Press release
Mining Waste Management Market Poised for 7.2 % Growth, Set to Hit $218.17 Billion by 2029
Mining Waste Management
The surge in the requirement for metals and minerals across diverse sectors is anticipated to bolster the expansion of the mining waste management market in the future. Metals and minerals, the solid, naturally occurring substances from the Earth's crust, are steadily increasing in demand in different industries, and this is bolstering the growth of the mining waste management market by ensuring efficient waste management at all stages of mining, such as prospecting and exploration, development, extraction, transportation, and treatment of the extracted yield. For example, the Indian government-owned mineral producer, National Mineral Development Corporation Limited (NMDC), reported that iron ore production was 42.15 million tons (MT) in the fiscal year ending March 31, 2022, marking a 23% increase year over year. Therefore, the escalating demand for metals and minerals in various sectors is fueling the growth of the mining waste management market.
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What Is the projected market size and growth rate for the mining waste management market?
The market size of mining waste management has seen significant expansion in the previous years. The market will escalate from a value of $208.45 billion in 2024 to $221.31 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.2%. Factors such as the expansion of the mining industry, regulatory compliance, environmental issues, community and stakeholder expectations, and possibilities for resource recovery facilitated the growth during the historical period.
We anticipate a robust expansion of the mining waste management market in the approaching years, with its size anticipated to reach $291.9 billion in 2029, indicating a compound annual growth rate (CAGR) of 7.2%. This growth during the predicted period could be ascribed to strict environmental regulations, augmented public consciousness, circular economy practices, and corporate social responsibility (CSR). Notable trend shifts during the projection period include the incorporation of sustainable waste disposal methods, application of remote sensing for monitoring waste locations, attention on social responsibility and community involvement, emphasis on mine remediation and closure strategizing, along with the implementation of artificial intelligence (AI) in waste optimization.
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What new trends are reshaping the mining waste management market and its opportunities?
Major firms in the mining waste management market are concentrating on the creation of strategic partnerships as a means to offer dependable services to their client base. Essentially, a strategic partnership is a mutual agreement between two or more firms or entities that allows them to collaborate and attain their individual objectives. To exemplify, Talon Metals Corp., a Copper ores company based in the US, entered into a partnership with EnviCore Inc., a Canadian technology company known for its innovative and sustainable solutions for by-product treatment, in March 2023. Utilizing the technology offered by EnviCore Inc., both companies are carrying out lab-scale research to look into the possibility of repurposing tailings from the processing of nickel and copper bearing ores into materials used for infrastructure and construction undertakings. This initiative is aimed at curtailing and potentially eradicating the generation of waste.
What major market segments define the scope and growth of the mining waste management market?
The mining waste management market covered in this report is segmented -
1) By Mining Type: Surface, Underground
2) By Mineral/Metal: Coal, Iron, Gold, Aluminum, Copper, Nickel, Other Minerals or Metals
3) By Waste Type: Overburden/Waste Rock, Tailings, Mine Water
Subsegments:
1) By Surface Mining: Waste Rock Management, Tailings Management, Overburden Removal and Management, Spoil Management
2) By Underground Mining: Tailings Management, Backfill Management, Waste Rock Management, Sludge and Liquids Management
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Which region dominates the mining waste management market?
Asia-Pacific was the largest region in the mining waste management market in 2024. The regions covered in the mining waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the mining waste management industry growth?
Major companies operating in the mining waste management market include Veolia Environnement SA, Teck Resources Limited, Metsana Group, Stantec Inc., Daiseki Co Ltd., Tetra Tech Inc., Ramboll Group A/S, Cleanway Environmental Services, Golder Associates Corporation, Ausenco Ltd., Hatch Ltd., Averda, Enviroserv Waste Management (Pty) Ltd., Klohn Crippen Berger Ltd., Barr Engineering Company, Enviropacific, Aevitas Co, Interwaste Holdings Ltd., Knight Piesold, Jones & Wagener, ATC Williams Pty. Ltd., Earth Systems, SRK Consulting (Australasia) Pty Ltd., Global Mining Solutions, Zeal Environmental Technologies Limited
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What Is Covered In The Mining Waste Management Global Market Report?
•Market Size Forecast: Examine the mining waste management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the mining waste management market for a structured understanding.
•Key Players Overview: Analyze major players in the mining waste management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the mining waste management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the mining waste management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the mining waste management market.
•Industry Challenges: Identify potential risks and obstacles affecting the mining waste management market.
•Competitive Landscape: Review strategic developments in the mining waste management market, including expansions, agreements, and new product launches.
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