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Bauxite is a type of sediment rock with highest content of aluminum. It is the world’s principal source of aluminum and gallium. Bauxite contains gibbsite, boehmite, diaspore, and 2 iron containing ores haemetite and geoethite. Bauxite is mined using strip mining method as the ores are found near surfaces of terrains. The extraction of alumina is carried by Bayer’s process. It is generally found in tropical and sub-tropical regions like Australia, Brazil, India, China and others.
Increasing demand from end-use industries like chemicals, constructions, general manufacturing, steel, electronics and others for aluminum and alumina based products is likely to foster the market. For instance, bauxite is directly employed in producing aluminum based flocculating agents. It is also used in making refractory products due to its high boiling point. The increasing use abrasives, alumina based quick setting cement, and other industries shall rive the market growth.
However, the stringent rules imposed by government on mining activities shall hinder the market growth. For instance, in 2015, the Malaysian government banned mining to control the growing pollution in the country. Such aspects are likely to limit the market growth.
Based on type, the market is segmented into, CA-50, CA-70, CA-80, and others. Based on application, the market is segmented into, metallurgical alumina, abrasives, refractory, cement, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Market Driver -
Increasing demand from end-use sectors.
Key Market Restraint -
Stringent government regulations.
The global bauxite mining market consists of global & regional players operating. Some of the key players in the market include Tata Steel, Alcoa Corporation, Mitsubishi Aluminum Co., Ltd., Australian Bauxite Limited, Queensland Alumina Limited, Tajik Aluminum Company, Access Industries, Nippon Light Metal Company, Ltd., Aluminum Corporation of China Limited, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific holds the largest share in the market. China is the world’s largest producer and consumer of alumina followed by other Asian countries like India, Australia, and Indonesia. Moreover, Australia was the largest producer of bauxite in 2018 with production of approximately 86400 thousand tons and was followed by China. Europe is estimated to hold the second-largest share in the market attributed to the rapid industrial development and high demand for alumina from automobile sector. North America is estimated to show considerable growth attributed to the small reserves of bauxites in the region. Latin America and Middle East & Africa is expected to show considerable growth by the end of the forecast period.
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