Bauxite Mining Market Current Overview by 2020
Australia is the largest producer and exporter of bauxite globally, with five bauxite mine contributing more than one fourth of the global bauxite production. There are five steps involved in the extraction of bauxite starting with preparation of bauxite area, secondly, bauxite mining, crushing, ore transportation and lastly rehabilitation of land. On an average one square meter of land can extract one metric ton of aluminum.
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Around 85% of bauxite mined globally is converted to alumina which is further used for the production of aluminum metal. Other major application of bauxite mining is for commercial purpose such as abrasives and refractory’s. Automobile industry is the major end-user of aluminum metal owing to associated benefits of aluminum metals such as corrosion-free, high-density and lightweight features.
North America has the largest market share for bauxite mining owing to increased aluminum demand in the region. Europe and Asia Pacific region follows North America in bauxite demand. North America is expected to maintain its dominance in the forecasted period. Europe is expected to witness marginal growth. However, Asia Pacific region is expected to witness highest growth in the coming future owing to the increasing domestic demand from the automobile industries in the emerging markets of India, China and Japan.
Due to corrosion-free, high-density and lightweight features, aluminum metal is gaining its important in the automobile industries to manufacture lightweight vehicle parts. This is driving the global demand for bauxite mining. Additionally, growth in the transportation sector such as airplanes, trucks, railcars and marine is further expected to increase the global bauxite mining demand.
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Owing to the increasing demand of aluminum by the automobile industry have influence the aluminum manufacturing companies to invest more in bauxite extraction business. Some of the major companies operating in the global clinical nutrition products market are Aluminum Corporation of China Limited, Access Industries, Tata Steel Europe Ltd., Halco Mining, Tajik Aluminium Company, Mitsubishi Aluminum Co., Ltd., Queensland Alumina Limited, Nippon Light Metal Company, Ltd., Australian Bauxite Limited, Iranian Aluminium Company and Alumina Limited.
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