According to the latest report by IMARC Group, titled "Mining Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global mining chemicals market reached a value of US$ 7.1 Billion in 2021. Mining chemicals include various compounds that are manufactured from sulfuric acid, cyanide, mercury, nitric acid, and lead, which are utilized for mineral processing, explosives and drilling. They are mainly used for reducing the moisture content present during the filtration of mineral slurries of oxide ores of zinc, iron and copper as well as enhancing the efficiency of heating, condensing and cooling processes. Apart from this, they are commonly utilized as a dust control agent and soil stabilizer. Some of the commonly utilized mining chemicals include coagulant, dewatering, heat-transfer fluid and dust control suppressants that are widely adopted as thickeners, diluents and coagulants.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Mining Chemicals Market Trends:
The global market is primarily driven by increasing mining activities. This is supported by the growing investments by private and public firms in new mining projects across several countries. Along with this, the rising adoption of specialty chemicals in mining processes in order to ensure better quality processes and production is creating a positive market outlook. Moreover, the augmenting utilization of mining chemicals in wastewater treatment due to the development of residential buildings and rapid urbanization are providing an impetus to the market growth. In line with this, the growing spending on infrastructural development projects, such as highways, roadways and railways, is also impacting the market favorably. Additionally, the widespread demand for platinum and gold in the manufacturing of jewelry is providing a boost to the demand for mining chemicals across the globe. Other factors, including rapid industrialization, the increasing product adoption in the chemical industry and extensive research and development (R&D) activities conducted by key players, are further positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 9.3 Billion by 2027, exhibiting a CAGR of 4.7% during 2022-2027.
- On the basis of the product type, the market has been categorized into flotation chemicals (collectors, depressants, flocculants, frothers and dispersants), extraction chemicals (diluents and extractants) and grinding aids.
- Based on the mineral type, the market has been classified into base metals, non-metallic minerals, precious metals and rare earth metals.
- On the basis of the application, the market has been segmented into mineral processing, explosives, drilling, wastewater treatment and others.
- Based on the regional insights, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include AECI Limited, Arrmaz Products Inc. (Arkema S.A.), BASF SE, Betachem (Pty) Ltd, Clariant AG, Dow Inc., Dyno Nobel (Incitec Pivot Limited), Ecolab Inc., Orica Limited, Sasol Ltd., Solvay S.A. and Zinkan Enterprises Inc.
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