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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Bauxite Market Growth
Bauxite is a silt rock, that has a high aluminium content. It is the main source of aluminium in the world. Primarily, bauxite consists of minerals like gibbsite, hematite, boehmite, anatase, goethite, and ilmenite. It is generally found near the terrain's surface; therefore, strip mining, a form of surface mining, is conducted.
One of the major factors driving the bauxite market development is the usage of bauxite in the manufacture of aluminium chemicals. Aluminium tristearate is used as a lubricating grease, textile finishing agent, and gelling agent in a wide range of applications. Moreover, the product is used as a raw material in the production of refractory products owing to its high melting point. Refractory grade bauxite is employed in the manufacturing of bricks to align the roof of electric arc steel making blast furnaces, furnaces, and stoves, whereas the fusion of calcined bauxite produces abrasive grains for usage in the abrasive sector.
Bauxite Market Report Snapshots
Bauxite Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market size attained a value of approximately USD 16.75 billion.
The market is projected to grow at a CAGR of 6.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 28.59 billion by 2032.
The major drivers of the market are the rising demand for energy, and the growing technological advancements.
The key trends guiding the growth of the market include the technological advancements and the rising demand from the developing regions.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading grades of bauxite in the market are refractory grade and metallurgical grade.
The significant deposit types of barite in the market are bedding, residual, vein, and cavity filling, among others.
The major end uses in the market are paints and coatings, textiles, rubber and plastics, adhesives, and pharmaceuticals, among others.
The major players in the market are Alcoa Corporation, Norsk Hydro ASA, South32 Limited, Aluminum Corporation of China Limited, and Rio Tinto Limited, among others.
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