Summary
Major players in the market are AECI Mining Chemicals, BASF SE, Clariant AG, SNF Group, Kemira, 3M, Solvay, Ecolab, Exxon Mobil Corporation, Chevron Phillips Chemical Company LLC, Orica Limited, Arkema, Huntsman Corporation, Betachem (Pty) Ltd., and ArrMaz Products Inc.
The global mining chemicals market is expected to grow from $14.89 billion in 2022 to $15.96 billion in 2023 at a compound annual growth rate (CAGR) of 7.17%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mining chemicals market is expected to grow to $20.17 billion in 2027 at a CAGR of 6%.
The mining chemicals market consists of sales of dewatering chemicals, heat transfer fluids, dispersants, and dust control suppressants.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Mining chemicals refer to chemicals that are involved in separating minerals from their ore, such as cyanide, solvents, and sulfuric acid.Mining chemicals are crucial for the efficient recovery of ores from natural deposits.
These substances are used to increase the metals and minerals purity.
Asia-Pacific was the largest region in the mining chemical market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the mining chemicals report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of mining chemicals are frothers, flocculants collectors, solvent extractants and grinding aids.An extractant is a solvent that primarily facilitates the extraction of a substance from a liquid.
The various types of minerals include base metals, non-metallic minerals, precious metals and rare earth metals, that is used in various applications such as mineral processing, explosives and drilling, water and wastewater treatment and others.
Increasing mining activities are expected to boost the mining chemicals market.Mining activity refers to extracting metallic and non-metallic minerals or industrial rock deposits from the earth.
The nature of mining decides the use of various chemical contaminants, such as mercury, cyanide, and arsenic, utilized at different operation phases.It is used to separate minerals from their ore and boost metals’ purity and minerals’ purity.
For instance, in February 2021, according to the United States Geological Survey, metal mining production in the United States is expected to be $27.7 billion in 2020, 3% more than in 2019. Furthermore, in May 2020, according to the report published by the World Bank, a US-based international financial institution, by 2050, the output of minerals like cobalt, graphite, and lithium may have increased by approximately 500% to fulfill the rising demand for clean energy technology. Therefore, increasing mining activities are driving the growth of the mining chemicals market.
Innovative mineral extraction technologies have emerged as the key trend gaining popularity in the mining chemicals market.Major companies operating in the mining chemicals market are developing innovative technologies such as electrification technologies to strengthen their position in the market.
For instance, in September 2021, ABB Ltd., a Switzerland-based electrification and automation company, launched ABB Ability eMine. ABB Ability eMine’s unique feature makes all-electric mining possible with completely integrated digital and electrification systems from the mine to the port and has a fully automated charging system for haul trucks. The different digital and electrical technologies are contributing to the mining industry’s transformation to a low-carbon economy.
In 2021, Huntsman International, a U.S.-based manufacturer of speciality chemicals, acquired Gabriel Performance Products for $250 million. The acquisition of Gabriel Performance Products expanded the specialist portfolio of Huntsman International, improved its North American footprint and generated considerable commercial synergies. Gabriel Performance Products is a U.S.-based manufacturer of speciality chemicals, including mining chemicals.
The countries covered in the mining chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The mining chemical market research report is one of a series of new reports that provides mining chemical market statistics, including mining chemical industry global market size, regional shares, competitors with a mining chemical market share, detailed mining chemical market segments, market trends and opportunities, and any further data you may need to thrive in the mining chemical industry. This mining chemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
