Global Bauxite Market (2021 to 2026) – Growth, Trends, COVID-19 Impact and Forecasts – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Bauxite Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Global Bauxite Market is projected to register a CAGR of over 3% during the forecast period (2021-2026).
- Alcoa Corporation
- Alumina Limited
- Aluminum Corporation of China Limited
- Australian Bauxite Limited
- Compagnie des Bauxites de Guinee (CBG)
- GRAFIT MADENCILIK SAN. TIC. A.S.
- Iranian Aluminium Co.
- LKAB Minerals
- Norsk Hydro ASA
- Possehl Erzkontor GmbH & Co. KG
- Queensland Alumina Limited
- Rio Tinto
- Vimetco NV
- YunXiang Develop Co.,Limited
Key Market Trends
Increasing Demand of Alumina for Metallurgical Purposes
- Bauxite is a sedimentary rock having high content of aluminium. It is the main source of aluminium & gallium and consists mostly of aluminium minerals namely gibbsite, boehmite and diaspore.
- Because of its high alumina content, bauxite is a primary source for alumina production, which is then processed to produce finished products and alumina production. Thus rising alumina production is driving the market studied.
- The demand for alumina is increasing, owing to its various superior properties such as low density, non-toxic nature, high thermal conductivity, excellent corrosion resistivity, and its ability to easily cast, machined and formed. Rising alumina production is expected to drive the market for bauxite through upcoming years.
- Alumina is used for key industrial purposes. Other than producing aluminum, it is used for the production of spark plug insulators and metallic paints, and it is used as a fuel component for solid rocket boosters.
- Furthermore, alumina is used for the fabrication of superconducting devices, such as quantum interference devices and electron transistors. Aluminum oxide or alumina is also used as a dosimeter for radiation protection.
- According to U.S.Geological survey, global resources of bauxite are estimated to be between 55 billion and 75 billion tons and are sufficient to meet world demand for metal well into the future.
- According to World Bureau of Metal Statistics, the aluminum production in Canada in the year is around 2.9 million metric tons in 2019.
- Therefore, owing to all the above-mentioned factors, increasing demand for alumina for metallurgical purposes is expected to boost the demand for the market studied over the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the market for bauxite, during the forecast period. In countries, such as China, Australia, and India, owing to rapid industrialization and an increase in usage of aluminum in various industries, such as building and construction, foil and packaging, the demand for bauxite cont inues to increase in the region.
- Furthermore, superior properties of aluminum, like corrosion resistance, high ductility, high strength, and lightweight, have led to increase in the adoption of aluminum for producing light vehicle parts, which is propelling the bauxite market in the region.
- Additionally, demand for bauxite is rising due to its usage as a raw material in making refractory products, since it has a high melting point. Refractory grade bauxite is used to manufacture bricks to line the roof of electric arc steel making furnaces and blast furnaces.
- Bauxite is also used for manufacturing cement by mixing with limestone. The cement produced has high alumina content and known for its rapid settling time and strength, leading to an increasing demand for bauxite in the region.
- The increasing trend of electric vehicles may further propel the demand for aluminum alloys. China is expected to produce more than 10 million electric vehicles by 2022, which may surge the demand of aluminum for producing light weight vehicle body parts, thus, stimulating the bauxite market in the region.
- Furthermore, pure aluminum is used in the aviation industry, for oil and fuel pipes and foil and honeycomb structures.
- According to World Bureau of Metal Statistics, the production of bauxite in the year 2019 in China is amounted to approximately 68 million metric tons and in Australia the production is amounted to approximately 105 million metric tons whereas India produced around 26 million metric tons.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Continuous Usage of Alumina from Industrial Applications
4.1.2 Accelerating Usage in the Cement Industries
4.2.1 Environmental Concern Related to Bauxite Mining
4.2.2 Unfavorable Conditions Arising due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.5 Production Analysis
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand from Commercial Applications such as Refractories and Abrasives
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/6xkpao
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