– Rapid penetration of electric vehicles (EVs) speeds up manufacturing of lithium-ion batteries, spurring demand for high-purity alumina (HPA) for boosting the battery performance, valuation to rise at robust CAGR of 19.2% during 2019 – 2027
ALBANY, N.Y., Feb. 10, 2021 /PRNewswire/ — Automotive and consumer devices electronics manufacturers constantly seek new chemistries in lithium-ion (Li-ion) batteries. High-purity alumina (HPA) for lithium-ion (Li-ion) batteries form a key component of this, where HPA is used as a coating in the separator. The use of HPA coating results in the improvement of anode characteristic of the Li-ion battery. Advanced Li-ion battery chemistries show promise recently in peak load management and renewable integration applications. As a result, companies are testing their propriety HPA coating technologies for developing new battery chemistries, expanding the horizon in the HPA for lithium-ion batteries market.
Key end-use application areas in the HPA for Li-ion batteries market are laptops and tablets, mobile phones, and UPS. Prominent automotive applications are electric vehicles, plug-in hybrid electric vehicles. High-purity alumina 4N grade is increasingly preferred in next-gen consumer electronics, and the use is also gaining traction in LEDs and energy storage capacitors.
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Clocking CAGR of 19.2% from 2019 to 2027, the global HPA for Li-ion batteries market is projected to reach worth of US$ 453 mn by the end of this forecast period.
Key Findings of High-purity Alumina (HPA) for Lithium-ion (Li-ion) Batteries Market
Numerous Applications Underpin High-commercial Value of HPA
HPA, a high-purity form of aluminium oxide (Al2O3), is used as coating to improve the chemistries of Li-ion batteries. HPA is also used in sapphire ingots. Numerous benefits for battery manufacturers drive the use of HPA coatings, notably long life cycle, good chemical stability, and high thermal stability, and reduced self-discharge rate. Improvement in these characteristics are a priority concern in numerous emerging applications that need secondary storage devices, propelling the growth of HPA for Li-ion batteries market.
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Consumer Electronics Presents Incredible Prospect
Demand for high-performance batteries for mobile electronic devices is a key driver for the expansion of the avenues. The segment is a highly lucrative one, given the high appetite for mobile consumer devices in electronics industry. Focus of countries including China to roll out 5G services has picked up momentum, spurring investments in 5G infrastructure. This will open up new application areas, where HPA-coated anode chemistries are used in next-gen consumer electronics.
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Rapid Pace of Commercialization of EVs Spurs HPA for Li-ion Batteries Market
Numerous developed and developing countries are witnessing the rapid penetration of electric vehicles, presenting a vast avenue for businesses in the HPA for Li-ion batteries market. Long-range EVs present a remarkable lucrative and steady revenue stream for Li-ion battery manufacturers who focus on emerging demands for high-performance battery chemistries in automotives. Thus, the strides made in manufacturing of electric vehicles has spurred the application of HPA-coated batteries. Developments avenues for EVs are prominent in China, South Korea, and the U.S. Other countries from Asia Pacific have also joined the fray. Global automakers investing in these EV markets will also cement the prospect of HPA for Li-ion batteries market.
High-purity Alumina (HPA) for Lithium-ion (Li-ion) Batteries Market: Key Driving Factors and Promising Avenues
- Increasing investments in electric vehicles manufacturing bolsters uptake of HPA for Li-ion batteries in automotive
- Extensive demand for consumer electronics with better battery performance characteristics to drive demand in HPA for Li-ion batteries market
- Growing IoT applications in developing economies around the world bolster the application of HPA in Li-ion batteries
- Growing investments by governments to reduce the carbon footprint of transportation industry promote market prospect
- Strides being made in automotive industry boosts application
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High-purity Alumina (HPA) for Lithium-ion (Li-ion) Batteries Market: Key Players
- Xuan Cheng Jing Rui New Material Co., Ltd.
- Oxide India Pvt Ltd.
- Zibo Honghe Chemical Co. Ltd.
- Orbite Technologies Inc.
- Polar Sapphire Ltd.
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