Bauxite Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 3.81 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bauxite Market Analysis
The Bauxite Market size is estimated at 284.41 Million tons in 2024, and is expected to reach 342.87 Million tons by 2029, growing at a CAGR of 3.81% during the forecast period (2024-2029).
- The market experienced negative impacts in 2020 due to the COVID-19 outbreak, which led to nationwide lockdowns worldwide, disruptions in manufacturing activities and supply chains, and production halts. However, in 2021, the conditions began to recover, restoring the growth trajectory of the market.
- In the medium term, the major factors driving the market studied are accelerating usage in the cement industries and continuous usage of alumina from industrial applications.
- Environmental concerns related to bauxite mining are expected to hinder market growth in the coming years.
- Increasing demand from commercial applications such as refractories and abrasives and leveling off of bauxite production from China is expected to act as an opportunity for the market studied.
- Asia-Pacific dominated the global bauxite market and is also expected to register the fastest growth in the years to come.
Bauxite Market Trends
Increasing Demand of Alumina for Metallurgical Purposes
- Bauxite is a sedimentary rock having a high content of aluminum. It is the main source of aluminum & gallium and consists mostly of aluminum minerals, namely gibbsite, boehmite, and diaspore.
- Because of its high alumina content, bauxite is a primary source for alumina production, which is then processed to produce finished products and alumina production. Thus rising alumina production is driving the market studied.
- The demand for alumina is increasing owing to its various superior properties such as low density, non-toxic nature, high thermal conductivity, excellent corrosion resistivity, and its ability to be easily cast, machined, and formed. Rising alumina production is expected to drive the market for bauxite through the upcoming years.
- Alumina is used for key industrial purposes. Other than producing aluminum, it is used for the production of spark plug insulators and metallic paints, and it is used as a fuel component for solid rocket boosters.
- Furthermore, alumina is used for the fabrication of superconducting devices, such as quantum interference devices and electron transistors. Aluminum oxide or alumina is also used as a dosimeter for radiation protection.
- According to a US Geological survey, global resources of bauxite are estimated to be between 55 billion and 75 billion tons and are sufficient to meet world demand for metal well into the future.
- As per the United States Census Bureau, revenue in mining and quarrying amounted to USD 14.39 billion in 2022, as compared to USD 13.68 billion in 2021. The revenue from this sector is projected to amount to USD 15.25 billion in 2023.
- As per data published by the United States Geological Survey, the bauxite and alumina increased significantly from 2790 million metric tons.
- Mining and metallurgy are key industries in the country. Canada supplies over 60 metals and minerals to different countries worldwide. The mining industry invests in innovation and new technologies, which rapidly reshapes the sector. The mining industry also witnessed consolidations, which led to speculations regarding the growth prospects for the industry in the coming years.
- Therefore, owing to all the above-mentioned factors, increasing demand for alumina for metallurgical purposes is expected to boost the demand for the market studied over the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the market for bauxite during the forecast period. In countries such as China, Australia, and India, owing to rapid industrialization and an increase in the usage of aluminum in various industries, such as building and construction, foil, and packaging, the demand for bauxite continues to increase in the region.
- Furthermore, superior properties of aluminum, like corrosion resistance, high ductility, high strength, and lightweight, have led to an increase in the adoption of aluminum for producing light vehicle parts, which is propelling the bauxite market in the region.
- Additionally, demand for bauxite is rising in the region due to its usage as a raw material in making refractory products since it has a high melting point. Refractory grade bauxite is used to manufacture bricks to line the roof of electric arc steel-making furnaces and blast furnaces.
- Bauxite is also used for manufacturing cement by mixing it with limestone. The cement produced has high alumina content and is known for its rapid settling time and strength, leading to an increasing demand for bauxite in the region.
- The increasing trend of electric vehicles may further propel the demand for aluminum alloys. The government of China estimates a 20% penetration rate of electric vehicle production by 2025. This is reflected in the electric vehicle sales trend in the country, which went record-breaking high in 2022. As per the China Passenger Car Association, the country sold 5.67 million EVs and plug-ins in 2022, touching almost double the sales figures achieved in 2021.
- The domestic electronics manufacturing sector has been expanding at a steady rate, owing to favorable government policies, such as 100% Foreign Direct Investment (FDI), no requirement for an industrial license, and the technological transformation from manual to automatic production processes. New incentives, such as the Modified Incentive Special Package Scheme (M-SIPS) and Electronics Development Fund (EDF), have been started in the country with a budget of USD 114 million for the domestic manufacturing of electronics in India.
- Some of the major manufacturers of the market studied operating in Asia-Pacific include Alumina Limited, Australian Bauxite Limited, and Rio Tinto.
