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  • Mining Chemicals Market Report | 2023-28

    Mining Chemicals Market Report | 2023-28

    Mining Chemicals Market Report | 2023-28
    Report code - SRAM166 Delivery - 2 Weeks
    Mining Chemicals Market Share, Trend, Forecast, & Competitive Analysis: 2023-2028
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    Market Insights

    The global mining chemicals market is estimated to grow from USD 10.95 billion in 2022 to USD 16.07 billion by 2028 at a CAGR of 6.5% during the forecast period.

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    What are mining chemicals?

    Mining chemicals are specialized chemical compounds and reagents used in various stages of the mining process to extract minerals and metals from ores. These chemicals play a crucial role in enhancing the efficiency and effectiveness of mining operations. Mining chemicals are typically used in both underground and surface mining activities.

    Global Mining Chemicals Market Overview

    Market Size in 2028

    USD 16.07 billion

    Market Size in 2022

    USD 10.95 billion

    Market Growth (2023-2028)

    6.5 % CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    There has been a growing interest in the chemical industry in the mining sector. Rising global populations, increasing per capita income, and increasing disposable income are positively influencing the demand for consumer goods as well as transportation, energy, construction, and infrastructure activities across regions. This, in turn, is impacting the overall demand for mining materials for making final products; hence, the demand for chemicals for the mining sector. This represents an attractive growth opportunity in the entire ecosystem of the market.

    Apart from organic growth in the mining sector. Some key drivers propelling the growth of the mining chemicals market are:

    • Extensive usage of mining chemicals for better yield.
    • Requirement of a greater amount of chemicals for processing lower-grade ores.
    • Investment in new product developments in the mining industry because of stringent regulations from regulatory bodies like EPA and REACH.

    Regulatory bodies, such as EPA and REACH, have imposed several regulations to protect the interest of workers and the nearby environment from the usage of mining chemicals. All these factors have led to an extensive investment in new product development and innovations in the mining industry.

    The indispensable focus area of the mining sector is to invest in the development of efficient technology and enhance the profitability of existing mines. The introduction of stringent government regulations regarding workers’ safety and health is also compelling the sector to invest heavily in technology to address the requirements of such regulations.

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    Segment Analysis

    Mining Chemicals Market: By Type

    The types as Frothers, Flocculants, Solvent Extractants, Collectors, Grinding Aids, and Others. Others include defoamers, corrosion inhibitors, antiscalants, dust suppressants, biocides, etc. The grinding aids segment is projected to remain the largest segment of the market during the forecast period.

    The segment is also likely to witness the highest growth during the same period, driven by its extensive usage for limestone grinding in cement production. China, India, and the USA are the major cement producers and so are the major grinding aids markets. Flocculants and collectors also hold considerable shares of the market and are expected to witness healthy growth rates during the same period.

    Mining Chemicals Market: By Mineral Type

    The market is segmented into Base Metals, Non-Metallic Minerals, Rare Earth Metals, and Precious Metals. The base metals segment is expected to witness the highest growth during the forecast period, owing to increasing industrial and infrastructural development activities in the regions, such as Asia-Pacific, Latin America, and Africa.

    Mining Chemicals Market: By Application Type

    The application type is Blasting and drilling, Mineral Processing, Water and Wastewater Treatment, and Others. Mineral processing shares more than 25% in 2022 The mining chemicals market segment is also likely to witness the highest growth during the same period, driven by the coal industry. Also, depleting mineral reserves has led to deep-surface mining, which, in turn, is driving the demand for mining chemicals in the blasting & drilling segment.

    Mining Chemicals Market: Regional Insights

    Asia Pacific shares more than 35% in 2022 the region is also likely to experience the highest growth during the same period. Rapid economic expansion along with growing industrial and infrastructural activities in the developing economies are driving the market in the Asia-Pacific region.

    China and India are likely to remain the growth engines of the region’s market during the forecast period. China is the largest producer of mining chemicals worldwide. Despite the depleting growth of the Chinese economy, China is likely to maintain its dominance in the global market; however, this trend is likely to adversely impact the overall growth of the mining chemicals market.

    Europe and North America are the other two major markets for mining chemicals. The USA is the largest market in North America, whereas both, Western and Eastern Europe, are the major markets with almost a similar demand for mining chemicals.

     

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    Segmentation

    The market is segmented in the following ways:

    Mining Chemical Market Share, Size & Forecast, by Type:

    • Frothers 
    • Flocculants 
    • Solvent Extractants 
    • Collectors 
    • Grinding Aids 
    • Others 

    Mining Chemical Market Share, Size & Forecast, by Mineral Type:

    • Base Metals 
    • Non-Metallic Minerals 
    • Precious Metals 
    • Rare Earth Metals 

    Mining Chemical Market Share, Size & Forecast, by Application Type:

    • Blasting & Drilling 
    • Mineral Processing 
    • Water & Wastewater Treatment 
    • Others 

    Mining Chemical Market Share, Size & Forecast, by Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Italy, Turkey, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Key Players

    The key players in the mining chemicals market are-

    The competition in the mining chemical market can be better understood by beholding two distinct segments. The first is, commoditized and highly price-sensitive chemicals and another is highly priced specialty chemicals. It is expected that the major global players will gradually move away from highly commoditized chemicals with the purpose of giving a high focus on the specialty chemicals segment. 

    The market is populated with both global as well as regional players. It is important to note that the growth strategies for global companies would be quite different from the regional players.

    For instance, the development of unrivaled technical service across regions, high R&D and innovation capabilities, and the formation of strategic alliances to quickly gain more share; whereas the development of cost-competitive chemicals, good regional/local reach, and the ability to gain access to technology at a reasonable cost are some of the strategies for regional players.  

    The supply chain of this market comprises raw material suppliers, mining chemical suppliers, and mining companies.

    It is also observed that distributors are gradually capturing more shares in the market due to decreasing commoditized chemical prices and their vast coverage in unpenetrated locations.  Merger & acquisition, new product development, and forming strategic alliances are the key strategies adopted by the major players to gain a competitive edge in the market.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most totally. The report structure has been kept such that it offers maximum business value. It provides critical insights into the mining chemicals market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How ample is the sales opportunity?

    In-depth Analysis of the Global Mining Chemicals Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and what is their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Regional Segmentation

    • Current market size (2017) of the market in any of the North American countries by type

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The mining chemicals market is likely to grow at a CAGR of 6.5 % during 2023-2028.

    Mining chemicals are specialized chemical compounds and reagents used in various stages of the mining process to extract minerals and metals from ores. These chemicals play a crucial role in enhancing the efficiency and effectiveness of mining operations. Mining chemicals are typically used in both underground and surface mining activities.

    The market was estimated at USD 10.95 Billion in 2021 and is likely to reach USD 16.07 Billion in 2028.

    BASF SE, Cytec Solvay Group, Clariant AG, Arkema, and Akzo Nobel N.V. are among the key players in the market.

    Asia-pacific is expected to remain the largest market during the forecast period of 2023 to 2028.

    Organic growth in the mining sector, an extensive usage of mining chemicals for better yield, and a greater amount of chemicals required for processing of lower-grade ores are the factors driving the growth of mining chemicals market.

    The grinding aids segment is expected to remain the largest segment in the market in the coming years.

    The base metals segment is expected to witness the highest growth in the market during the next five years.