Rising demand for high purity metals and minerals, rapid industrialization and surging use of specialty chemicals in mining processes to drive global mining chemicals market through 2024
According to TechSci Research report, “Global Mining Chemicals Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024”, the global mining chemicals market is expected to grow at a CAGR of around to 5% during the forecast period on account of its increasing demand in the mining industry. Mining chemicals fall in the category of specialized chemicals which increase the effectiveness and potency of mining process. Moreover, surging demand for base and precious metals from various verticals is increasing mining activities, globally, which in turn, is increasing demand for mining chemicals. However, stringent government policies for environment protection are likely to hamper the growth of the market during forecast period.
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Global mining chemicals market is segmented based on type, application, region and company. Based on type, the market can be segmented into grinding aids, frothers, flocculants, solvent extractants and collectors and others. Of all, grinding aid accounts for the largest segment followed by flocculants. The grinding aid segment is likely to witness the highest growth during forecast period as well owing to its extensive usage for limestone grinding in cement production. Asia-Pacific accounted for the largest share in global mining chemicals market and is likely to witness significant growth in the upcoming years as well on account of government focus on mineral and metal extraction and increasing investment in economies such as China, Australia, etc., propelling the growth for mining chemicals market over the forecast period
Ashland Inc., DowDuPont Inc., Chevron Phillips Chemical Company LP, BASF SE, ExxonMobil Corporation, Cytec Industries Inc., Nalco Company, Air Products and Chemicals, Inc., Cheminova A/S, AkzoNobel N.V. and others are some of the major players operating in global mining chemicals market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Based on application, the market can be categorized into mineral processing, explosives & drilling, water & wastewater treatment and others. Depleting mineral reserves has led to deep surface mining, thereby increasing the demand for mining chemicals mineral processing. Explosive & drilling application segment is the dominant and fastest growing segment. Additionally, demand for mining chemical is anticipated to increase for water & wastewater treatment as mining industries release a large amount of pollutants into waterbodies, thereby increasing wastewater treatment activities.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Mining Chemicals Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global mining chemicals market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global mining chemicals market.
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