Mining Chemicals Market to Worth USD 18.13 Billion by 2030 | Skyquest Technology
Mining chemicals market is segmented based on ore type and application. Based on the ore type, the market is segmented into powder gold, iron, copper, phosphate and others. Based on application, the market is segmented into mineral processing, explosives and drilling, water treatment, and others- Industry Forecast 2023-2030
Westford USA, July 21, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the Mining chemicals market is witnessing a surge in demand for specialty chemicals, notably collectors, frothers, and flocculants, as they are pivotal in optimizing mineral processing operations. These chemicals are specifically designed to enhance the efficiency and effectiveness of various processes involved in mining, such as flotation, solvent extraction, and tailings management.
Browse in-depth TOC on the “Mining Chemicals Market”
- Pages – 242
- Tables – 65
- Figures – 75
The mining chemicals market is poised for steady growth over the forecast period, primarily due to the widespread adoption of these products across diverse sectors. The versatility of mining chemicals has made them indispensable in various industries, including mineral processing, water treatment, underground mining, stockpiles, mine haul roads, explosives & drilling, and surface mining, among others.
Report Scope & Segmentation:
|Market Size in 2022||USD 10.71 Billion|
|2030 Value Projection||USD 18.13 Billion|
Prominent Players in the Mining Chemicals Market
- BASF SE
- Clariant AG
- AkzoNobel N.V.
- Cytec Solvay Group
- Dow Inc.
- ExxonMobil Chemical Company Inc.
- Huntsman Corporation
- Orica Limited
- Ashland Global Specialty Chemicals Inc.
- SNF Group
- Chevron Phillips Chemical Company LLC
- Kemira Oyj
- Evonik Industries AG
- Nalco Champion (Ecolab Inc.)
- Air Products and Chemicals Inc.
- The Lubrizol Corporation
- The Chemours Company
- Croda International Plc
- Solenis LLC
- AECI Limited
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Iron Ore Segment is Expected to Grow in the Market Due to Growing Demand for High-Quality Iron Ore Products
Iron ore emerged as the dominant type in the mining chemicals market, accounting for a substantial revenue share of over 18%. This dominance can be attributed to the growing demand for high-quality iron ore products with reduced impurities to enhance steel production processes. As the steel sector expands globally, the need for superior-grade iron ore has become more critical, driving the demand for mining chemicals that aid in efficient mineral processing and refining.
The markets in the Asia Pacific emerged as the dominant player in the mining chemicals market, commanding an impressive 36% revenue share. This significant market dominance can be attributed to the remarkable growth of mineral processing industries in countries such as China, India, and others across the region.
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Explosives and Drilling Applications Segment is Expected to Dominate the Market Due to the Surge in Demand for Metals and Minerals
Explosives and drilling applications emerged as the dominant segment in the mining chemicals market, accounting for over 35% of the total sales. This substantial market share can be attributed to the surge in demand for metals and minerals, leading to increased exploration and mining activities worldwide.
Regional markets in the Latin America are experiencing a surge in demand for mining chemicals market, primarily fueled by a significant rise in mining and mineral processing activities in key countries such as Brazil, Colombia, Argentina, and Chile. The need for specialized chemicals to enhance extraction processes and improve overall efficiency becomes paramount, as these countries expand their mining industries.
A comprehensive analysis of the major players in the mining chemicals market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Mining Chemicals Market
- In 2023, AECI made headlines by unveiling its innovative water treatment program to reuse water, reduce its carbon footprint, and champion sustainability. One of the notable initiatives within this program is being implemented at a platinum mine in North West, where AChemicals ECI Water is leading the way in treating and recycling fissure water through advanced desalination techniques.
- In 2023, there were reports of significant development in the mining chemicals industry. The French mining company, Eramet and the German chemical business BASF were said to be finalizing a substantial USD 2.6 billion agreement. This agreement is set to pave the way for a joint venture to process nickel in Indonesia, showcasing the growing importance of strategic partnerships in the global resource sector.
Key Questions Answered in Mining Chemicals Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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