Mining Chemicals Market Set to Witness an Uptick during 2019 to 2024



The global mining chemicals market size is projected to reach at $38.01 BILLION 38.01 billion by 2024, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.4% during the forecast period. Increasing mining activities in various regions are likely to drive the market over the forecast period.
Raw material supply is a crucial part of the mining industry. Raw materials used in the production of mining chemicals are hazardous and are, therefore, delivered in ISO standard containers only. This results in an increase in the raw material prices, which in turn is expected to affect final product price.
Increase in demand for minerals with high purity is poised to be one of the key factors augmenting the market. Degradation of the quality of ore has boosted the reliance on effective and efficient methods. Solvent extraction technology is one of the key technologies used for effective and efficient extraction.
The market is highly competitive with the presence of a large number of manufacturers operating at the global level through widespread distribution channel. Ashland Inc.; The Dow Chemical Company; Chevron Phillips Chemical Company LP; BASF SE; and ExxonMobil are the major players in the market.
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The mining industry has been facing many challenges due to low quality of ore bodies. Increasing demand for gold has led to rise in mining activities, which in turn is expected to drive demand for mining chemicals over the forecast period. For instance, majority players use cyanide for the extraction of gold from its ore.
Further Key Findings from the Report Suggest:
·         Frothers are estimated to register a CAGR of 6.0% from 2016 to 2024 owning to surging demand for better quality of minerals
·         Flocculants are expected to post a CAGR of 6.5% during the forecast period. Water recycled through flocculants reduces the operating and equipment maintenance cost, which in turn is estimated to fuel demand for flocculants over the same period.
·         The mineral processing application segment is projected to expand at a CAGR of 6.2% over the forecast period owning to increasing demand for minerals
·         Asia Pacific is likely to exhibit a CAGR of 7.2% during the same period due to growing mining activities in China
·         China dominated the Asia Pacific region with a share of 83.9% in the market in 2015. China is one of the largest producers of the coal, gold, and rare earth metals.
The mining industry expansion has been moving beyond Asia, to Nigeria, Panama and Oman. Investors are attracted to mining opportunities in underdeveloped countries. Countries such as Indonesia and Ukraine have begun their mining and smelting industries as a response to the Indonesian ban on shipping ore.
The market is highly competitive in nature and logistics are one of the key parameters contributing to the final product. Logistics account for approximately 20.0% of the overall cost or more than that, particularly for overseas shipments. Distributors have to compulsorily evaluate all the possible transportation ways in order to deliver the product in the same form that the consumer needs and to provide economy of scale.
Mining activities impure the air and water. Acid mine drainage is considered as the biggest threat to water sources. Mining with acid drainage can have a long-lasting negative impact on rivers and aquatic life.
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Grinding aids dominated the global market with a market share of over 46.0% in 2015. The trend is estimated to continue over the forecast period. Increasing focus on recovery of high quality minerals is likely to be an important factor supplementing the growth of the segment. Grinding and milling of ores are essential in recovering valuable minerals.
The collectors used as mining chemicals include xanthates, dithiophosphates, and thiocarbamates. Collectors help in the recovery of copper at low pH value. There are many collectors including copper, lead, soluble, and oily. These collectors are named based on their chemical structure and group. Xanthates are used to treat ores such as iron sulfides and penalty elements. Collectors accounted for a 17.3% of the overall market in 2015.
Grand View Research has segmented the global mining chemicals market report on the basis of product, application:
Mining Chemicals Product Outlook (Revenue, $38.01 BILLION Million, 2013 - 2024)
·         Frothers
·         Flocculants
·         Collectors
·         Solvent Extractants
·         Grinding Aids
·         Others
Mining Chemicals Application Outlook (Revenue, $38.01 BILLION Million, 2013 - 2024)
·         Mineral processing
·         Explosives & drilling
·         Water & wastewater treatment
·         Others
Flocculants consist of anionic, cationic, and nonionic polymers. It absorbs particles and destabilizes them by bridging or charge neutralization. Anionic flocculants react with the positively charged suspension that results in the production of salts and metallic hydroxides. Cationic flocculants react with negatively charged suspensions. Flocculants have major application in industries and municipalities involved in water treatment
Frothers were the first reagent used for mineral concentration. Frothers create perfect hydrodynamic conditions such as gas hold up and bubble size required in the flotation cell. Increasing importance of frothers in mineral flotation is poised to work in favor of the market.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.






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