Global Bauxite Market to Reach 308.5 Million Metric Tons by the Year 2027
Amid the COVID-19 crisis, the global market for Bauxite estimated at 272.6 Million Metric Tons in the year 2020, is projected to reach a revised size of 308.5 Million Metric Tons by 2027, growing at a CAGR of 1.8% over the period 2020-2027.Metallurgical Alumina, one of the segments analyzed in the report, is projected to grow at a 1.6% CAGR to reach 286.9 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Metallurgical Alumina segment is readjusted to a revised 3.9% CAGR for the next 7-year period. This segment currently accounts for a 6.1% share of the global Bauxite market.
The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 3.5% CAGR for the Period of 2020-2027
The Bauxite market in the U.S. is estimated at 73.9 Million Metric Tons in the year 2020. The country currently accounts for a 27.09% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of 59.2 Million Metric Tons in the year 2027 trailing a CAGR of 3.5% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.2% and 1.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.7% CAGR while Rest of European market (as defined in the study) will reach 59.2 Million Metric Tons by the year 2027.We bring years of research experience to this 19th edition of our report. The 166-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
-Competitors identified in this market include, among others,
- Alcoa Corporation
- Alumina Limited
- Aluminum Corporation of China Limited
- CVG Bauxilum
- Hindalco Industries Limited
- National Aluminum Company Ltd.
- Norsk Hydro ASA
- South32 Limited
- United Company RUSAL