In May 2023, Mr. Roland Hill, the Manager Director of FYI Resources Ltd. (ASX: FYI; OTCQX: FYIRF, FSE: SDL), highlighted in an interview with “Metals 100” that the company has optimized the commercialization phase of its flagship project for high purity alumina (HPA) and developed an innovative process design for comprehensive production of high-quality, high purity alumina.
High purity alumina, considered the future metal, boasts extensive demand. Surprisingly, two major drivers of its growth are renewable energy and artificial intelligence (AI). According to data from Grand View Research, the global market size for high purity alumina was approximately $3.2 billion in 2022, with a projected compound annual growth rate (CAGR) of around 22% from 2023 to 2030.
Also known as non-metallurgical grade alumina (Al2O3), high purity alumina exhibits extremely high purity, with advantages such as chemical stability, heat resistance, wear resistance, and good electrical insulation. With advancing technology, the applications of HPA continue to expand, primarily in semiconductor, lithium battery, aerospace, defense, medical, and smart electronic device sectors.
Presently, the highest demand for high purity alumina application lies in LED (at 49%), but the most promising area is lithium-ion batteries. The sustained growth prospects for HPA are driven by the thriving electric vehicle and stationary storage markets, with a predicted growth rate exceeding 17% (CAGR).
Vehicle fires are a media hotspot and a key safety concern for electric vehicle consumers. With its high thermal stability, chemical inertness, and compatibility with electrolytes, high purity alumina serves as an excellent coating material for lithium battery ceramic separators, thereby enhancing the power, functionality, and safety of battery cells.
