Bauxite Market Size, Share to Grow at a CAGR of 3.65% during the forecast period until 2035by Ganesh Kumar SEO Specialist
According to ChemAnalyst report, “Bauxite Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2035”, Over the coming decade, the Bauxite market is expected to grow significantly, reaching approximately 462 million tonnes in 2035 at a CAGR of 3.65%. The bauxite market will further expand throughout the projected period with the demands from the Alumina Production, Refractory, Cement, and other end-use sectors.
Bauxite is a reddish-brown, whitish, or tan and has a rocky texture. Bauxite serves as a starting material for synthesizing Alumina (Al2O3). Alumina is created by processing bauxite ore. Alumina is a whitish, yellowish powder with properties like significant thermal conductivity, incredible hardness, prevention against abrasion, resistance to various chemical attacks, and protection against corrosion protection. Alumina is used for electric and thermal insulation manufacture abrasives, refractories, glass products, and ceramics. Alumina is further converted to aluminium by a smelting process known as Hall-Heroult Process. Aluminium is additionally utilized in the Transportation, Construction, Electrical, and manufacturing of Consumer Goods like foil. Aluminium is also used for creating aircraft parts due to its lightweight nature. Additionally, pure aluminium is utilized in the aviation sector for foil and honeycomb structures and oil and gasoline pipes.
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Aluminium is widely used to make light vehicle parts due to its remarkable properties such as its high strength, high ductility, and lightweight. Aluminium demand is likely to experience as electric vehicles will be manufactured in bulk in the coming times demanding greater need for alumina. Thus, alumina production is the primary driving factor for the bauxite market to expand globally. The alumina production sector consumed a volume of approximately 92% of the total global Bauxite market in 2021.
The Bauxite market is segregated based on end-use, grade, sales channel, and region. Australia is the largest bauxite producer in the current scenario. Australia is ranking one as bauxite producer and contributed approximately 30% of the global bauxite production in 2021. The leading producer for Bauxite is the Republic of Guinea on a worldwide level.
Based on demand by region, Asia Pacific was the dominant region for the consumption of Bauxite in 2021 and is anticipated to maintain this position in the forecast time of 2035 with a CAGR of 4.13%. In 2021, The second largest consumer of Bauxite was Europe, and is expected to maintain its position in the forecast period.
Based on grade, the Bauxite market is segregated into Metallurgical Grade and Refractory Grade. The metallurgical grade dominates the global bauxite market and was holding a market share of about 77% in 2021 and expected to dominate the market with an expected CAGR of 4.43%.
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Based on end-uses, the Bauxite market is segregated into Alumina Production, Refractory, Cement, and others. The highest demand for Bauxite is by the Alumina Production sector, and it is anticipated to stay the biggest shareholder in the coming decade with an expected CAGR of 4.01%. Interestingly, the Cement sector is likely to grow with an impressive CAGR of 5.74%. Bauxite’s major applications are the manufacturing of alumina and aluminum. Additionally, pure aluminium is utilized in the aviation sector for foil and honeycomb structures and oil and gasoline pipes.
“Bauxite Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2035”, the significant players functional in the Global bauxite are Rio Tinto Ltd., Aluminum Corporation of China Limited (CHALCO), Alcoa World Alumina and Chemicals, South32, Alliance Mining Commodities, Compagnie des Bauxites de Guinea (CBG)(JV), and Emirates Global Aluminium.
“The rapidly increasing demand for lightweight and durable materials in the industries call for growing demand of aluminium projecting to enhance expansion of the Bauxite market in the forecast period until 2035. Consistently growing demand for aluminium due to its high strength, high ductility, and light weight makes it a perfect material for manufacturing parts of the aircrafts and other structures and aerospace industry. Plus, in the upcoming times aluminium will be utilized for making lightweight parts for electric vehicles which are more reliable, driving the market expansion in the upcoming years.“said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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Created on Nov 16th 2022 22:56. Viewed 156 times.