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Mining Chemicals Global Market Report 2024 To 2033 | BASF SE, AECI Mining Chemicals, Sasol, Solvay Group, Clariant AG,SNF Floerger, Arkema, Orica Limited
Mining Chemicals Market Share
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According to The Business Research Company's, The mining chemicals market size has grown strongly in recent years. It will grow from $15.79 billion in 2023 to $16.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increasing industrialization, rise in mining activities and rise in coal production and consumption..
The mining chemicals market size is expected to see strong growth in the next few years. It will grow to $21.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing government support, rapid urbanization and growing petroleum industry. Major trends in the forecast period include artificial intelligence (ai) to analyze mineralogical data, new mineral processing flotation technologies to separate and concentrate ores, focus on industrial internet of things (iiot) for remote monitoring, digital mining solutions to control chemical waste, increasing investments in mineral activities and strategic partnerships and collaborations among market players..
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Market Drivers and Trends:
Increasing mining activities are expected to boost the mining chemicals market. Mining activity refers to extracting metallic and non-metallic minerals or industrial rock deposits from the earth. The nature of mining decides the use of various chemical contaminants, such as mercury, cyanide, and arsenic, utilized at different operation phases. It is used to separate minerals from their ore and boost metals' purity and minerals' purity. For instance, according to the U.S. Geological Survey, a US-based Government Agency, U.S. mines have produced approximately $90.4 billion in mineral commodities in 2021, a $9.7 billion increase over the 2020 total of $80.7 billion. Therefore, increasing mining activities are driving the growth of the mining chemicals market.
Innovative mineral extraction technologies have emerged as the key trend gaining popularity in the mining chemicals market. Major companies operating in the mining chemicals market are developing innovative technologies such as electrification technologies to strengthen their position in the market. For instance, in September 2021, ABB Ltd., a Switzerland-based electrification and automation company, launched ABB Ability eMine. ABB Ability eMine's unique feature makes all-electric mining possible with completely integrated digital and electrification systems from the mine to the port and has a fully automated charging system for haul trucks. The different digital and electrical technologies are contributing to the mining industry's transformation to a low-carbon economy.
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Major Key Players of the Market:
Everbridge Inc., BlackBerry Limited, Balckboard Inc., Alertus Technologies LLC, Singlewire Software LLC, Atlassian, SK Telecom, Foxconn Industrial Internet, Huanyu Group, J&R Technology Ltd, Netpresenter, Bosch Limited, Transputec Ltd, Alert Cascade Limited, CALLMY, HARMAN, Klipsch Group Inc, IBM, Rave Mobile Safety, American Signal Corporation (ASC), ATI Systems, Alertmedi, Crisisgo, Omnilert, Ruvna, Mircom, Omingo, Onsolve, Voyent Alert, Squadcast, Cosafe Technology, Athoc Inc, Cooper Industries, Regroup Mass Notification, Redflag, Wonderpush, KONEXUS, Crises Control.
Mining Chemicals Market 2024 Key Insights:
• The mining chemicals market size is expected to see strong growth in the next few years. It will grow to $21.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Mining Activities Propel Growth In Mining Chemicals Market
• Innovative Electrification Technologies Revolutionizing The Mining Chemicals Market
• Asia-Pacific was the largest region in the mining chemical market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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