Mining Chemicals Market: Growing Demand for minerals and emphasis on waste & water treatment at Global Level
- Mining chemicals are an important aspect of mining industry and used in a broad range of applications. The commercial applications of mining chemicals include mineral processing, explosives and drilling water and wastewater treatment and others.
- Increase in demand for gold, copper and platinum from various applications is expected to propel the demand of mining activities which in turn projected to drive the demand for mining chemicals during forecast period 2019 to 2027
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- The demand for mining chemicals mainly stems from the decreasing ore grades across various mines globally. Decreasing ore grades have compelled the mining industries to further increase mineral processing activities in order to extract minerals economically
- Mining chemicals are majorly used in waste and water treatment. There has been an increase in demand for mining chemicals used for water treatment due to various laws passed by different countries to control the effect of mining on the environment
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Grinding Aids Continued To Be Dominant Product Segment
- On the basis of product type, the global mining chemicals market is bifurcated into frothers, flocculants, collectors, solvent extractants, grinding aids and others. Among them, grinding aids held the leading share of the market in 2018, expanding at a CAGR of more than 4% between 2019 and 2027. It is likely remain dominant product type during the forecast period. Rise in focus on recovery of high quality minerals is anticipated to key factor which makes the grinding aids dominant product segment. Furthermore, grinding aids are extensively used in limestone grinding for producing cement. Rise in construction activities where cement is used as key raw material propel the demand for grinding aids.
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Rising Demand for Mineral Processing, Explosives and Drilling, Water Treatment Application Makes Asia Pacific Leader
- In terms of geography, the Mining Chemicals market has been bifurcated into North America, Europe, Asia Pacific and Rest of World. Asia Pacific held the leading market share of more than 40% in 2018. It is likely to remain dominant region over the forecast period 2019 to 2027. Increasing usage of rigid and flexible packaging, plastic consumables for household use, are the key factors driving the Asia Pacific Mining Chemicals market
- Asia Pacific has emerged as the leading producer and consumer of mining chemicals due to the current economic condition in mature markets such as the U.S. and Western Europe and rapidly increasing domestic consumption. China is the world’s leading country in terms of mining reserves and also a global supplier of majority of the minerals. Furthermore, other Asia Pacific countries such as India, Australia and Indonesia also has proven mineral reserves for mining activities. Increasing mining activities in these regions has propel the demand for mining chemicals for mineral processing, explosives and drilling, water treatment applications.
- Also, the positive outlook of the economies in Asia Pacific region is attracting considerable investments from global mining companies.
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