“Mining chemicals market projected to grow at a CAGR of 4.60%.”
The mining chemicals market size is projected to grow at a CAGR of 4.60% during the forecast period of 2022–2031 and reach USD 7.54 billion by 2031.
The mining chemicals market comprises chemicals that are used as grinding aids, flocculants, flotation reagents, and solvent extractants. These chemicals are used in all stages of production. They increase the efficiency and productivity of the mining processes. A wide variety of general and specialty chemicals are utilized for mining. Increase in complexity of ores coupled with the strong demand for metals and minerals is expected to drive the demand for mining chemicals. However, factors such as stringent environmental regulations, high energy costs, weak internal demand in developed countries, and low profitability have contributed to the slow growth of the mining chemicals market during the forecast period.
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“The grinding aids segment accounted for the highest market share in the mining chemicals market in 2022”
The secondary segment dominated the mining chemicals market in 2022 and is projected to retain the leading position through 2031. This can be attributed to the high demand from cement manufacturing nations such as China, India, and the U.S.
“The explosives & drilling segment, by application, accounted for a considerably higher market share in the mining chemicals market”
The mining chemicals market has been segmented into types, namely, explosives & drilling, mineral processing, water & wastewater treatment, and others. The explosives & drilling led the demand for application in mining chemicals in 2022 and is projected to grow at a higher CAGR from 2022 to 2031. The ability to reduce stress is driving the demand for smoking tobacco. The rapid growth of the explosives & drilling segment can be attributed to the depletion of reserves, which has shifted the focus of mining companies to deep-surface mining for extraction of high-quality minerals.
“The Asia-Pacific market is expected to witness the fastest growth during the forecast period”
The Asia-Pacific region is projected to register the highest CAGR globally, between 2022 and 2031. China was the largest market for mining chemicals in the Asia-Pacific region, in 2022. The Chinese market is projected to grow at the highest CAGR during the forecast period. The rapid expansion of economies in this region is driving the growth of the mining industry here. As a result, the mining capacity of various metals and minerals is increasing, thereby boosting the demand for mining chemicals.
Breakdown of Primaries
By Company Type: Tier 1 – 33%, Tier 2 – 50%, and Tier 3 – 17%
By Designation: Director Level – 33% and Manager Level – 67%
By Region: North America – 25%, Europe – 28%, Asia-Pacific – 22%, South America – 10%, and Middle East & Africa – 15%
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Note: The tier of the companies is defined on the basis of their total revenue, as of 2022.
Tier 1: Revenue > USD 500 million; Tier 2: USD 100 million < Revenue < USD 500 million; Tier 3: Revenue < USD 100 million
The various key players profiled in the report are as follows:
1. AkzoNobel N.V. (Netherlands)
2. BASF SE (Germany)
3. Clariant AG (Switzerland)
4. Cytec Industries Inc. (U.S.)
5. Kemira OYJ (Finland)
6. ArrMaz Custom Chemicals Inc. (U.S.)
7. The Dow Chemical Company (U.S.)
8. Huntsman Corporation (U.S.)
9. Orica Limited (Australia)
10. Snf Floerger (France)
The primary objective of the study is to define, segment, and project the global mining chemicals market on the basis of material, type, application, and region. The study aims at strategically analyzing micro markets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the main factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). In addition to this, the study analyzes competitive developments such as mergers & acquisitions, expansions, new product launches, and research & development activities in the mining chemicals market.
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the mining chemicals market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, opportunities, and challenges.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes mergers & acquisitions, expansions, and new product launches.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:Lauren Brown
Shibuya Data Count
Tel: + 81 50 50509159
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