According to ChemAnalyst report, “Global Mining chemicals Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Mining chemicals market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 5.85% during the forecast period. Mining Chemicals find application in mineral processing and treatment of wastewater generated during mining operations. Majority of the Mining Chemicals are manufactured by the raw materials such as cyanide, sulfuric acid, nitric acid, uranium, mercury, and lead which are quite toxic to humans as well as for the environment which might be a constraint for the market growth of Mining Chemicals in the forecasted period.
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Mining Chemicals helps to maximize the grade and recovery of minerals during processing. They are of various types depending upon the function they are used to carry out including flotation chemicals which further include collectors, depressants, flocculants, frothers, dispersants, extraction chemicals which include diluents and extractants, and grinding aids. Mining Chemicals usage in mineral processing accounted for the major share of the total Mining Chemicals volume consumed. Increasing need of specialty chemicals in mining operations coupled with the rising number of mining operations globally due to increasing demand of minerals and precious metals is expected to drive the demand of mining chemicals during the forecast period. Moreover, increasing mining operations in Africa, North America are expected to push the demand further during the forecast period. Stringent environmental regulations regarding mining chemicals are expected to hinder demand growth during the forecast period.
In 2020, the spread of COVID-19 in major global economies, implied mandated lockdowns by the government which had a direct impact on commodity market in the various ways. Mining was also among the affected industries in the pandemic crisis which leads to the decline in the demand for mining chemicals for the first half of 2020. However, one of the exceptions to this trend has been demand for Gold which typically benefits from higher level of uncertainty. Since the countries like China and U.S. have emerged from the crises of Covid 19, the increase in the demand for Mining Chemicals has been witnessed after the resumption of mining projects and manufacturing of mining and metals companies.
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Region wise, Asia pacific region holds the major share of global demand for mining chemicals due to increasing number of mining operations after Europe and the United States. Moreover, increasing demand of minerals and precious metals is also another factor influencing demand growth in Asia Pacific. Mineral rich regions such as South Africa and Peru are also expected to show a promising growth for the forecasted period. Additionally, increasing population and subsequent rise in per capita income and consumption of minerals in emerging economies like India and China is also another factor supporting demand rise in Asia Pacific.
According to ChemAnalyst report, Global Mining Chemicals Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030.
Key Players:
Major players for mining chemicals globally include 3M Company, Arkema S. A., Betachem (Pty) Ltd, Clariant AG, CTC Mining (Tennant Chemicals Company Limited), Solvay, FMC Corporation, Kemira, Orica Limited, Sasol, CP Kelco US Inc., The Chemours Company, BASF SE, Chevron Phillips Chemicals Co. Ltd. and Ecolab Inc.
“Being linked to the mineral processing and waste-water treatment, the global Mining Chemicals industry has shown a robust growth owing to the increasing mining projects coupled with the increasing demands for minerals. China and India are the leading producers of metals & minerals in the Asia Pacific region therefore the demand for Mining Chemicals used for extraction of minerals would consequently fuel the market for Mining Chemicals in the forecasted period. Additionally, Government regulations concerning the recycling of wastewater activities are expected to expand its market size across the globe. With new competitors emerging across the Asia Pacific Mining Chemicals market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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