(MENAFN- GlobeNewsWire - Nasdaq) Rockville , May 17, 2023 (GLOBE NEWSWIRE) -- According to a revised study Fact.MR, a market research and competitive intelligence provider, the global high purity aluminium (hpa) market is estimated at US$ 4 billion in 2022 and is expected to expand at a high CAGR of 11.1% from 2022 to 2032. The market is expected to grow rapidly due to the remarkable contribution of HPA in increasing the conductive and performance of electronic devices.
Demand for HPA is increasing in a number of end-use industries such as semiconductors, consumer electronics, automotive, and aerospace. A major application of HPA includes the manufacturing of special sensors for decorative purposes in high-end vehicles.
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The semiconductor sector is growing at a rapid rate and is expected to continue in the same path during the forecast period. At the same time, research in the aerospace industry has also picked up pace and the implementation of sophisticated electronics has considerably increased over the past decade. The automotive industry, on the other hand, is going through a decline. However, the sales of EVs are increasing and this trend is expected to carry on in the future.
Key Takeaways from Market Study
The high purity aluminium market was valued at US$ 3.7 billion in 2021 and is projected to increase at a CAGR of 11.1% through 2032. The East Asia HPA market is estimated to be valued at US$ 6 billion by the end of 2032. China dominates the global market with a share of 35.6% in 2022. Among the semiconductor sub-segments, chip production is estimated to be prominent; the segment was valued at US$ 1.5 billion at the end of 2021.
“Proliferating demand for semiconductors to play a vital role in the huge adoption of high purity aluminium due to its cost-effective aspect with remarkable conductivity,” says a Fact.MR analyst.
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Key Companies Profiled in This Report
Chalco Join World Kyushu Mitsui Aluminium Nature Alu Nippon Light Metal Holding Co. Norsk Hydro RuSAL Showa Denko KK Sumitomo Chemicals Co., Ltd.
Manufacturers with Winning Strategies
Manufacturers such as Sumitomo Chemicals Co., Ltd., Nippon Light Metal Holding Co., and others are adopting ground-breaking strategies to survive in a highly competitive market and gain high-profit margins.
Furthermore, capacity expansion and enhancement of supplier and distributor networks have turned out to be prominent growth strategies. Digital platforms are enabling market players to reach more customers and increase their brand recognition.
High purity aluminium manufacturing requires the usage of sophisticated equipment and devices. As a result, manufacturing such compounds is usually accompanied by high operational costs. Roughly, a CAPEX of US$ 297.6 million and an OPEX of US$ 44.6 million are needed for setting up a standard plant with an annual capacity of 4,000 tons.
Segmentation of High Purity Aluminium Industry Research Report
By Grade : By End Use : Semiconductors Chip Production Flat Panel Display Production Thin Film Production Electrolytic Capacitor Foils Electronic Storage Systems Others
Aerospace Defense Automotive Others
By Form : Disks Pellets Ingots Wires & Coils Others
By Region : North America Latin America Europe East Asia South Asia & Oceania MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global high purity aluminium market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of grade (4n, 5n, 6n), end use (semiconductors [chip production, flat panel display production, thin film production, electrolytic capacitor foils, electronic storage systems, others}, aerospace, automotive, others), and form (disks, pellets, ingots, wires & coils, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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