Bauxite Market Size, Share & Trends Report

Bauxite Market Size, Share & Trends Analysis Report By Product (Metallurgical Grade, Refractory Grade), By Application (Alumina Production, Refractory), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jun, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-637-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 104

Report Overview

The global bauxite market size was valued at USD 9.90 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2020 to 2027. The growth of the market is largely attributed to growing demand for aluminum from various end-use sectors, including construction, automotive, packaging, and electrical and electronics. Bauxite is primarily used as a raw material for alumina production, which is further used as a feedstock for producing aluminum, and therefore the market is primarily driven by aluminum production around the globe. The industry is undergoing significant transformational change, driven by strong demand from China. China dominated the global bauxite industry with a massive revenue share of 58.0% in 2019. As per the statistics provided by International Aluminum Institute, China was the largest producer of primary aluminum and produced roughly 58% of it in 2019. Therefore, China was the largest market as of 2019 and is predicted to remain so over the forecast period.

China bauxite market size

The marketspace in China is projected to witness strong competition over the coming years. The market players are targeting their business strategies to penetrate China’s large aluminum manufacturing sector. China’s tightened bauxite supply owing to stricter mining is expected to drive huge influx of bauxite imports in the country over the coming years.

The supply of bauxite have been largely unaffected by the COVID-19 pandemic in 2019. Major supplier countries such as Guinea, Australia, and Brazil are yet to announce the closure of their mines, whereas mines in China have restored their operations to nearly pre-crisis levels. However, weak demand conditions for aluminum from the downstream sectors, such as automotive and transportation and building and construction, is likely to push the market to a very high surplus.

Product Insights

Metallurgical grade dominated the market for bauxite and captured a revenue share of 85.5% in 2019. This can be attributed to the large-scale production of primary aluminum across Asia Pacific. Thus, there is a rising demand for the product from Asia Pacific, which is likely to boost the growth of the metallurgical grade bauxite in the long term.

Refractory grade is likely to witness sluggish growth over the forecast period due to overall slowdown in refractories production. The refractory grade bauxite is mainly found in China and its demand is mainly driven by domestic refractory producers of the country. However, other countries like Brazil have also started introducing refractory grade bauxite to the refractory manufacturers since the past few years.

Application insights

Alumina production dominated the bauxite market with a volume share of 91.0% in 2019. Bauxite is a primary source for alumina production owing to its high alumina content, which is further processed to manufacture finished products. Increasing demand for finished products from the end-use industries, such as automotive and construction, is likely to fuel segment growth.

The refractory application segment is bearing the brunt of shrinking demand for refractories. Refractories are largely used for steel making. In fact, the iron and steel industry consumes around 70% of the global refractories market. However, the specific consumption of refractories per ton of steel is decreasing. Additionally, the overall slowdown in global steel output is a major factor for the relatively slower growth of the refractory application segment.

Global bauxite market share

Bauxite residue is used as an additive in the production of Portland cement clinkers. According to the IAI, aluminum and iron constituents of bauxite provide valuable additions in the production of Portland cement at a low cost. China, India, Ukraine, Russia, Moldova, Georgia, and Greece are the major countries that currently utilize bauxite in their respective cement sectors.

Regional Insights

Asia Pacific held the largest market share of 68.0% in 2019, in terms of volume. This can be attributed to the presence of primary aluminum-producing countries in Asia Pacific, such as China, Australia, and India. As per the IAI statistics, about 67.5% of global primary aluminum in 2019 was produced in Asia Pacific.

Demand in China until 2018 was largely met by its domestic reserves until 2018.  However, the supply has been tightened and heavily regulated in the Shanxi province since 2018, which constitutes majority of the country’s product reserves. The Shanxi government has clamped down on illegal mining across the province, which has tightened domestic production. As a result, bauxite currently is majorly sourced from Guinea and Australia.

Canada is a major producer of primary aluminum in North America and constitutes majority of the bauxite demand in the region. Until the COVID-19 pandemic in 2020, the market in North America witnessed moderate growth, however U.S. is likely to emerge as the worst hit nation by COVID-19 in the globe. Slowdown in construction projects and pressure on working capital due to inventory buildup are some of the key challenges faced by the market players of the country.

Demand for bauxite in European countries is mainly met by imports from China, Guinea, and India. Europe has limited presence in the upstream aluminum sector as few countries, such as Russia and Norway, are the large-scale producers of primary aluminum in the region. Rising tensions with China owing to the origin of the COVID-19 pandemic and rising protectionist policies are expected to encourage domestic production of primary aluminum and spur bauxite demand in the long term.

Key Companies & Market Share Insights

The global market has been characterized by high competition with the presence of large-scale multinational players. The aforementioned vendors have integrated operations starting from bauxite mining to alumina refining and subsequently have primary aluminum production facilities. However, apart from the fully integrated participants, the market also comprises vendors who are solely focused on bauxite mining. Some of the prominent players in the bauxite market include:

  • Alcoa Corporation

  • Rio Tinto

  • Rusal

  • Norsk Hydro ASA

  • NALCO India

  • Hindalco

  • Ma’adeen

  • South32

  • CHALCO

Bauxite Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 9.5 billion

Revenue forecast in 2027

USD 12.9 billion

Growth Rate

CAGR of 3.3% from 2020 to 2027

Market demand in 2020

296,018.9 kilotons

Volume forecast in 2027

389,901.4 kilotons

Growth Rate

CAGR of 2.9% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in Kilotons, Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Volume and revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

U.S.; Canada; Russia; Norway; Germany; Turkey, China; India; Japan; Australia; Brazil; UAE; Bahrain

Key companies profiled

Alcoa Corporation; Rio Tinto; Rusal; Norsk Hydro ASA; NALCO India; Hindalco; Ma’adeen; South32; CHALCO

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, country, and regional levels, and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global bauxite market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Metallurgical Grade

    • Refractory Grade

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Alumina Production

    • Refractory

    • Cement

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • Russia

      • Norway

      • Germany

      • Turkey

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Central & South America

      • Brazil

    • Middle East & Africa

      • UAE

      • Bahrain

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