Global bauxite mining market to remain lucrative through 2021

As aluminium increasingly becomes the metal of choice for OEMs across industries bauxite mining stands to grow at a commendable per annum rate through 2021. According to the latest study by Persistence Market Research, the global bauxite market will grow significantly during 2016-2021.

Going by the U.S. Geological Survey data, the world’s total bauxite production in 2015 was 15 per cent more than that in 2014. Total mine production reported from 30 countries stood at 200 million tonnes. The leading bauxite producers (in decreasing order of tonnage) were Australia, China, Brazil, Malaysia, India, Guinea and Jamaica. China and Australia together accounted for 49 per cent of the world’s production.

During the five years period under review bauxite mine production is expected increase manifold all over the world.

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Around 85 per cent of bauxite mined globally is converted to alumina which is further used for the production of primary aluminium metal. Other major applications of bauxite mining are for commercial purpose such as abrasives and refractories. The demand is projected to increase from all the sectors with aluminium industry at the forefront. Automobile industry is expected to generate the biggest traction for the entire aluminium value chain.

Looking at region-wise growth, North America, the erstwhile largest contributor to the bauxite mining market, would continue to dominate during the period under forecast. Europe is expected to witness marginal growth, whereas, Asia Pacific is expected to witness the highest growth owing to the increasing domestic demand from the automobile industries in the emerging markets of China, India and Japan.