The Global Mining Floatation Chemicals Market is projected to surpass US$ 16.5 Billion by the end of 2030, in terms of revenue, growing at a CAGR of 5.2% during the forecast period (2023 to 2030).
Global Mining Floatation Chemicals Market: Growth Drivers
Declining Ore Quality Consolidate the Demand in Mining Flotation Chemicals Market
Over the past few years, the average copper ore grade has drastically decreased. Mineral ores' grades are declining due to aging mineral resources. As more chemicals are needed to recover the desired mineral, the need for mining flotation chemicals rises as ore grades deteriorate.
Increasing transportation costs and hefty import taxes have caused mining flotation chemicals, especially chemical reagents used to enhance mineral grade, to fluctuate in price.
Figure 1. Global Mining Floatation Chemicals Market, Revenue Share (%), By Region, 2022
Demand for Collectors to Push Mining Flotation Chemicals Market
Chemical companies involved in mining flotation are presently concentrating on understanding improved flotation collector responses to various mineralogy species. The market for mining flotation chemicals has recently seen a trend towards the development of novel frothers. In addition to improving bubble strength, switching from high molecular structure glycol-based frothers to MIBC allowed for coarser grinding in the mill.
Mining flotation chemical industries are concentrating on improving their understanding of how flotation collectors react to various mineralogy species and customizing collector combinations to improve complicated ore processing efficiency. Manufacturers are working to have a better grasp of consumer wants to supply customized reagents.
Mining Floatation Chemicals Market Report Coverage
|Base Year:||2022||Market Size in 2022:||US$ US$ 11.0 Bn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||5.2%||2030 Value Projection:||US$ 16.5 Bn|
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.
|Restraints & Challenges:||
Global Mining Floatation Chemicals Market: Restraints
High Logistic Costs
The global market is quite competitive. Therefore, product pricing is exceptionally crucial. Logistics plays a significant role in detecting the prices of mining chemicals. Logistics costs mainly account for around 20% or more of the overall cost of any mining chemical. In addition, the overseas shipment cost is always high in almost all the countries across the world, which affects the market negatively. Manufacturers or suppliers must constantly evaluate the logistic cost and transportation possibilities, which are likely to provide the best economies of scale, provide the best quality products, and on-time delivery to the clients or customers.
Figure 2. Global Mining Floatation Chemicals Market, Revenue Share (%), By Chemical Type, In 2022
Global Mining Floatation Chemicals Market- Impact of Coronavirus (Covid-19) Pandemic
During the COVID-19 pandemic, many industries suffered a tumultuous time, and it was no different for the global mining flotation chemicals market. Many governments across the globe implemented lockdown regulations, and factories and production facilities in many sectors came to a halt. The supply chain was greatly disrupted as many businesses followed lockdown protocols. Some of these impacts include the suspension of mining production and the reduction of sales of minerals in the market. Some of the main verticals of the mining industry include the energy sector and the manufacturing sector.
Global Mining Floatation Chemicals Market: Market Segmentation
Asia Pacific dominated the Global Mining Floatation Chemicals Market in 2022, reporting a 33% market share in terms of revenue, followed by North America and Europe, respectively.
Global Mining Floatation Chemicals Market: By Chemical Type
On the basis of chemical type, collectors dominated the Global Mining Floatation Chemicals Market in 2022 with around 28% of the market share in terms of revenue, followed by flocculants and frothers, respectively.
Global Mining Floatation Chemicals Market: Recent Developments
Global Mining Floatation Chemicals Market: Key Companies
Key players operating in the mining floating market are 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.
Definition: Flotation is a process that 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 process can also attract very minute particles.
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