Bauxite Market is Booming Across the Globe by Share, Size, Growth, Segments and Forecast to 2029 The strict government policies for mitigating carbon emission have pushed automotive manufacturers to produce fuel-efficient lightweight vehicles. Aluminium possesses incredible properties due to which its adoption has significantly increased in automotive industries for the manufacture of lightweight vehicle parts. The rise in aluminium in turn is driving the growth of the bauxite market. Furthermore, the increased investment in lightweight automobiles development and favourable government regulations on electric vehicles (EVs), is likely to propel the demand for aluminium. As the demand for aluminium rolled products is growing in the automotive industry, the manufacturers are forced to expand the production capacity. Such a business landscape is contributing to the holistic growth of the global bauxite market. For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/bauxite-market Refractory and Aluminium Usage Likely to Fuel Growth in Bauxite Market Refractory, a material used inside a furnace for providing protection from high temperature and corrosion, is among the market’s most important application segments. Refractories are used in various industries including petrochemicals, cement, glass, steel, and cement. Bauxite due to its high melting point is always in great demand as the raw material for the manufacture of refractory products. The roofs of electric arc steel marking furnaces and blast furnaces are lined using bricks made of refractory grade bauxite. This has surged the demand for refractory and aluminium, which in a way, created notable demand for bauxite at global level. In coming years, rapidly increasing industrialization and demand for aluminium is anticipated to propel growth across the global bauxite market. Extensive Application in Cement to Aid Global Market Bauxite Growth Another application segment predicted to experience growth in the forecasted period is Cement. The bauxite residue is used as an additive in the manufacturing of Poland cement clinkers. Russia, India, China, Moldova, Ukraine, India, Georgia, and Greece are the countries who currently use bauxite residue in their cement sectors. The manufacturers are collaborating with the cement industry to produce cement using bauxite residues and limestone. The cement thus made is rich in alumina content, possesses great strength and settles down quickly. Such an extensive application of bauxite in producing cement is
projected to put forth a substantial business opportunity. In coming years, the key players are likely to roll out new products and form strategic alliances to sustain competitive advantage. Bauxite Market in North America to Experience Fastest Growth in Forecast Period The market in North America is likely to experience the fastest growth in the forecasted period. The majority of the bauxite market in the region comes under the supervision of the U.S. Large-scale automobile plants, infrastructure developments, a sturdy construction industry, and several end-users in the region, are fuelling the demand for alumina. Naturally, these trends are expected to surge the demand of bauxite in the forecasted period. Moving forward the global bauxite resources are expected to grow in the region. Notable Market Players Some of the most prominent players in the Bauxite market include Rio Tinto, Rusal, Hindalco Industries Ltd, Aluminum Corporation China Limited (CHALCO), NALCO India, Alcoa Corporation, Norsk Hydro ASA, South32, and Emirates Global Aluminium PJSC. For More Information Visit: https://www.fairfieldmarketresearch.com/report/bauxitemarket About Us Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.