Bauxite Market Size Worth $18.15 Billion By 2030 | CAGR: 1.7%

 Bauxite Industry Overview

The global bauxite market size was valued at USD 15.59 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 1.7% from 2022 to 2030. The favorable government policies for electric vehicles (EV) and rising investment in the production of lightweight vehicles are anticipated to propel the demand for aluminum. This trend is likely to prove fruitful for the growth of the bauxite industry in the forecast period. For instance, in February 2022, Volvo Cars decided to invest in aluminum mega casting in its Torslanda manufacturing plant, Sweden. The investment is worth USD 1.1 billion and the mega casting makes the production process less complex and it reduces the overall environmental footprint.

The U.S. holds the largest share of the North American bauxite market. The growth in aluminum and cement production is expected to benefit market growth. According to the Aluminum Association, in the U.S., the amount of aluminum is expected to grow to 514 pounds (lbs) per vehicle by 2026 as it is the most used material by automakers.

Gather more insights about the market drivers, restrains and growth of the Global Bauxite market

 

Rising demand for aluminum flat-rolled products in automotive industries is making its manufacturers increase their production capacity, thereby fueling the demand for bauxite. For instance, in October 2021, Novelis Inc., a leading aluminum flat-rolled products manufacturer announced its plan to invest USD 30 million in its plant in Oswego.

According to the U.S. Geological Survey (USGS), the production of cement increased to 92 million tons in 2021 from 89 million tons in 2020. Thus, rising demand for aluminum in various industries and increasing production of cement are projected to boost the bauxite market growth across the forecast period.

Magnesium alloy and carbon fiber are the primary substitutes for aluminum in the automotive sector. Magnesium alloys offer better machinability along with dent resistance, which favors their demand. Furthermore, they also shield from damped vibrations and electromagnetic radiations. These advantages are anticipated to negatively impact market growth over the forecast period.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

  • Prepreg Market - The global prepreg market was valued at USD 11.05 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.8% from 2023 to 2030. The market is expected to witness robust growth on account of the increasing use of prepreg materials in the aerospace and automotive industries.

 

  • Industrial Furnace Market - A thermal inclusion, an industrial furnace is used to process and treat raw materials at high temperatures in both their solid and liquid states. A system for industrial heat treatment, that warms to temperatures beyond a 1000 degrees Fahrenheit. A number of industries, including manufacturing, the production of iron and steel, glass, calcination in cement production, non-ferrous metals, and ceramic processing, use industrial furnace.

 

Bauxite Market Segmentation

Grand View Research has segmented the global bauxite market based on the product, application, and region:

Bauxite Product Outlook (Revenue, USD Billion; Volume, Kilotons, 2017 - 2030)

  • Bauxite Metallurgical Grade
  • Bauxite Refractory Grade
  • Others

Bauxite Application Outlook (Revenue, USD Billion; Volume, Kilotons, 2017 - 2030)

  • Alumina Production
  • Refractory
  • Cement
  • Others

Bauxite Regional Outlook (Revenue, USD Billion; Volume, Kilotons, 2017 - 2030)

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


Key Companies profiled:

Some of the prominent players in the bauxite market include:

  • Alcoa Corporation
  • Rio Tinto
  • Aluminum Corporation of China Limited (CHALCO)
  • Norsk Hydro ASA
  • South32
  • Rusal
  • NALCO India
  • Hindalco Industries Ltd.
  • Emirates Global Aluminium PJSC

 

Order a free sample PDF of the Bauxite Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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