Mining Chemicals Market Bag A Mark of USD 38.01 billion Globally With Key Players
MiningChemicals Market is expected to reach USD 38.01 billion by 2024. Mining chemicals play the main role in advancing the efficacy and productivity of mining processes like the extraction and recovery of minerals and target materials from ore. Mining industry all over the is opposing the dare of low productivity because of diminishing reserves of high quality ore grades, that has caused in manipulating credits that lie deeper in the earth’s crust. This procedure is obvious by composite extraction processes that require using unconventional mining chemicals for providing support in processing and extracting ores of low quality.
The
Mining Chemicals Market is estimated to grow at a significant CAGR of 6.4% over
the future period as the scope and its applications are rising enormously across
the globe. Growth in infrastructural development and industrialization, rising
demand for mining chemicals, strict government policy on wastewater pollution,
and high demand for quality minerals are documented as major factors of Mining
Chemicals Market that are estimated to enhance the growth in the years to come.
However, transportation and logistics costs of flotation chemicals and strict
government policy are the factors that may restrain overall market in the
coming years. Mining Chemicals Industry is segmented based on product type,
mineral type, application, and region.
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Grinding
aids, frothers, solvent extractants, flocculants, and collectors are the
product types that could be explored in Mining Chemicals in the forecast
period. Grinding aid sector accounted for the largest market share of Mining
Chemicals and is estimated to lead the overall market in coming years. This may
be because it is mainly used in cement production as limestone grinding. The
United States, China, and India are the major customers of grinding aids, as it
reduces energy costs related to the grinding process. There are various types
of minerals that could be explored in Mining Chemicals that include rare earth
metals, base metals, precious metals, and non-metallic minerals.
The
market may be categorized based on applications like water & wastewater
treatment, mineral processing, explosives & drilling, and others that could
be explored in the foremost period. The explosives & drilling sector
estimated to lead the market with largest market share in future. Also, the
sector is estimated to grow at highest CAGR in the upcoming years. This may be
because of high demand from coal industries. However, water & wastewater
treatment sector is estimated to grow at fastest pace in the coming years.
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Globally,
Asia Pacific accounted for the largest market share of Mining Chemicals and is
estimated to lead the overall market in the upcoming period. The reason behind
the overall market growth could be growing drilling, explosives sectors, mineral
processing, and high demand from developing countries like India and China.
China is known as a key producer for rare earth materials, coal, and gold.
Instead, Europe and North America are also estimated to have a positive
influence on the future growth. North America is the second largest region with
significant market share.
The
key players of Mining Chemicals Market are SNF Floerger, AkzoNobel N.V., ArrMaz
Products, L.P., BASF SE, Orica Limited, Clariant AG, Huntsman International
LLC, Cytec Industries Inc., The Dow Chemical Company, and Kemira OYJ. These
players are concentrating on inorganic growth to sustain themselves amongst
fierce competition. As such, mergers, acquisitions, and joint ventures are the
need of the hour.
Market
Segment:
Mining
Chemicals Product Outlook (Revenue, USD Million, 2013 - 2024)
• Frothers
• Flocculants
• Collectors
• Solvent Extractants
• Grinding Aids
• Others
Mining
Chemicals Application Outlook (Revenue, USD Million, 2013 - 2024)
• Mineral processing
• Explosives & drilling
• Water & wastewater treatment
• Others
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