The Mining Chemicals by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Mining Chemicals, 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.
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.
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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
Innovative mineral extraction technologies have emerged as the key trend gaining popularity in the mining chemicals market. Major companies operating in the mining chemicals market are developing innovative technologies such as electrification technologies to strengthen their position in the market. For instance, in September 2021, ABB Ltd., a Switzerland-based electrification and automation company, launched ABB Ability eMine. ABB Ability eMine’s unique feature makes all-electric mining possible with completely integrated digital and electrification systems from the mine to the port and has a fully automated charging system for haul trucks. The different digital and electrical technologies are contributing to the mining industry’s transformation to a low-carbon economy.
The mining chemicals market report table of contents includes:
1. Executive Summary
2. Mining Chemicals Market Characteristics
3. Mining Chemicals Market Trends And Strategies
4. Mining Chemicals Market – Macro Economic Scenario
5. Global Mining Chemicals Market Size and Growth
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26. South America Mining Chemicals Market
27. Brazil Mining Chemicals Market
28. Middle East Mining Chemicals Market
29. Africa Mining Chemicals Market
30. Mining Chemicals Market Competitive Landscape And Company Profiles
Top Major Players:
- BASF SE
- AECI Mining Chemicals
- Sasol
- Solvay Group
- Clariant AG
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