Global Mining Waste Management Market Size To Grow At A CAGR Of 2.50% In The Forecast Period Of 2022-2027
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 2.50%
The global mining waste management market is expected to register growth during the forecast period on account of the strict rules and regulations implemented by various governments to optimally manage mining activities. With the increasing number of organisations emphasising efficient management of waste generated during mining processes, the market demand for mining waste management is expected to fuel over the coming years.
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The surging demand for metals and minerals in from various industries along with the increasing concerns related to the environment are likely to propel the mining waste management market growth across the globe. Rise in demand for coal from various economies is further supporting the market growth for mining waste management as coal mining produces a high volume of waste compared to other forms of mining.
Based on the mining type, the opencast mining segment is expected to witness substantial growth in the coming years as it is commonly utilised for the mining of metals and minerals from the earth's crust. Rapid industrialisation coupled with the growing mining industry is expected to push forward the market growth for mining waste management over the forecast period.
Mining Waste Management Industry Definition and Major Segments
Mining waste management refers to the processes and strategies implemented for optimised disposal of waste generated during mining operations. Mining waste incorporates materials like topsoil overburden and waste rock and tailings. Topsoil overburden is separated to achieve access to mineral resources and waste rock and tailings are generated after the extraction of desired mineral.
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Based on mining type, the market is segmented into:
• Opencast Mining
• Underground Mining
By mineral type, the market is classified into:
On the basis of waste type, the market is categorised into:
• Overburden and Waste Rock
• Mine Water
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Mining Waste Management Market Trends
With the growing demand for different minerals and metals and increasing mining activities, there is a rise in the demand for mining waste management techniques to reduce harmful effects on the environment. The surging adoption of electric vehicles is also expected to mark a key trend in the market. Metals like cobalt, lithium, and nickel obtained from mining are used in electric vehicle batteries, resulting in an increase in mining activities and mining waste generation.
Geographically, the Asia Pacific region is anticipated to drive the mining waste management market growth on account of the improving economic conditions coupled with a high number of mines. China is holding significant growth in the market of mining waste management due to the presence of various mines and increasing demand for minerals and metals from various end use industries in the country.
Meanwhile, Europe is expected to gain momentum in the mining waste management market growth on account of the implementation of strict regulations on mining by economies like Germany and the United Kingdom, among others. Such rules and regulations aim to ensure that mining waste is properly managed to prevent harm to the environment.
Key Market Players
The major players in the mining waste management market report are:
• Enviro-Serve Inc.
• Hatch Ltd.
• Golder Associates Inc.
• Cleanway Environmental Services
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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