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Thursday, 18 April 2024
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Mining Chemicals Market is expected to reach US$ 15.22 billion by 2030

The Global Mining Chemicals Market size is projected to grow at a CAGR of 4.6% during 2022-2030, to surpass USD 15.22 billion by 2030, from US$ 10.60 billion in 2022.

By The Insight Partners

Increasing Investments and Operations in the Global Mining Sector to Bolster Mining Chemicals Market Growth

According to our latest study on “Mining Chemicals Market Size and Forecast (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type, Mineral Type, and Application,” the market size is expected to grow from US$ 10.60 billion in 2022 to US$ 15.22 billion by 2030; it is estimated to register a CAGR of 4.6% from 2022 to 2030. The report highlights key factors driving the mining chemicals market growth and prominent players along with their developments in the market.

The global mining chemicals market is highly competitive. The mining chemicals are highly used in the mining industry for mineral processing, water treatment, and other applications. There are various players in the market with well-established geographical presences, which helps them meet customer demand across different regions. Further, mining chemicals manufacturers offer fully customizable solutions to their customers. They create customized solutions tailored to unique mining needs. For instance, players such as Nouryon and CLARIANT collaborate with their customers to customize solutions that fit each individual need. The collaborative approach of manufacturers to offer products to meet customer specifications promotes significant customer loyalty and creates higher switching costs for customers, thus creating entry barriers for new players. Various benefits of mining chemicals, the strong growth of the mining industry, and the increase in demand for different metals and minerals drive the growth of the mining chemicals market.

Mining Chemicals Market Breakdown – by Region

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00004511

The Middle East & Africa and Asia Pacific are witnessing an increase in mining activities due to the discovery of new mineral deposits, growing infrastructure developments, and increasing demand for minerals and resources. According to the Mineral Council of South Africa, South Africa's mineral production achieved a fresh record high of US$ 72.1 billion in 2022, up from US$ 67.2 billion in 2021. The adoption of advanced mining technologies, such as automation and digitization, improves efficiency and environmental sustainability in mining operations globally. According to the World Bank, production of graphite, lithium, and cobalt is expected to rise by ~500% by 2050 to meet the growing demand for clean energy technologies. In November 2023, Exxon Mobil Corporation announced the commencement of its first phase of lithium production in the Arkansas lithium deposits in North America. In November 2023, Atlantic Lithium Limited reported progress in the development of the Ewoyaa Lithium Project, West Africa. Governments and organizations in countries such as Australia, China, the Czech Republic, Portugal, the US, Canada, and others are actively promoting exploration and mining activities. The expansion activities and rising investments in the mining sector drive the growth of the mining chemicals market.

Orica Ltd, Kemira Oyj, BASF SE, Clariant AG, Dow Inc, AECI Ltd, Nouryon Chemicals Holding BV, Betachem Pty Ltd, Solvay SA, and Arkema SA are among the players operating in the global mining chemicals market. Players operating in the global market focus on providing high-quality products to fulfill customer demand. Also, they focus on adopting various strategies such as new product launches, capacity expansion, partnerships, and collaborations to stay competitive in the market. For instance, in October 2023, BASF SE mining solutions launched two new product brands—Luprofroth and Luproset—to complement its growing flotation portfolio. Luprofroth is for growing frothers, whereas Luproset is for flotation modifiers. These brands aim to communicate the company's flotation portfolio clearly and consistently, demonstrating its commitment to innovation and becoming a full solution provider for the mining industry. Also, in December 2021, Solvay expanded its Mount Pleasant facility in Tennessee due to increasing demand for its ACORGA and ACORGA OPT copper solvent extraction products. The copper market is expected to grow, particularly in construction, infrastructure, manufacturing, and automotive applications. In December 2021, Solvay launched an exclusive digital knowledge hub, the Mining Chemicals Handbook, which provides 24/7 access to relevant mining chemical application information.

Impact of COVID-19 Pandemic on Mining Chemicals Market

The COVID-19 pandemic has adversely affected the status of the chemicals & materials sector and hindered the mining chemicals market growth. The implementation of measures to combat the spread of the novel coronavirus has aggravated the situation and restrained the growth of various industries. Many industries have been adversely affected by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries.

In 2021, various industries resumed their business activities. The resumption of business activities in various industries boosted the demand for metals and minerals. Also, increasing activities in mining industries positively impacted the growth of the global mining chemicals market.

The report includes the segmentation of the mining chemicals market as follows:

The global mining chemicals market is segmented on the basis of type, mineral type, application, and geography. Based on type, the market is segmented into flotation chemicals, solvent extractants, grinding aids, and others. The market for the flotation chemicals segment is further segmented into frothers, flocculants, depressants, collectors, and others. By mineral type, the global market is segmented into base metals, non-metallic minerals, precious metals, and others. By application, the market is segmented into mineral processing, wastewater treatment, and others. By geography, the mining chemicals market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The mining chemicals market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.


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