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Mining is
considered to be one of the basic activities for human advancement. The
supply of metal and mineral products has supported human endeavor over epochs
and will remain to play its role in meeting society’s needs. Earlier, the
mineral industry operated partially at the global level only, as they served
the global commodity markets. However, globalization opened up new avenues to
private investment in mining sector by many countries which were earlier quite
deterring. Mining industry could have a substantial impact on the local
economic development of the mining area as well as the neighboring countries in
the next twenty five years.
Mining chemicals play a vital role in many of
the applications like mineral processing, explosives & drilling, water
& waste water treatment and more to ensure that the productivity and
efficiency of mining process such as recovery and extraction of minerals and
target materials from ore is enhanced. Owing to their significant applications
in diverse end used industries, mining chemicals market is set to grow at a
considerable pace in the coming years, with explosives & drilling being the
prevalent market for mining chemicals globally. The impetus for the segment is
provided primarily by the coal industry, which is at present the biggest user
of explosives. For
the period between2015 and 2020, mining chemicals market is estimated to grow
at a compounded annual growth rate (CAGR) of 6.72% to reach $30.41 billion by
2020.
This market has been segmented by types of
products, chemical used, application sectors and geography. The mining
chemicals encompass a variety of products which include flotation collectors,
flocculants, solvent extractants, frothers, scale inhibitors, crystal growth
modifiers, defoamers and more. The various chemicals used in the process are
cyanide, sulfuric acid, ammonium nitrate, fuel oil, acetylene and more. Some of the Key players of this
market are BASF SE (Germany), The Dow Chemical Company (U.S.), Ashland Inc
(U.S.) and Clariant AG (Europe).
Considerable demand and R&D investments for mineral resources from developing countries especially Asia Pacific and America are the main driving factors for this market
Owing to the demand for mineral resources from developing countries to fuel their rapidly growing economies, mining chemicals market is estimated to experience considerable growth down the years. It is very likely that the significance of mining chemicals in the value chain will grow in the coming years, because industry is aspiring to have efficient production even from the lower grade ores.
Asia
Pacific (APAC) is the leading producer of mining chemicals and has the highest
market share in the global mining chemicals production owing to the presence of
large number of coal mines. In the APAC, China is the major country in terms of
top mining chemical manufacturers and suppliers. It is followed by Americas,
holding a considerable share of 22% in the global mining chemicals market.
Related Report:
- Mining Chemicals: By Product Type (Flotation collectors, Frothers,
Scale inhibitors, Solvent extractants, Flocculants, Others); Application Type
(Mineral Processing, Explosives and Drilling, Water and Waste water Treatment,
Others) - Forecast (2015 – 2020) https://www.industryarc.com/Report/234/global-mining-chemicals-market-research-report.html