The global bauxite market size is projected to reach USD 12.88 billion by 2027, expanding at a CAGR of 3.3% from 2020 to 2027, according to a new report by Grand View Research, Inc. Continuous growth in the production of primary aluminum is expected to remain a key factor in driving the market over the coming years.
Bauxite is the key raw material used for the production of primary aluminum. As per the statistics released by the International Aluminum Institute, in 2018, the primary aluminum production increased from nearly 54,647 kilotons in 2014 to approximately 64,336 kilotons in 2018. This caused a subsequent increase in the demand for the product over the respective period.
The market is undergoing significant transformational change, driven by strong demand for aluminum. Until 2013, China targeted Malaysia and Indonesia for its bauxite supply, however both countries imposed bans or restrictions owing to poor mining practices in 2014. Since 2014, China has been sourcing its bauxite supply largely from Guinea and to some extent form Australia.
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The lockdowns imposed by many countries across the globe owing to COVID-19 pandemic have stalled construction activities and caused a severe decline in terms of downstream demand for aluminum. However, major smelters and bauxite miners were largely unaffected, which has pushed inventory levels to a new high, putting additional pressure on product prices along the entire value chain.
Among the leading players operating in the market, Alcoa Corporation holds the largest market share. The company has a wide portfolio comprising joint ventures, subsidiaries, and affiliated companies in the industry. The company has carried out many strategic investments over the years to capture the largest portfolio of mined bauxite around the globe.
Bauxite Market Report Highlights
l Asia Pacific captured the largest share of 68.0% in 2019 in terms of volume as the region has the largest primary aluminum production capacity in the globe
l By product, metallurgical grade is expected to exhibit the fastest CAGR in terms of revenue from 2020 to 2027 owing to expanding manufacturing activities in Asia Pacific
l Based on application, alumina production dominated the market with a volume share of 91.0% in 2019. Alumina production is rising, especially in Asia Pacific, owing to growing demand from downstream industries, such as automotive and construction
l The cement application segment is poised to register a CAGR of 3.2%, in terms of revenue, from 2020 to 2027 on account of rising research & development activities to find new applications of product in cementitious materials
l In March 2019, Rio Tinto completed the construction of a new bauxite mine in Queensland, Australia. The total value for developing this project was around USD 1.9 billion. The company aimed to replace its production from depleting mines of Weipa.
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Bauxite Market Segmentation
Grand View Research has segmented the global bauxite market on the basis of product, application, and region:
Bauxite Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
Bauxite Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
Bauxite Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
Central & South America
Middle East & Africa
Key Topics Covered
Table of Content
Chapter 1 Methodology and Scope
1.1 Market segmentation & scope
1.2 Market definition, research scope and assumptions
1.3 List of data sources
1.4 Information procurement
1.5 Information analysis
1.6 Market formulation & data visualization
1.7 Data validation & publishing
Chapter 2 Executive Summary
2.1 Market outlook
2.2 Market snapshot
2.3 Competitive outlook
Chapter 3 Bauxite Market Variables, Trends, & Scope
3.1 Penetration & growth prospect mapping
3.2 Industry value chain analysis
3.2.1 Raw material trends
3.2.2 Technology overview
3.2.3 Sales channel analysis
3.3 Regulatory framework
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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