The global Mining Chemicals Market was valued at US$ 32.69 Billion in 2022, according to the Global Mining Chemical Market Report, By Product Type (Frothers, Flocculants, Collectors, Solvent Extractant, Grinding Aids, and Others), By Application (Mineral Processing, Explosives & Drilling, Water & Waste Treatment, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), published by Coherent Market Insights.
The global global mining chemicals market market was valued at US$ 32.69 Billion in 2022 and is expected to register a CAGR of 5.7% over the forecast period (2023-2030), to reach US$ 50.84 Billion by 2030.
Global mining chemicals market are chemicals that find a broad range of applications in the mining industry. Explosives & drilling, wastewater treatment, and mineral processing are some of the major applications where global mining chemicals market are widely used. Global mining chemicals market are beneficial in improving the productivity and efficiency of the mining processes.
Drivers:
The growing production of cement is creating the demand for grinding aids. Grinding aids are extensively used in the manufacturing of limestone. Growth in the construction industry across developing regions is fuelling the demand for cement. Grinding aids reduce the cost of the energy associated with the grinding process. Hence, the increase in cement production is projected to propel the market growth of the global global mining chemicals market market.
Restraints:
The transportation and logistics of global mining chemicals market is one of the crucial factors hindering the market growth. The cost of transportation and logistics of global mining chemicals market is little high which creates pressure on the manufacturers of global mining chemicals market to deliver products efficiently and in proper condition. The market of global mining chemical market is witnessing slow growth in developed regions such as North America and Europe. This condition is expected to remain the same over the coming few years. This factor is restricting the market growth of global global mining chemicals market market.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/mining-chemicals-market-4121
Key Trends and Analysis of the Global Mining Chemicals Market:
The growing trend of wearing jewelry as a fashion statement is fueling the demand for precious metals such as gold, silver, and platinum. Global mining chemicals market are widely used to extract such precious metals. The growing demand for jewelry is increasing mining activities across the emerging region, which is further escalating the demand for global mining chemicals market. This factor is expected to foster the market growth of the global mining chemicals market over the forecast period.
The growing importance of frothers in mineral flotation applications is projected to act as a catalyst in driving the market growth of the mining chemical. Shifting focus towards the recovery of high-quality minerals coupled with the growing extraction of rare earth metals for emerging applications is also expected to propel the market growth of the global mining chemicals market.
Key Takeaways of the Global Mining Chemicals Market:
- Asia Pacific region dominated the global global mining chemicals market market in 2022, accounting for a share of 48.3% followed by North America and Europe
- The grinding aids segment dominated the global global mining chemicals market market in 2022, accounting for 27.4% share in terms of value, followed by collectors and flocculants respectively
- Asia Pacific dominated the market with a revenue share of 48.30% in 2022. This high share is attributed to the growing mineral processing activities in India, China, and others which are projected to promote the utilization of global mining chemical market in the region over the forecast period. China has a large number of mines, which are going through improvements such as setting up new sewage treatment plants and the development of sewage and wastewater treatment plants. Increasing foreign investments in emerging countries of Asia Pacific, including India and China, have contributed to the growth of the market in the region.
- New product launches, merger & acquisitions, strategic partnership expansion, and research and development activities for global mining chemicals market are the key strategies adopted by the players operating in the global global mining chemicals market market. For instance, in September 2021, Clariant, a Swiss multinational specialty chemicals company, opened a new technical facility in Brazil exclusively dedicated for developing solutions for tailings management. Clariant’s new Competence Center for Tailings Treatment will develop global mining chemicals market and technologies to support the industry’s efforts of Brazil’s mining hub.
