Key Highlights:
·
In terms
of value, the global mining chemicals market was 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 29.0% 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 in 2018.It is projected to exhibit significant growth rate
during the forecast period 2019 to 2027
·
Based on
region, Asia Pacific held major share in 2018 and is expected
to grow at significant rate of around 5% 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
More Trending Reports
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 40.0% 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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