According to the latest market research update by
IndustryARC, for the period between 2015
and 2020, Mining Chemicals Market is
estimated to grow at CAGR of 6.72%
to reach $30.41 Billion by 2020.
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Report:
Market Growth Brief:
Mining is considered to be one of the basic
activities for human advancement. The supply of metal and mineral
products has supported human endeavor over epochs and will remain to play its
role in meeting society’s needs. Earlier, the mineral industry operated
partially at the global level only, as they served the global commodity
markets. However, globalization opened up new avenues to private investment in
mining sector by many countries which were earlier quite deterring. Mining industry could have a
substantial impact on the local economic development of the mining area as well
as the neighboring countries in the next twenty five years.
Market Applications:
Mining chemicals play a vital role in many of the applications
like mineral processing, explosives & drilling, water & waste
water treatment and more to ensure that the productivity and efficiency of
mining process such as recovery and extraction of minerals and target materials
from ore is enhanced. Owing to their significant applications in diverse end
used industries, mining chemicals market is set to grow at a considerable pace
in the coming years, with explosives & drilling being the prevalent market
for mining chemicals globally. The impetus for the segment is provided
primarily by the coal industry which is at present the biggest user of
explosives.
Market Segmentation:
This market has been segmented by
types of products, chemical used, application sectors and geography. The mining
chemicals encompass a variety of products which include flotation collectors,
flocculants, solvent extractants, frothers, scale inhibitors, crystal growth
modifiers, defoamers and more. The various chemicals used in the process are
cyanide, sulfuric acid, ammonium nitrate, fuel oil, acetylene and more.
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Market
Driving Factors:
Considerable demand and R&D investments for
mineral resources from developing countries especially Asia Pacific and America
are the main driving factors for this market. Owing to the demand for mineral resources
from developing countries to fuel their rapidly growing economies, mining
chemicals market is estimated to experience considerable growth down the years.
It is very likely that the significance of mining chemicals in the value chain
will grow in the coming years, because industry is aspiring to have efficient
production even from the lower grade ores.
Regional
Analysis:
Asia Pacific (APAC) is the leading producer of
mining chemicals and has the highest market share in the global mining
chemicals production owing to the presence of large number of coal mines. In
the APAC, China is the major country in terms of top mining chemical
manufacturers and suppliers. It is followed by Americas, holding a considerable
share of 22% in the global mining chemicals market.
Top Market Players:
Some of the Key players of this market mentioned
in this report are:
·
BASF SE (Germany)
·
The Dow Chemical Company (U.S.)
·
Ashland Inc (U.S.)
·
Clariant AG (Europe)
·
Nalco Company
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IndustryARC:
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