Mining Chemicals Market likely to grow at an impressive CAGR 4.7% by 2023, as estimated by Stratview Research
Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period of 2018 – 2023, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.
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There has been a growing interest in the chemical industry in the mining sector. Rising global populations, increasing per capita income, and increasing disposable income are positively influencing the demand for consumer goods as well as transportation, energy, and the construction and infrastructure activities across regions. This, in turn, is impacting the overall demand for mining materials for making final products; hence, the demand for chemicals for the mining sector.
Furthermore, regulatory bodies, such as EPA and REACH, has imposed several regulations to protect the interest of workers and the nearby environment from the usage of mining chemicals. All these factors have led to an extensive investment towards the new product development and innovations in the mining industry.
The indispensable focus area of the mining sector is to invest in the development of efficient technology and enhance the profitability of existing mines. The introduction of stringent government regulations regarding workers’ safety and health are also compelling the sector to invest heavily in the technology in order to address the requirements of such regulations.
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The mining chemicals market is segmented based on the type as Frothers, Flocculants, Solvent Extractants, Collectors, Grinding Aids, and Others. Others include defoamers, corrosion inhibitors, antiscalants, dust suppressants, biocides, etc. The grinding aids segment is projected to remain the largest segment of the market during the forecast period. The segment is also likely to witness the highest growth during the same period, driven by its extensive usage for limestone grinding in cement production. China, India, and the USA are the major cement producers and so are the major grinding aids markets. Flocculants and collectors also hold considerable shares of the market and are expected to witness healthy growth rates during the same period.
Based on the mineral type, the mining chemicals market is segmented as Base Metals, Non-Metallic Minerals, Rare Earth Metals, and Precious Metals. The base metals segment is expected to witness the highest growth during the forecast period, owing to increasing industrial and infrastructural development activities in the regions, such as Asia-Pacific, Latin America, and Africa.
The mining chemicals market is also segmented based on the application type as Blasting & Drilling, Mineral Processing, Water & Wastewater Treatment, and Others. The blasting & drilling segment is expected to remain the dominant segment of the mining chemicals market during the forecast period. The segment is also likely to witness the highest growth during the same period, driven by the coal industry. Also, depleting mineral reserves have led to deep-surface mining, which, in turn, is driving the demand for mining chemicals in the blasting & drilling segment.
Asia-pacific is expected to remain the largest mining chemicals market during the forecast period of 2018 to 2023. The region is also likely to experience the highest growth during the same period. Rapid economic expansion along with growing industrial and infrastructural activities in the developing economies are driving the market in the Asia-Pacific region.
China and India are likely to remain the growth engines of the region’s market during the forecast period. China is the largest producer of mining chemicals worldwide. Despite the depleting growth of Chinese economy, China is likely to maintain its dominance in the global market; however, this trend is likely to adversely impact on the overall growth of the mining chemicals market.
Europe and North America are the other two major markets for mining chemicals. The USA is the largest market in North America, whereas, both, Western and Eastern Europe, are the major markets with almost a similar demand for mining chemicals.
Check out the Table of Contents here:
Highlights of the Report:
The upward trajectory of the mining chemicals market is projected to continue with a healthy CAGR of 4.7% during the period of 2018 to 2023. This represents an attractive growth opportunity in the entire ecosystem of the market. Organic growth in the mining sector, an extensive usage of mining chemicals for better yield, and a greater amount of chemicals required for processing of lower-grade ores are some of the major factors that are proliferating the growth of the mining chemicals market.
The supply chain of this market comprises of raw material suppliers, mining chemical suppliers, and mining companies. The key players in the global mining chemicals market are BASF SE, Cytec Solvay Group, Clariant AG, Arkema, and Akzo Nobel N.V. It is also observed that distributors are gradually capturing more shares in the market due to decreasing commoditized chemical prices and their vast coverage in unpenetrated locations. Merger & acquisition, new product development, and forming strategic alliances are the key strategies adopted by the major players to gain a competitive edge in the market.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Mining Chemicals Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
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