The global market of Bauxite Mining is projected to grow at a significant CAGR of 6.6% and will reach US$ 20,661.9 Mn by the end of the 2026. Moreover, with growing demand for aluminum products across the globe, Bauxite Mining activities will increase and are expected to gain significant traction in the coming years. Moreover, growing adoption of aluminum products across the globe owing to their light weight and other such properties will be a key driver for the Bauxite Mining market.
Bauxite Mining Market Segmented By Production of Alumina, Non-Metallurgical Products like Abrasives, Refractories, Chemicals Applications
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Bauxite Mining Market – Overview
Bauxite is a rock with a high aluminum content. It is the main ore from which aluminum is extracted. Bauxite is one of the most abundant elements on earth. Contains almost 25%-30% alumina. Bauxite is generally found in the belt around the equator. It occurs mainly in tropical and subtropical regions, in horizontal layers below a few meters of the clearing. Bauxite is a mixture of aluminum hydroxides, clay minerals, hydrated aluminum oxides, and insoluble materials, such as hematite, magnetite, quartz, goethite, and siderite. Aluminum minerals in bauxite include gibbsite Al(OH)3, diaspore, AlO(OH), and boehmite AlO(OH).
Also, in the global bauxite mining market, some of the top bauxite mining countries are Australia, China, Guinea, Brazil, and India. These countries are the top 5 bauxite mining countries and had an 86.2% share of the total global bauxite production in 2017. Similarly, the top 5 bauxite consuming countries are China, Brazil, Australia, India and Russia. These countries had an 81% share of total bauxite consumption in 2017.
Bauxite Mining Market: Dynamics Influencing Growth
Global production of primary aluminum increased by 5.8% in 2017. The outlook for the aluminum industry remains positive despite ongoing political uncertainty due to various policy stances, such as US tariffs on aluminum imports. aluminium, Brexit and the concern that China, as the world’s leading producer of aluminum and its semi-finished products, could increase its exports to European markets.
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Bauxite is the key aluminum-containing ore with more than 35% to 40% aluminum content. Therefore, due to the increase in primary aluminum production, the demand for bauxite is expected to increase significantly in the future.
However, bauxite mining has a direct impact on nature and the environment. Air pollution, water pollution, and soil and food contamination are the main side effects of bauxite mining.
Bauxite Mining Market: Forecast
By region, China is projected to dominate the bauxite mining market in terms of consumption. Furthermore, China is the world’s largest producer of aluminum products worldwide. This also makes the region the most important consumer of bauxite and alumina, which are necessary for the manufacture of aluminum products. The country is projected to grow at a prominent CAGR of 6.4% during the forecast period and is also expected to maintain its dominance throughout the forecast period.
By application, in value and volume terms, the alumina segment production is expected to dominate the global Bauxite Mining market during the projected period. The alumina application segment of the bauxite mining market is projected to create an incremental opportunity of US$7,845.5 million between 2018 and 2026.
Bauxite Mining Market: Competitive Landscape
Some of the key market players that are directly involved in the Bauxite Mining market are Alcoa Corporation, Rio Tinto Plc, National Aluminum Company Limited, Australian Bauxite Ltd, Gujarat Mineral Development Corporation Ltd, Norsk Hydro ASA, Metro Mining Ltd, ASHAPURA GROUP OF INDUSTRIES, The Aluminum Corporation of China and United Company Rusal PLC, among others.
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