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Press Release: Mining Floatation Chemicals Market To Surpass US$ 14.0 Billion By 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Flotation is a process which is mainly used to concentrate and separate the ores by modifying the surface properties. Flotation chemicals are used for the froth flotation process and these chemicals include pH regulators, conditioning agents, slime dispersants, resurfacing agents, wetting agents, collectors, and frothers. The flotation process is very useful for the ores benefaction and this the process can also attract very minute particles. Floatation chemicals restrict the flotation of minerals out from the surface of the rock. These chemicals are very essential for the mining industry as they are helpful in separating valuable minerals from its ores by enabling them to attach with the air bubbles that help in the extraction of the minerals efficiently.
The global mining floatation chemicals market is projected to surpass US$ 14.0 Billion by the end of 2027, in terms of revenue, growing at CAGR of 4.7% during the forecast period (2019 to 2027).
Drivers
Growing demand for minerals is projected to serve as a major driver factor the market of mining flotation chemicals. According to the U.S. Department of the Interior, The estimated value of U.S. industrial minerals production in 2018 was US$ 56.3 billion, about 7% more than the revised value of 2017. Growing production of minerals is expected to fuel the market growth of mining flotation chemicals over the forecast timeframe.
Growing industrialization and urbanization around the globe is expected to propel the market growth of mining flotation chemicals over the forecast period. According to the Coherent Market Insights, with the increasing urbanization, demand for copper from India is expected to increase at 9% per annum through 2025. Moreover, the rising demand for the metal is also expected to fuel the market growth of mining flotation chemicals.
Regionally, Asia-pacific dominated the global mining floatation chemicals market in 2018, reporting 33% market share in terms of revenue, followed by North America and Europe, respectively.
Figure 1. Global Mining Floatation Chemicals Market, Revenue Share (%), By Region, 2018
Market Restraints
Increase in transportation expenses coupled with high import duties is fluctuating prices of mining flotation chemicals and this is expected to hinder the market growth of mining flotation chemicals. According to the Coherent Market Insights analysis, accounts for around 20% of the overall cost of chemicals. Hence, the cost associated with the transportation of flotation chemicals is projected to hinder the market growth over the forecast period.
Growing environmental concerns have encouraged the government to implement environment-friendly practices in the mining industry and this has decreased the demand for mining flotation chemicals. Hence, increasing environmental concern around the globe is expected to hamper the market growth of mining flotation chemicals over the forecast period.
Market Opportunities
Expanding chemical industry around the globe is expected to accelerate the market growth of mining flotation chemicals. The chemical industry, its supply chain, and payroll-induced impacts made an estimated US$ 5.7 trillion contribution to world GDP in 2017. Moreover, the chemical industry spent US$ 3.0 trillion with their suppliers in 2017, buying goods and services used in the manufacture of their products.
Decreasing ores grades due to aging minerals deposit have reduced the grade of minerals ores. The market is experiencing huge demand on the account of increasing degrading ore grades as more is needed for the extraction of minerals. Hence, rising concern over degrading of the ore is expected to augment the market growth of mining flotation chemicals over the forecast timeframe.
Figure 2. Global Mining Floatation Chemicals Market – Opportunity Analysis
Market Trends
The introduction of new and advanced frothers has been a major trend in the mining industry and this is projected to favor the market growth of the flotation process. The rising shift from alcohol-based MIBC to high molecular structure glycol-based frothers which not only strength bubble but enable easy milling operations. Hence, the growing trend of using frothers is expected to accelerate the market growth of mining flotation chemicals.
Advancement in the floatation process is expected to be a major trend in the market and this is expected to augment the market growth of mining flotation chemicals. For instance, in October 2019, FLSmidth recently announced two important flotation innovations – its mixedROW Flotation System, which “combines the best attributes of two technologies to create next-level results” and the Froth Recovery Upgrade Package which finds solutions to flaws found in original froth recovery technology.
Figure 3. Global Mining Floatation Chemicals Market, Revenue Share (%), By Chemical Type, In 2018
On the basis of chemical type, collectors dominated the global mining floatation chemicals market in 2018 with around 28% of market share in terms of revenue, followed by flocculants and frothers, respectively.
Figure 4. Global Mining Floatation Chemicals Market – Value Chain Analysis
Competitive Section
Key players operating in the mining floating market BASF SE, Huntsman Corporation Air Products and Chemicals, Inc., Cytec Industries Inc., Cheminova A/S, Clariant AG, Chevron Phillips Chemical Company, Kemira Oyj, Nasaco International LLC, and Beijing Hengju Chemical Industry Co. Ltd.
Mining flotation chemicals are the type of chemicals which are used to extract minerals from their sulphide and non-sulphide based ores. These chemicals help in floatation of minerals out from their rock surface with respective surface flotation properties. The mining floatation process involves aeration of different minerals in the presence of flotation chemicals.
Market Dynamics
The global mining floatation chemical market has witness a surge in market growth in terms of revenue in recent past years, owing to the surge in growth of the mining industry across the globe. Furthermore, the rising demand for various minerals and stabilization of metal prices fuelled the growth of mining industry in recent past few years. This in turn is expected to provide lucrative growth of the market during the forecast period.
On the basis of chemical type, the global mining floatation chemical market is bifurcated in to collectors, frothers, dispersants, activators, depressants, flocculants and others. Among these, frothers accounts a substantial market share in terms of revenue owing to its wide range of applicability in various industries. They are mainly used for extraction of minerals by attaching to air bubbles.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
* Browse 45 market data tables* and 30 figures* on "Global Mining Floatation Chemicals Market” – global forecast to 2027
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