The calcined bauxite market size was valued at USD 5.06 billion in 2023 and is expected to be worth USD 5.20 billion in 2024. The market is projected to reach USD 6.53 billion by 2032, recording a CAGR of 2.9% during the forecast period.
Calcined bauxite is a mineral manufactured by sintering raw bauxite at high temperatures. These temperatures can go as high as 1500o C. This form of bauxite has high alumina content, making it highly resilient against high temperatures. Calcined bauxite is widely used in several refractory applications as it has shown great resistance against molten slag. The increasing demand for refractory products is one of the key factors boosting the adoption of this mineral.
However, the COVID-19 pandemic had an adverse effect on the calcined bauxite market growth due to the implementation of lockdowns across the world. This factor caused a major slowdown in the operations of several key industries, such as cement, which further declined the product’s demand.
Fortune Business Insights™ displays this information in a report titled, "Calcined Bauxite Market, 2024-2032."
Segmentation:
Increasing Demand for Industrial Furnaces Boosted Use of Refractory Grade Calcined Bauxite
Based on grade, the market is segmented into refractory grade, abrasive grade, and others. The refractory grade segment held the largest market share in 2023 as the demand for industrial furnaces is rising in industries, such as glassmaking and cement. Refractory grade calcined bauxite is widely used to line these furnaces to make them resistant to high temperatures used in the production processes of these sectors.
Need for Materials With Unique Properties Fueled Product Use in Refractory Applications
Based on application, the market is classified into refractory materials, cement, abrasives, pavement & flooring, and others. The refractory materials segment held the biggest calcined bauxite market share in 2023 as refractory applications need materials that have unique properties, such as hardness, high density, and great resistance to thermal shock. This form of bauxite has these qualities, which is why it is being extensively used in refractory applications.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, grades, and top market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Rising Production of Wave Green Steel to Augment Market Growth
Wave green steel, also known as sustainable steel, uses various steel production methods to decrease the carbon footprint of the steel sector. Steel manufacturing companies are looking for various ways to decrease their emissions, which is expected to increase the use of refractory materials that can endure extreme temperatures while decreasing emissions and energy consumption. This factor will boost the adoption of calcined bauxite as this mineral is a crucial ingredient in the production of refractories that are used in the steelmaking furnaces.
However, the demand for this mineral can reduce due to the rising presence of alternative materials.
Source- https://www.fortunebusinessinsights.com/calcined-bauxite-market-106751
Regional Insights:
Well-Established Steelmaking Infrastructure Helps Asia Pacific Dominate Global Market
Asia Pacific has held a dominant position in the global calcined bauxite market as the demand for this mineral is high in countries, such as Japan, India, and China. These countries have a well-established steelmaking infrastructure, which will fuel the use of this material.