The global bauxite mining market is estimated to have been valued at US$12 423.8 million in 2018 and is projected to grow at a value CAGR of 6.6% and reach a value of US$20 661.9 million by the end of 2026. Moreover, the global market is anticipated to create total incremental dollar opportunity of US$8238.1 million between 2018 and 2026.
Bauxite is a rock with high aluminium content. It is the primary ore from which aluminium is extracted. Bauxite is one of the most abundant elements on earth. It contains nearly 25 - 30% of alumina. Bauxite is generally found in the belt around the equator. It occurs mostly in tropical and subtropical regions, in horizontal layers beneath a few meters of the overburden. Bauxite is a mixture of aluminium hydroxides, clay minerals, hydrous aluminium oxides and insoluble materials, such as hematite, magnetite, quartz, goethite and siderite. Aluminium minerals in bauxite include gibbsite Al(OH)3, diaspore, AlO(OH) and boehmite AlO(OH).
Furthermore, in the global market of bauxite mining, some of the top bauxite mining countries are Australia, China, Guinea, Brazil and India. These countries are the top five bauxite mining countries and held 86.2% share in the total production of bauxite globally in 2017. Similarly, the top five bauxite consuming countries are China, Brazil, Australia, India and Russia. These countries held 81% share in total bauxite consumption in 2017.
Dynamics influencing growth
The global primary aluminium production increased by 5.8% in 2017. The outlook for the aluminium industry continues to be positive in spite of the ongoing political uncertainty due to various political stances, such as import tariffs by the US on aluminium, Brexit and concerns that China, as the world’s leading producer of aluminium and its semi-finished products, might increase its exports to the European markets.
Bauxite is the key aluminium containing ore with more than 35% to 40% of aluminium content. Thus, due to increasing primary aluminium production, demand for bauxite is expected to rise significantly in future.However, bauxite mining has a direct impact on nature and surroundings. Air pollution, water pollution, and soil and food contamination are the major after-effects of bauxite mining.
By region, China is projected to dominate the bauxite mining market in terms of consumption. Moreover, China is the world’s largest producer of aluminium products across the globe. This also makes the region the most important consumer of bauxite and alumina, both of which are required for the manufacturing of aluminium 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 terms of value and volume both, the production of alumina segment is expected to dominate the global bauxite mining market throughout the projected period. The alumina application segment in the bauxite mining market is projected to create incremental dollar opportunity worth US$7845.5 million between 2018 and 2026.
Some of the key market players directly involved in the Bauxite Mining market 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.
Read the article online at: https://www.globalminingreview.com/finance-business/10072019/persistence-market-research-launches-report-on-bauxite-mining-market/