Bauxite Market Overview by Product, Application, Regional Demand and Prominent Players

Bauxite Industry Overview

The global bauxite market size is expected to reach USD 18.15 billion by 2030, registering a CAGR of 1.7% from 2022 to 2030, according to a new report by Grand View Research, Inc.  Increasing use of aluminum foil in the packaging industry is one of the key growth drivers for the market.

The rising need for packaged food is causing manufacturers of aluminum foil to invest in new production plants. For instance, in January 2022, SRF Limited, a manufacturer of industrial and specialty intermediates, decided to invest USD 55.80 million in setting up an aluminum foil manufacturing plant with a production capacity of 21,000 tons in Indore, Madhya Pradesh, India.

Bauxite Market Segmentation

Grand View Research has segmented the global bauxite market based on the product, application, and region:

Based on the Product Insights, the market is segmented into Bauxite Metallurgical Grade, Bauxite Refractory Grade, and Others

• Metallurgical grade held the largest revenue share of more than 86.0% in 2021 of the global market. It contains alumina in the range of 50- 55%.
• The increasing demand for alumina from various industries such as automotive & transportation, packaging, building & construction is expected to propel the demand for the product across the forecast period.
• The refractory grade is expected to witness a growth rate of 2.0% across the forecast period in terms of revenue.
• Rising investments in refractory manufacturing facilities are anticipated to raise the demand for refractory grades across the forecast period.

Based on the Application Insights, the market is segmented into Alumina Production, Refractory, Cement, and Others

• Alumina production held a revenue share of over 85.0% in 2021 of the global market.
• The refractory is one of the important application segments of the market. Refractories are used in various industries including steel, glass, ceramics, cement, and petrochemicals.
• Cement is another application segment of the market, and the segment is expected to register rapid growth across the forecast period.

Bauxite Regional Outlook

• North America
• Europe
• Asia Pacific
• South & Central America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Key market players compete largely based on quality, price, and proximity to customers, as well as strategically located long-term bauxite resources in Guinea, Australia, and Brazil which are the world’s largest reserves of the product. Furthermore, they engage in capacity expansions, mergers & acquisitions, and aggressive R&D activities to stay ahead of their competitors.

For instance, in March 2022, South32 acquired an additional stake in Mineracao Rio do Norte (MRN), a firm that operates the largest bauxite mine in Brazil. The company already owned 14.8% of MRN and has now bought 18.2% from Grupo Alcoa.

Some prominent players in the global Bauxite market include:

• Alcoa Corporation
• Rio Tinto
• Aluminum Corporation of China Limited (CHALCO)
• Norsk Hydro ASA
• South32
• Rusal
• NALCO India
• Hindalco Industries Ltd
• Emirates Global Aluminium PJSC

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