Global Mining Chemical Market Expected To Grow Around USD 4.82 Billion by 2020
Zion Research has published a new report titled “Mining Chemicals (Frothers, Flocculants, Collectors, Solvent Extractants, Grinding Aids and Others) Market for Mineral Processing, Explosives & Drilling, Water & Wastewater Treatment and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, global mining chemicals market was valued at around USD 3.33 billion in 2014 and is expected to reach around USD 4.82 billion in 2020 and is anticipated to grow at a CAGR of slightly over 6.5% between 2015 and 2020. In terms of volume, global mining chemicals market stood at 1.6 million tons in 2014.
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Mining chemicals are very important facet of mining industry. Mining chemicals are of crucial importance in increasing productivity and efficiency in extraction and recovery of minerals and target materials from ore. Large number of chemicals are used for various mineral extraction processes, which includes extraction, grinding, floating and others. Various chemicals are used as flocculants, collectors, solvent extractant, grinding aids, etc. in different mining processes such as explosives & drilling, mineral processing and waste water treatment, etc.
Mining industry is facing rapid depletion of proven reserves of various metals and minerals coupled with decreasing ore grades across various mines all over the world. This is resulted into growing need to improve productivity and efficiency in extracting metals and minerals from the ore. Use of mining chemicals has become necessary to increase production to fulfill growing demand for metals in construction, oil & gas and packaging industries. Moreover, growing demand for metals from emerging economies has been resulted into increase in mining activity. This in turn resulted into growing demand for mining chemicals. However, transportation cost coupled with environmental concerns associated with the use of mining chemicals such as explosives is expected to be major concern for the industry participants. Development and commercialization of eco-friendly mining chemicals is expected to provide new growth channel to industry participants.
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On the basis of product type, mining chemicals are segmented as grinding aids, flocculants, solvent extractants and flotation chemicals and others. Grinding aids was one of the largest product segments of mining chemicals market with slightly over 20% share in total volume consumption in 2014. In 2014, collectors was the largest product segment in terms of volume. However, flocculants are expected to witness fastest CAGR during the forecast period. Frothers and solvent extractant are other important product segments of mining chemicals market.
Based on application, the global mining chemical market can be segmented into water & wastewater treatment, mineral processing, explosives and drilling. Water & wastewater treatment was one of the leading application segments. It accounted for around 17% share in the mining chemical market in terms of volume in 2014 and is expected to exhibit fastest CAGR between 2015 and 2020. Mineral processing was the largest application segment in 2014. Drilling and explosives is another important application market for mining chemicals.
On the basis of region, the global mining chemical market is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global mining chemicals market with over 40% share in total volume consumption in 2014. Increasing urbanization and growth in economy is resulted into growing infrastructure development activity in the region. Moreover, mining sector is dominated by China and rest of Asia Pacific region. This in turn resulted into growing demand for metals and mining chemicals subsequently. Asia Pacific is followed by North America in terms of volume consumption. Europe, Latin America and Meddle East & Africa are also expected to grow at a moderate pace.
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Some of the key players in global mining chemicals market include, DOW Chemicals, BASF SE, SNF Flomin, Cytec Industries, Ashland Inc., Chevron Phillips Chemical Company LP, NASACO International, Air Products and Chemicals, Inc., Beijing Hengju, Cheminova A/S, AkzoNobel Performance Additives and others.
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