Bauxite Mining Market Trend 2030 | Alcoa Corporation (U.S.), Rio Tinto (U.K.), South32 (Australia)

Bauxite Mining
Bauxite Mining

The global Bauxite Mining market size was robust in 2021 and is expected to register a steady revenue CAGR during the forecast period. Bauxite is a major source of aluminum, the most readily available metal in the earth’s crust. Open cast mining is used to recover bauxite, which is usually always found closer to the surface, using procedures that vary significantly based on location. Bauxite is mostly found in tropical and subtropical regions such as South Africa, South America, and Australia, and tiny concentrations in Europe. With five operational bauxite mines, Australia is the largest producer of bauxite across the globe. The majority of bauxite mined is transformed into alumina, which is then used to produce aluminum.

The most basic and widely available ore of aluminum and gallium is bauxite. The main raw material for primary aluminum production is the bauxite ores gibbsite, diaspore, and böhmite. Stringent Government rules and restrictions on carbon dioxide emissions levels have driven Auto manufacturers to develop fuel-efficient lightweight automobiles. Aluminum has superior qualities, such as resistance to corrosion along with high strength, ductility, durability, and ultralight structure, which have led to its growing usage in the car industry for the production of portable vehicle parts. Demand for bauxite is expected to rise as the market for high aluminum products rises, and new sources are identified or become economically feasible. Furthermore, increased usage of bauxite in the production of clinker and cement drives revenue growth of the market.

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Top Key Players: Alcoa Corporation (U.S.), Rio Tinto (U.K.), Aluminum Corporation of China Limited (CHALCO) (China), Norsk Hydro ASA (Norway), South32 (Australia), Rusal (Russia), NALCO India (India), Hindalco Industries Ltd. (India), Emirates Global Aluminium PJSC (U.A.E.)

Key Drivers Analysis:

Bauxite is the main source of aluminum manufacturing due to its high aluminum content. Rising demand for aluminum goods in the automotive sector is forcing manufacturers to boost manufacturing capacity, hence driving bauxite demand. Its exceptional qualities, including as low density, non-toxicity, high thermal conductivity, great corrosion resistance, and ease of casting, work to its advantage. Apart from manufacturing aluminum, it is increasingly being used to manufacture engine spark plugs, insulators, and metallic paints, as well as for fueling components of solid rocket boosters.

However, strict regulatory guidelines by the governments of various countries are imposed on CNT due to environmental impact, which is expected to hamper revenue growth of the market. CNT is composed of nanoscale particles that are non-biodegradable and once it contaminates the environment, it is difficult to remove. This when mixed with air and soil, is frequently washed into rivers and lakes, where it can cause health issues such as oxidative stress, inflammation, cell damage, and adverse effects on cell performance for both, animals and humans. Human kidneys can be severely damaged by nanoparticles, and blood sugar levels can rise as a result.

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Segments covered in the report:

Type Outlook (Revenue, USD Billion; 2019-2030)

  • CA50
  • CA70
  • CA80

Application/End Use Outlook (Revenue, USD Billion; 2019-2030)

  • Metallurgical Alumina
  • Abrasives
  • Refractory
  • Cement Sectors

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Regional Outlook (Revenue, USD Billion, 2021-2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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