The new report by Expert Market Research titled, ‘Global Bauxite Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global bauxite market, assessing the market based on its segments like grades, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 13.2 billion
• Forecast CAGR (2020-2025): 6.4%
• Forecast Market Size (2025): USD 19.4 billion
The growth of the mineral in the forecast period is attributed to the increasing demand for aluminium. The product is used extensively in steel, cement, refractory, and other industries. Therefore, the rapid growth of the construction sector globally is likely to propel the demand for bauxite. North America is anticipated to hold a significant market share in the bauxite market in the forecast period. Bauxite is also used in water and sewage treatment, which is of significant importance amidst the COVID-19 pandemic.
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Industry definition and segmentation
Bauxite is a silt rock, which is typically a soft material with a hardness of only 1-3 on a Mohs scale. It has a high aluminium content and is the main source of aluminium in the world. Primarily, bauxite consists of minerals like gibbsite, hematite, boehmite, anatase, goethite, and ilmenite. In order to obtain bauxite, the process of strip mining is conducted.
Bauxite is primarily found in two grades, namely:
• Refractory grade
• Metallurgical grade
Based on application, the industry is segmented into:
• Alumina Production
The regional markets of bauxite are:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Due to the wide range of applications of bauxite, the growth of the market is anticipated to grow at a healthy pace. The bauxite industry is mainly driven by its use in the manufacture of aluminium as the product is the main source of aluminium in the world. Region-wise, North America, Europe, and the Asia Pacific have witnessed a high demand for aluminium. However, because of the pandemic, the stocks of aluminium reached record levels due to the slump in demand in the first quarter of 2020. The market is on the revival mode in the fourth quarter, consequently increasing the demand for bauxite.
Key Market Players
The major players in the market are Alcoa Corporation (NYSE: AA), Norsk Hydro ASA (OTCMKTS: NHYDY), South32 Limited (OTCMKTS: SOUHY), Aluminum Corporation of China Limited (NYSE: ACH), and Rio Tinto Limited (OTCMKTS: RTNTF), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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