Bauxite - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Bauxite Market is accounted for $9.90 billion in 2019 and is expected to reach $15.08 billion by 2027 growing at a CAGR of 5.4% during the forecast period. Some of the key factors propelling the growth of the market include the growing demand for aluminum from various end-use sectors, including construction, automotive, packaging, and electrical and electronics, growing demand for bauxite mining, and expanding manufacturing activities in the Asia Pacific. However, neurological problems such as chronic brain syndrome and Alzheimer’s diseases caused by bauxite are restricting the growth of the market.
Bauxite is a type of sedimentary rock that has a high content of aluminum. It is considered to be the world's main source of gallium and aluminum. It mainly consists of aluminum minerals gibbsite, boehmite, and the diaspora. Australia is considered to be the largest producer of bauxite. Bauxite is mainly strip-mined as it is found near the surface of the terrain.
By application, alumina production is anticipated to grow at a significant rate during the forecast period owing to its high alumina content, which is further processed to manufacture finished products. Alumina production is rising, especially in the Asia Pacific, owing to growing demand from downstream industries, such as automotive and construction.
Based on geography, the Asia Pacific region is expected to have considerable market growth during the forecast period due to the presence of primary aluminum-producing countries in the Asia Pacific, such as China, Australia, and India. Rising tensions with China owing to the origin of the COVID-19 pandemic and rising protectionist policies are expected to encourage domestic production of primary aluminum and spur bauxite demand in the long term.
Some of the key players in Bauxite Market include Halco Mining, Australian Bauxite Limited, Rio Tinto plc, Hindalco Industries Ltd., Metallica Minerals Limited, Alcoa Corporation, Norsk Hydro ASA, Compagnie des Bauxites de Guinée (CBG), Tata Steel Europe Ltd., Mitsubishi Aluminum Co., Ltd., NALCO India, Tajik Aluminium Company, Nippon Light Metal Company, Ltd., and Aluminum Corporation of China Limited.
• Refractory Grade
• Metallurgical Grade
• Trihydrate or Gibbsitic Bauxite
• Mixed Bauxite
• Monohydrate Bauxite
• Alumina Production
• Artificial Corundum
• Glass Manufacturing
• Below 35%
• Above 60%
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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