Overview and Scope
Mining chemicals refer to chemicals that are involved in separating minerals from their ore, such as cyanide, solvents, and sulfuric acid. Mining chemicals are crucial for the efficient recovery of ores from natural deposits. These substances are used to increase the metals and minerals purity.
Sizing and Forecast
The mining chemicals market size has grown strongly in recent years. It will grow from $15.79 billion in 2023 to $16.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increasing industrialization, rise in mining activities and rise in coal production and consumption.
The mining chemicals market size is expected to see strong growth in the next few years. It will grow to $21.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing government support, rapid urbanization and growing petroleum industry. Major trends in the forecast period include artificial intelligence (ai) to analyze mineralogical data, new mineral processing flotation technologies to separate and concentrate ores, focus on industrial internet of things (iiot) for remote monitoring, digital mining solutions to control chemical waste, increasing investments in mineral activities and strategic partnerships and collaborations among market players.
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Segmentation & Regional Insights
The mining chemicals market covered in this report is segmented –
1) By Product Type: Frothers, Flocculants, Collectors, Solvent Extractants, Grinding Aids, Other Product Types
2) By Material Type: Base Metals, Non-Metallic Minerals, Precious Metals, Rare Earth Metals
3) By Application: Mineral Processing, Explosives And Drilling, Water And Wastewater Treatment, Other Applications
Asia-Pacific was the largest region in the mining chemical market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the mining chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing mining activities are expected to boost the mining chemicals market. Mining activity refers to extracting metallic and non-metallic minerals or industrial rock deposits from the earth. The nature of mining decides the use of various chemical contaminants, such as mercury, cyanide, and arsenic, utilized at different operation phases. It is used to separate minerals from their ore and boost metals’ purity and minerals’ purity. For instance, according to the U.S. Geological Survey, a US-based Government Agency, U.S. mines have produced approximately $90.4 billion in mineral commodities in 2021, a $9.7 billion increase over the 2020 total of $80.7 billion. Therefore, increasing mining activities are driving the growth of the mining chemicals market.
Key Industry Players
Major companies operating in the mining chemicals market report are BASF SE, AECI Mining Chemicals, Sasol, Solvay Group, Clariant AG,SNF Floerger, Arkema, Orica Limited, Ecolab Inc, Chevron Phillips Chemicals Co. Ltd, Tata Chemicals Limited, Hindustan Chemicals and Polymers, PT Nusa Halmahera Minerals, AVANSCHEM, PT. Chemco Harapan Nusantara, Chemicals and Machinery Co Ltd (CMC), Yantai Humon Chemical Auxiliary Co., Ltd, Kemira, LUKOIL, Sibplaz, Rompetrol, CHIMCOMPLEX SA BORZESTI, LINDE GAZ ROMANIA SRL, Newmont Corporation, Freeport-McMoRan Inc, Catalog. Economy Polymers and Chemicals, Noah Chemicals, TRInternational, Inc, Applied Material Solutions, Palm Commodities International, Inc, Quadra Chemicals, FloChem Ltd, Clariant, Chemours, Cytec Solvay Group, Quimica Del Sur S.A, Dow Chemical Company, Ashland, Tahoun Group, Chemie-Tech, Saudi Arabian Mining Company, Qatar Mining Company (QMC), Netafim, AECI Mining Chemicals, Betachem (Pty) Ltd, Senmin
The mining chemicals market report table of contents includes:
- Executive Summary
- Mining Chemicals Market Characteristics
- Mining Chemicals Market Trends And Strategies
- Mining Chemicals Market – Macro Economic Scenario
- Global Mining Chemicals Market Size and Growth
- Mining Chemicals Market Segmentation
- Mining Chemicals Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Mining Chemicals Market
- Mining Chemicals Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Mining Chemicals Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Mining Chemicals Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Mining Chemicals Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: BASF SE Financial Performance
Table 75: AECI Mining Chemicals Financial Performance
Table 76: Sasol Financial Performance
Table 77: Solvay Group Financial Performance
Table 78: Clariant AG Financial Performance
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