With demand for bauxite set to grow, global reliance on imports from Guinea could cause supply chain risks due to fluctuations in the country’s output. Smruthi Nadig from MINE reports.
Global bauxite production is expanding for several reasons including the growing demand for aluminium products. Aluminium, a highly versatile and low-density material, is used in sectors such as automotive, aerospace, construction, packaging and consumer products. Due to the ongoing growth of these sectors, an increase in demand for aluminium and its primary raw material, bauxite, is anticipated.
Global demand for bauxite is projected to rise by 2.2% to 444.8 million tonnes (mt) in 2024, primarily driven by the expected increase in aluminium demand in China, fuelled by growth in the automotive and manufacturing industries.
According to Al Circle, in 2022, global aluminium usage, including primary and recycled metal, saw an approximate 1.9% increase, reaching 95.3mt.
Guinea, Australia, China, Brazil and India were the world’s top five producers of bauxite in 2023, accounting for 87.4%, or 361.9 million tons, of the global total.