of the globally produced alumina is provided for non-industrial purpose usage by the market which is non-metallurgical while the remaining 90% is employed in the fabrication of aluminum. This market is classified into four broad categories like Phosphor Applications, Semiconductor Applications, LED Applications and others.
The global high purity alumina industry is driven by the rising demand for LED displays and also LED Lights, which are motivating majority of consumers. Also, increasing investment in research and development is encouraging this industrial sector largely.