- Global bauxite reserves have grown slowly over the past decade and are concentrated in a few regions like Africa, Oceania, and Latin America. - Alumina markets in North America and Europe have been relatively stable or in deficit as consumption declined or capacity was lost. Emerging markets like Asia have seen strong growth in alumina capacity, production, and consumption. - Oceania and Latin America are traditional alumina exporters due to large bauxite reserves and refining capacity, while emerging Asia is a major importer due to strong consumption growth and limited investments.