New alumina projects and expansions in 2023 to reshape the global aluminium landscape
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Update time : 2023-10-20 16:57:00
Aluminium oxide, popularly known as alumina, is a direct resource of primary aluminium production. With the passage of time, as aluminium demand is rising, a timely need for alumina is being increasingly felt. The potentiality of the alumina market is mammoth, with an estimated growth rate of CAGR 5.89 per cent. Many market studies show that the alumina market size will most likely grow from US$48.22 billion in 2022 to US$72 billion in 2030. To tap this market, many new projects and expansions are underway. This article will explore some of them that started this year.
ran-China ties to start off alumina production: At the beginning of 2023, a report came from an official that Iran began the research to discover the possibility of producing 500,000 tonnes of alumina annually from low-grade bauxite with Chinese assistance. The initial phase of studies was completed, and they started conducting the second phase of the research work. The objective is to become self-sufficient and reduce dependence on other countries for alumina sourcing. Iran currently secures about 80 per cent of alumina needed in their smelters, which cost them $1 billion a year.
