Based on data by Persistence Market Research this report on ‘Bauxite Mining Market’ delivers a succinct analysis on industry size, regional growth and revenue forecasts for the upcoming years. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.
Under the scope of study on Bauxite Mining, we have covered detailed information about Bauxite Mining market structure, ongoing trends, value & volume projections, competition landscape and dynamics in the Bauxite Mining market, along with recent developments across the global market for the study period 2018 to 2026.
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Some of the market participants covered in this global report on Bauxite Mining are Alcoa Corporation, Rio Tinto Plc, National Aluminium Company Limited, Australian Bauxite Ltd, Gujarat Mineral Development Corporation Ltd, Norsk Hydro ASA, Metro Mining Ltd, ASHAPURA GROUP OF INDUSTRIES, The Aluminium Corporation of China and United Company Rusal PLC, among others.
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.
Alumina Segment Estimated to Hold Majority Share in Terms of Bauxite Consumption
Bauxite is available in huge quantities across the globe. However, its mining and export patterns have changed significantly according to the availability of Bauxite. Bauxite is majorly consumed in the manufacturing of alumina within the aluminum industry. Approximately 6.5% of total Bauxite produced is consumed in non-metallurgical applications, such as in abrasives, refractories, chemicals and others.
Malaysia and Indonesia to Re-enter Bauxite Mining Market
Indonesia has re-entered the Bauxite Mining market after the ban imposed on the export of Bauxite in 2014. The government of Indonesia had banned the export of Bauxite to enhance its own smelting industry. Furthermore, Malaysia is also expected to re-enter the Bauxite Mining market during the first half of 2019. The government of Malaysia had banned Bauxite Mining in the country in 2015 with an aim to curb growing pollution due to sudden expansion in Bauxite production in the country. The key reason behind this expansion of production in the country was to fill the supply gap in 2014 after the Indonesian government banned Bauxite export.
Asia Pacific to Dominate the Global Bauxite Mining Market in Terms of Production and Consumption
Asia Pacific is one of the most prominent regions in the global Bauxite Mining market. In terms of consumption, the region is estimated to hold more than 79.3% share in the global Bauxite Mining market by the end of 2028. Moreover, growing demand for aluminum products in the region can be attributed to infrastructural development and rapid establishment of various industries. Hence, growing demand for aluminum products from the region is anticipated to create healthy demand for Bauxite Mining in future. Furthermore, North America is estimated to hold minimal share in the global market. This can be attributed to the limited Bauxite reserves in the region. The region is importing alumina directly rather extracting it from Bauxite itself.
Bauxite Mining Market – Competitive Landscape
The global market for Bauxite Mining is moderately consolidated. Tire 1 players hold the dominant share in the Bauxite Mining market. Moreover, the manufacturers are operating mining activities in multiple locations across the globe. Many manufacturers are operating mines in collaboration with other market players. Moreover, rather than providing the raw material i.e. Bauxite, manufacturers and governments of various regions are engaged in the manufacturing and supply of semi-finished or finished products (alumina or aluminum) directly to end users. Manufacturers having their own mines are engaged in further processing of alumina and are exporting the rest after captive consumption. Manufacturers who do not have their own Bauxite mines are importing Bauxite ore or alumina to feed their refinery/smelters.
In the recent past, the Bauxite Mining market has witnessed significant developments from a competitive perspective. Collaborations, mergers and acquisitions are some of the key strategies being opted by prominent players to sustain in the global market of Bauxite Mining.