A recent report published by Infinium Global Research on mining chemicals market provides in-depth analysis of segments and sub-segments in global as well as regional mining chemicals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mining chemicals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global mining chemicals market. According to the report, the global mining chemicals market is projected to grow at a CAGR of 4.55% over the forecast period of 2018-2024.
Mining chemicals are the chemicals used for the processing of minerals or metal ores extracted from the natural deposits by mining. The mining industry requires high amounts of chemicals to extract and process resources, including a variety of concentration and refining processes. Mining chemicals are used in various mining phases such as ore extraction, benefaction, and tailings disposal. The most common chemicals used in the mining industry are cyanides, heavy metals, sulfuric and nitric acids. The mining chemicals available are divided into several categories such as sulphide collectors, collectors for oxides and non-metallic minerals, frothers, modifiers, flocculants, dewatering aids, and solvent extraction and ion exchange reagents.
The demand for metals for the production of goods that modern society needs have increased drastically over the past few decades. Thereby, increasing the extraction to meet those demands. Additionally, the rising infrastructural development also creates demand for metals that in turn boosts the mining chemicals market. In addition, diminishing ore grades of mines worldwide has increased the production of mining and mineral industries resulting in the growth of the mining chemicals market. Modern mineral exploration is driven largely by technology. The technological advancements in the mining industry have increased the production of minerals manifold. Analyzing only copper mines, the average ore grade has decreased approximately by 25% in the last ten years, but the total production has increased by 30% in the same period.
Growing environmental concerns increases pressure on mining industries to treat wastewater released from the industries. The mining and mineral processing industry is highly dependent on water for all aspects of their operations. The wastewater treatment utilizes mining chemicals, thus driving the mining chemicals market. The increased enforcement of regulations and maintaining legislation to protect the environment and health restrain the growth of the mining chemicals market. Chemicals used in mining and processing minerals contaminate the land, water, and air, causing health problems for workers and people living near mines. However, the emergence of eco-friendly mining processes that eliminate the use of toxic mining chemicals also act as a challenge for the growth of the mining chemicals market. Moreover, the expansion of mining to more regions such as Africa and South America provides opportunities for the growth of the mining chemicals market.
Among the geographies, Asia Pacific dominates the mining chemicals market and is expected to remain dominant over the forecast period. Russia, Australia, China, and India are among the leading countries in the mining sector that promote the growth of mining chemicals in the Asia- Pacific region. North America is also a dominant region owing to the well-established mining sector in countries such as the U.S. and Canada. Europe is the fastest growing region in the mining chemicals market owing to the presence of global mining houses such as Rio Tinto Group, BHP Billiton, and Anglo American PLC. Rest of the world regions such as Africa and South America has huge reserves of gold, cobalt and other industrial metals. Thus, the rest of the world regions are expected to grow at a significant rate in the mining chemicals market.
The report on global mining chemicals market covers segments such as application and type. On the basis of application, the global mining chemicals market is categorized into mineral processing, explosives & drilling, water & wastewater treatment, and others. On the basis of type, the global mining chemicals market is categorized into grinding aids, flocculants, frothers, collectors, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the mining chemicals market. As a result, the APAC region is projected to experience growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global mining chemicals market such as BASF SE, Akzo Nobel N.V., The Dow Chemical Company, Chevron Phillips Chemical Company, LP, Clariant, Solvay, Exxon Mobil Corporation, AECI Limited, Evonik Industries, and Kemira.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global mining chemicals market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of mining chemicals market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the mining chemicals market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the mining chemicals market to understand the present and future trends in this market and formulate their strategies accordingly.
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