29 November 2019
The Mining Chemicals Market Report 2020-2030: Forecasts by Product (Grinding Aids, Frothers, Flocculants, Collectors), By Application (Mineral Processing, Explosives & Drilling), and analysis of leading companies operating in this industry.
The global market size of mining chemicals is estimated to exceed USD 30.4 billion by 2020 and is expected to grow over the forecast period at a CAGR of more than 6.8 percent. The global market for mining chemicals is driven primarily by rising investment in Asia Pacific mining projects. This development can be attributed to the high demand for industrialization and construction of infrastructure for mining chemicals. The diminishing concentration of minerals in the upper layers contributes to the discovery of deeper lying deposits with significant complexities, hence increasing demand for grinding aids and other mining chemicals.
Growing demand for minerals, increased focus on water & wastewater treatment, and increased mining activities are among the main trends that drive growth in the sector. Over the coming years, rising demand for gold, copper, and platinum from different applications is expected to fuel demand for products.
Because of low quality ore bodies, the mining industry has faced many difficulties. Increased gold demand has led to an increase in mining activity resulting in an increased demand for mining chemicals. For instance, some players use cyanide to remove gold from its ore. Thus, the global mining chemicals market is expected to witness tremendous growth during the forecast period.
The global market was dominated by grinding aids and this trend is expected to continue over the forecast period. An important factor that will complement the segment's growth is potentially growing importance on recovery of high quality minerals. Ore grinding and grinding are important for the recovery of valuable minerals and is therefore enabling the rapid growth of this market segment.
Asia Pacific was the largest mining chemicals market with a global market share of over 40.0 percent in 2019. Mineral processing and sectors of explosives & drilling drive the regional market. In addition, emerging economies like China and India are expected over the forecast period to fuel demand for mining chemicals. China is one of the world's leading oil, gold and rare earth metals producers. China has more than 10,000 mines, providing a large share of the global supply. It is also the biggest consumer of mining chemicals used for mineral extraction. It is anticipated that these variables will have a positive impact on market growth.
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