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.
Major Factors Driving Revenue Growth of the Global Bauxite Mining Market:
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. Furthermore, owing to its high melting point, bauxite is in high demand as a source of industrial refractory materials. Bauxite of refractory grade is utilized for making electric steel making and blast furnaces.
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Competitive Landscape:
The report offers details about financial standing, global positional, license agreement, business expansion plans and product portfolios of each player operating in the market. The global Bauxite Mining market is extremely competitive and comprise various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, collaborations, joint ventures, partnerships, RD investments and new product launches to gain robust footing in the market and expand their product portfolio.
Key Companies in the market include: 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.)
Report Overview:
The materials and chemicals industry revenue has rapidly expanded over the recent past. The global Bauxite Mining market is expected to register robust revenue growth during the forecast period, 2021-2028. Revenue growth of the global market is significantly driven by factors such as high demand for raw materials and chemicals across various sectors including food and beverages, paper pulp, chemicals and medical, biotechnology and pharmaceutical and rapid urbanization and industrial developments worldwide. In addition, increasing per capita income, rising investments by public and private organizations and rising demand for eco-friendly and sustainable products due to rising awareness about carbon emissions are expected to boost global market growth during the forecast period.
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Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Bauxite Mining market report:
- What is the expected market size of the global Bauxite Mining market during the forecast period?
- What factors are expected to hamper global Bauxite Mining market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Bauxite Mining market?
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