- Therefore, the aforementioned factors are likely to boost the demand for bauxite in the region during the forecast period.
Bauxite Industry Overview
The bauxite market is partially consolidated in nature, with top players accounting for a significant share of the global market. Some of the major companies in the market include Rio Tinto, RusAL, Alcoa Corporation, Alumina Limited, and Norsk Hydro ASA, among others (not in any particular order).
Bauxite Market Leaders
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Rio Tinto
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Alcoa Corporation
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Alumina Limited
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Norsk Hydro ASA
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RusAL
*Disclaimer: Major Players sorted in no particular order
Bauxite Market News
- February 2023: Norsk Hydro ASA announced its collaboration with Wave Aluminium to establish a bauxite waste recovery plant in Brazil. The recovery plant is designed to have a capacity of handling 50,000 tonnes of bauxite residue per year.
Bauxite Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Continuous Usage of Alumina from Industrial Applications
- 4.1.2 Accelerating Usage in the Cement Industries
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Environmental Concern Related to Bauxite Mining
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Production Analysis
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Application
- 5.1.1 Alumina for Metallurgical Purposes
- 5.1.2 Cement
- 5.1.3 Refractories
- 5.1.4 Abrasives
- 5.1.5 Other Applications
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5.2 Geography
- 5.2.1 Asia-Pacific
- 5.2.1.1 China
- 5.2.1.2 India
- 5.2.1.3 Japan
- 5.2.1.4 South Korea
- 5.2.1.5 Australia and New Zealand
- 5.2.1.6 Rest of Asia-Pacific
- 5.2.2 North America
- 5.2.2.1 United States
- 5.2.2.2 Canada
- 5.2.2.3 Mexico
- 5.2.3 Europe
- 5.2.3.1 Germany
- 5.2.3.2 United Kingdom
- 5.2.3.3 Italy
- 5.2.3.4 France
- 5.2.3.5 Russia
- 5.2.3.6 Rest of Europe
- 5.2.4 South America
- 5.2.4.1 Brazil
- 5.2.4.2 Argentina
- 5.2.4.3 Rest of South America
- 5.2.5 Middle-East and Africa
- 5.2.5.1 Saudi Arabia
- 5.2.5.2 South Africa
- 5.2.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Alcoa Corporation
- 6.4.2 Alumina Limited
- 6.4.3 Aluminum Corporation of China Limited
- 6.4.4 Australian Bauxite Limited
- 6.4.5 Compagnie des Bauxites de Guinée (CBG)
- 6.4.6 GRAFIT MADENCILIK SAN. TIC. A.S.
- 6.4.7 Iranian Aluminium Co.
- 6.4.8 LKAB Minerals
- 6.4.9 Norsk Hydro ASA
- 6.4.10 Possehl Erzkontor GmbH & Co. KG
- 6.4.11 Queensland Alumina Limited
- 6.4.12 Rio Tinto
- 6.4.13 RusAL
- 6.4.14 Vimetco NV
- 6.4.15 YunXiang Develop Co.,Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Demand from Commercial Applications such as Refractories and Abrasives
- 7.2 Levelling Off of Bauxite Production from China
Bauxite Industry Segmentation
Bauxite is a reddish clay-based rock that is most commonly found in tropical and subtropical regions. Bauxite is majorly composed of aluminum oxide compounds (alumina), silica, iron oxides, and titanium dioxide.
The market is segmented by application and geography. By application, the market is segmented into alumina for metallurgical purposes, cement, refractories, abrasives, and other applications. The report also covers the market size and forecasts for the Bauxite Market in 18 countries across major regions.
For each segment, the market sizing and forecasts have been done on the basis of volume (million tons).
| Application | Alumina for Metallurgical Purposes | |
| Cement | ||
| Refractories | ||
| Abrasives | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Australia and New Zealand | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Russia | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Bauxite Market Research FAQs
How big is the Bauxite Market?
The Bauxite Market size is expected to reach 284.41 million tons in 2024 and grow at a CAGR of 3.81% to reach 342.87 million tons by 2029.
What is the current Bauxite Market size?
In 2024, the Bauxite Market size is expected to reach 284.41 million tons.
Who are the key players in Bauxite Market?
Rio Tinto , Alcoa Corporation , Alumina Limited, Norsk Hydro ASA and RusAL are the major companies operating in the Bauxite Market.
Which is the fastest growing region in Bauxite Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bauxite Market?
In 2024, the Asia Pacific accounts for the largest market share in Bauxite Market.
What years does this Bauxite Market cover, and what was the market size in 2023?
In 2023, the Bauxite Market size was estimated at 273.97 million tons. The report covers the Bauxite Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bauxite Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bauxite Industry Report
Statistics for the 2024 Bauxite market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bauxite analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
