Transparency Market Research, New York:
- In terms of value, the global mining chemicals marketwas stood around US$ 25 Bn in 2018 and is anticipated to expand at a CAGR of more than 4% from 2019 to 2027
- Mining chemicals used as grinding aids accounted for the largest share of the mining chemicals market in terms of volume with more than 0%share of total volume consumed in 2018. Mining chemicals used for collectors was the second largest product segment of mining chemicals followed by flocculants, frothers, solvent extractants and others.
- The mining chemicals industry exhibits a moderate degree of forward integration as few of mining chemicals producers are also engaged in downstream activities. This forward integration gives these participants a distinctive competitive advantage in terms of better customer retention and market demand
- Based on application, water & wastewater treatment was the major application of mining chemicals and accounted for more than 35% of the total mining chemicals market in2018.It is projected to exhibit significant growth rate during the forecast period 2019 to 2027
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- Based on region, Asia Pacific held major share in 2018 and is expected to grow at significant rate of around5% compared to other region between 2019 and 2027. Presence of large mining reserves especially in China compare to other countries across world is the major factor driving the demand for mining chemicals in Asia Pacific.
- The mining chemicals market in North America and Europe is expected to exhibit moderate growth rate during the forecast period
- Rise in industrialization and infrastructure development followed increasing complexity of ores and decreasing ore grades is the major factor that drives the market
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Growing Environmental Concerns and Complex Logistics Involved May Hamper Overall Demand of Mining Chemicals
- Various harmful chemicals are released in the environment after minerals have been extracted and processed. Large volumes of tailings are produced when minerals are extracted from mines. These are usually deposited in mined-out areas or man-made tailings ponds. Tailings management has become an essential activity considering the current global emphasis on environment protection
- Furthermore, transportation and logistics is one of the major price drivers of mining chemicals. It accounts for almost 20% of the total overall cost of mining chemicals. Often, mines and producers of mining chemicals are located continents apart. This is another factor that adds to the intricacy of transportation and logistics of mining chemicals. Hence, suppliers need to constantly evaluate all the logistic possibilities in order to provide the best economies of scale and deliver products on time and in exact quantity. This adds increasing pressure on manufacturers of mining chemicals to provide mining chemicals efficiently
- These are some of the major factors which may hamper the overall demand for mining chemicals
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Asia Pacific Expected to be Highly Lucrative Region of Global Mining Chemicals Market
- In terms of volume and value, Asia Pacific accounted for major share of more than 0%of the global mining chemicals market in 2018. It is likely to remain the dominant market during the forecast period 2019 to 2027. China is one of the leading producer of key minerals such as gold, coal and rare earth metals. China is major source of supply to majority of the minerals to the globe. Therefore, China accounts for majority of the mining chemicals consumption. Also, other countries such as India, Australia are also major mining reserved countries and are focusing on increasing the mining activities. These are some of the major factors which drives the demand for mining chemicals in Asia Pacific
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Global Mining Chemicals Market -Key Developments
- Companies are investing on R&D activities to provide less harmful mining chemicals. Clean Earth Technologies has successfully validated cost effective process to replace cyanide with safer, less hazardous chemical reagent thiosulphate. This inorganic compound helps dissolve fine gold out of ores into a solution, which can then be recovered through further processing. This new technology will be suitable for Greenfield mines locations where cyanide cannot be used or is banned. Also, it will be suitable for existing mines that are looking to upgrade and transition to new technology
Global Mining Chemicals Market: Competition Landscape
- The global mining chemicals market is highly fragmented with presence of large numbers of unorganized players especially in Asia Pacific. Companies are operating at global level through widespread distribution channel. Some of the major players include BASF SE, The Dow Chemical Company, Chevron Phillips Chemical Company LP, Ashland Inc. etc.
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Mining Chemicals Market: Product Type
- Solvent Extractants
- Grinding Aids
Mining Chemicals Market: Application
- Mineral Processing
- Explosives and Drilling
- Water and Wastewater Treatment
Mining Chemicals Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East
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