Mining Chemicals Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia-Pacific|
|CAGR:||> 4 %|
*Disclaimer: Major Players sorted in no particular order
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Mining Chemicals Market Analysis
The global mining chemicals market is expected to record a CAGR of around 4% during the forecast period 2022-2027. Growing usage of mining chemicals in mineral processing and wastewater treatment is expected to boost the market's growth.
· The key driving factors responsible for the growing demand for mining chemicals include increasing mining activities in Asia-Pacific and North America and the increasing demand for specialty chemicals in mining processes.
· Stringent environmental regulations are the key restraints that may slow down the market's growth.
· Increasing investments and new mining projects in Africa are likely to create opportunities for the market over the coming years.
· The Asia-Pacific region is expected to dominate the market, and it is anticipated to witness the highest CAGR during the forecast period.
Mining Chemicals Industry Segments
Mining chemicals are used to increase the productivity and efficiency of mining processes such as extraction and recovery of minerals from ores. A wide variety of general and specialty chemicals are utilized for mining. Some of them are cyanide, sulfuric acid, and solvents for separating minerals from ore. The mining chemicals market is segmented by function (flotation chemicals, extraction chemicals, and grinding aids), application (mineral processing and wastewater treatment), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report also covers the size and forecasts for the mining chemicals market in 20 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).
Mining Chemicals Market Trends
This section covers the major market trends shaping the Mining Chemicals Market according to our research experts:
Increasing Use of Mining Chemicals in Mineral Processing
· Mining chemicals aid the mining and mineral processing industries attain maximum efficiency through improved selectivity and higher recovery while providing environmental benefits.
· A large number of reagents, usually referred to as modifying agents, are used in the flotation of sulfide ores. This is especially true in the case of complex ores, where two or more valuable minerals have to be separated from each other.
· Sulfuric acid is a chemical used in copper mining. It is also a byproduct of many kinds of mining. It is mixed with water and heavy metals to form acid mine drainage.
· Canada's mining industry is the leading global potash producer, and it is ranked among the top five producers of aluminum, diamonds, gemstones, gold, indium, niobium, platinum group metals, titanium concentrate, and uranium.
· In line with the growing mining and processing activities worldwide, the consumption of mining chemicals has also been increasing.
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Asia-Pacific to Dominate the Market during the Forecast Period
· Countries have been significantly investing in the mining sector in Asia-Pacific, majorly focusing on minerals, such as lithium, cobalt, and nickel, which are widely used in battery technologies. These nations are expected to dominate the market in the future, as the world is moving toward more clean-tech economies, with batteries being one of the major markets.
· The launch of the National Mineral Policy 2019 and the Mines and Minerals (Development and Regulation) Amendment Act, 2021, created an opportunity for investors looking to invest in the metal industry in India.
· According to the Ministry of Commerce and Industry, India achieved an FDI equity inflow of USD 4,747.24 million in metallurgical industries and mining from April 2014 to March 2019.
· The board of directors of state-owned CIL approved 32 coal-mining projects in the financial year 2021, indicating an incremental capital investment of around INR 47,300 crore.
· Mining production in China increased by 7.3% in December 2021 over the same month in 2020.
· The increasing infrastructural development and ease in government policies and regulations in India and China are likely to increase the demand for specialty chemicals in mining activities in this region.
· The demand for mining chemicals is expected to further rise with rapid industrialization and growing expenditure on infrastructure projects in railways, roads, and highways.
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Mining Chemicals Market Competitor Analysis
The mining chemicals market is partially consolidated in nature, with the top five players accounting for about 40% of the market share. Key players in the mining chemicals market include BASF SE, Solvay, Chevron Phillips Chemicals Pvt. Ltd, Clariant AG, and AECI.
Mining Chemicals Market Top Players
Chevron Phillips Chemicals
*Disclaimer: Major Players sorted in no particular order
Mining Chemicals Market Recent Developments
· In December 2021, BASF increased the prices of its mining chemicals globally, such as Alclar, Magnafloc, Rheomax, LIX, Lupromin, Alamine, and Aliquat grades.
· In May 2021, BASF Mining Solutions became a member of the CRM Group Research and Development Organization.
Mining Chemicals Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Mining Activities in Asia-Pacific and North America
4.1.2 Increasing Demand for Specialty Chemicals in Mining Processes
4.2.1 Stringent Environmental Regulations
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Flotation Chemicals
5.1.2 Extraction Chemicals
5.1.3 Grinding Aids
5.2.1 Mineral Processing
5.2.2 Wastewater Treatment
188.8.131.52 South Korea
184.108.40.206 Australia & New Zealand
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 Rest of Europe
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.4 BASF SE
6.4.5 Betachem (Pty) Ltd
6.4.6 Chevron Phillips Chemicals Co. Ltd
6.4.7 Clariant AG
6.4.8 CP Kelco US Inc.
6.4.9 CTC Mining (Tennant Chemicals Company Limited)
6.4.11 FMC Corporation
6.4.12 Huntsman International LLC
6.4.15 Orica Limited
6.4.16 Qingdao Ruchang Mining Industry Co. Ltd
6.4.21 The Chemours Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Investments and New Mining Projects in Africa
Mining Chemicals Market Research FAQs
What is the study period of this market?
The Mining Chemicals Market is studied from 2018 - 2028.
What is the growth rate of Mining Chemicals Market?
The Mining Chemicals Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Mining Chemicals Market?
Asia-Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Mining Chemicals Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Mining Chemicals Market?
BASF SE, Clariant AG, Solvay, Chevron Phillips Chemicals, AECI are the major companies operating in Mining Chemicals Market.
Mining Chemicals Industry Reports
In-depth industry statistics and market share insights of the Mining Chemicals sector for 2020, 2021, and 2022. The Mining Chemicals research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Mining Chemicals report PDF.