Preference for highly durable and sustainable conducting media to bolster adoption in producing microchips, thus heightening growth prospects.
DUBAI, UAE / ACCESSWIRE / February 8, 2021 / Fact.MR: Award winning market research company Fact.MR has published a detailed report on the global high purity aluminium market. According to the study, the market is poised to significantly recover from the pandemic-induced blip, registering a steady annual growth rate. Anticipated CAGR for the forthcoming decade is pegged at a staggering 11%, with the automotive and semiconductor industries exhibiting tremendous potential.
As per the report, the market expanded by nearly a tenth in the historical period. While a blip of 3% was experienced from H1-H2, stability was recorded with a resurgence in production levels from Mainland China and Taiwan, as restrictions began to ease in the wake of flattening infection curves. Furthermore, increased demand for semiconductor chips in the wake of the digital revolution has also helped sustain growth.
Recent shifts towards AI, machine learning, quantum computing and IoT have led to a deepening penetration of semiconductor based chips across devices. Rising forays for discovering alternatives to silicon, the market for new and emerging semiconductor substrates is witnessing credible incline. Amongst all alternatives, aluminium based semiconductors are acquiring widespread popularity, thereby expected to pivot future expansion prospects.
“Key high purity aluminium manufacturers are experiencing tremendous growth across key end-use industries, including the aerospace and defence sector as well. Burgeoning air travel is likely to increase aircraft supply, thus requiring high grade aluminium based alloys,” comments the Fact.MR analyst.
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Key Takeaways from Fact.MR’s High Purity Aluminium Market Study
By grade, 4N high purity aluminium to reach high valuation, given its application in manufacturing LED bulbs and electronic displays
Aluminium ingots to emerge as a potential cash cow, to be used in manufacturing fasteners and bolts for the automobile and shipping industries
Semiconductor production to capture the lion’s share, chip production emerging as a highly lucrative segment
U.S to account for an attractive market share, driven by an increase in adoption of smart technology
China to register staggering growth, attributed to robust metals and minerals production and mining capacities
U.K likely to experience modest growth in the wake of weakening demand from the automotive sector
Germany and France to retain strong growth rates, amid rising EV production through 2031
High Purity Aluminium Market– Prominent Drivers
High demand for LED bulbs is heightening growth prospects for high purity aluminium manufacturers, driven by rising energy efficiency concerns
Surging demand for lithium ion batteries for the EV segment to bolster future pure grade aluminum sales
Favorable government policies to augment semiconductor production to accelerate high purity aluminum expansion prospects
High Purity Aluminum Market- Key Restraints
High extraction costs combined with intense carbon generation at different stages to restrict expansion prospects
Tighter government control due to generation of ‘red mud’, a potentially toxic effluent, has compelled end-users to opt for cleaner alternatives
Discover more about the high purity aluminium market with 146 figures and 100 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/625/high-purity-aluminium-market
Chalco, Join World, Kyushu Mitsui Aluminium, Nature Alu, Nippon Light Metal Holding Co., Norsk Hydro, RuSAL, Showa Denko KK and Sumitomo Chemicals Co. Ltd. are some prominent high purity aluminum manufacturers profiled by Fact.MR in its extensive market research report. These players largely concentrate on diversifying their product portfolio along with entering into collaboration with numerous entities.
For instance, in November 2020, Kyushu Mitsui Aluminium entered into a contract for supplying maintenance equipment for railway track and overhead wiring with the Dedicated Freight Corridor Corporation of India Ltd. The price is approximately ¥18 billion, related to the Western Dedicated Freight Corridor project between Mumbai and Delhi.
Also, in October 2019, Nippon Light Metal Holding Co. Ltd.’s North America branch inked a collaboration agreement with ITOCHU Metals Corporation to establish a joint venture across the United States for the development, manufacturing and distribution of aluminium components for automobiles.
More Insights on the High Purity Aluminium Market
Fact.MR, in its new offering, presents an unbiased analysis of the global high purity aluminium market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the market on the basis of grade (4N, 5N, and 6N), end use (semiconductors [chip production, flat panel display production, thin film production, electrolytic capacitor foils, electronic storage systems, and others], aerospace, automotive, and others), and form (disks, pellets, ingots, wires and coils, and others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Oceania).
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