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Global Bauxite Market 2020-2025

Global Bauxite Market 2020-2025

Submitted by • October 19, 2020 www.expertmarketresearch.com

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 the 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 the 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 s

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