Global Gold Mining Chemicals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Gold Mining Chemicals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Gold mining refers to the development and mining process of gold deposits. Different gold deposits use different mining methods, and the specific mining methods should be decided according to the deposit, mining environment, and other factors. A variety of chemicals are used in the process of gold mining, including sodium cyanide, emulsifiers, sulphuric acid, SMBS, caustic soda, lime, flocculent, sodium hydrosulfide, antiscalants, etc. This report studies the global Gold Mining Chemicals industry.

Market Overview:

The latest research study on the global Gold Mining Chemicals market finds that the global Gold Mining Chemicals market reached a value of USD 3469.66 million in 2022. It’s expected that the market will achieve USD 4221.18 million by 2028, exhibiting a CAGR of 3.32% during the forecast period.

To curb the COVID-19 epidemic, most countries have introduced many policies, including border blockades and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, affected by the supply of raw materials and labor shortages. For the Gold Mining Chemicals industry, the blockade policy will affect the supply of raw materials and the export trade of products. The social distancing policy may have a great impact on the production of products, especially for some small factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants, and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect their development of enterprises. But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

The growing demand for gold market

The world has an insatiable desire for gold. The biggest use of gold is in the jewelry industry. Because pure gold is too soft, it is mixed with silver, copper, or both to achieve the required hardness and strength. Gold is also widely used in dental bridges and crowns. Therefore, it is mainly alloyed with silver, copper, platinum, or palladium to increase strength. Because of its high conductivity and corrosion resistance, it is used for electroplating electronic contacts, transistor bases, and semiconductor silicon wafers. Its uses range from fillings to satellites. Chemicals are widely used in the gold mining process. Every step of mining requires special chemicals for specific purposes. The growing demand for the gold market will promote the development of the Gold Mining Chemicals industry.

Strict government policies and measures

Cyanide, traditionally used for mining precious metals such as gold, is a highly toxic chemical, which has attracted much attention in recent years. Governments, public institutions, and private sector organizations are increasingly aware of the extreme threat posed by this reagent to basic resources such as the environment, human health, and drinking water, and many areas have issued strict regulations on its use. Some countries have completely banned its use. The Czech Republic, Greece, Turkey, Germany, Hungary, Costa Rica, Argentina, Ecuador, and some States in the United States banned cyanide leaching technology in gold and silver mining in the late 1990s and early 21st century. Since then, other countries have followed suit. In October 2019, the Sudanese government banned the use of cyanide and mercury in mining operations. Previously, the public strongly protested the impact of these chemicals on the health and environment of mining communities. Strict government policies and measures will challenge the industry.

Region Overview:

From 2022-2027, Asia Pacific is estimated to witness robust growth prospects

Company Overview:

Orica, Hebei Chengxin, Cyanco were the top 3 players in the Gold Mining Chemicals market in 2020, taking up a market share of 22% together.

Orica

Orica is one of the world's leading mining and infrastructure solutions providers. From the production and supply of explosives, blasting systems, mining chemicals and geotechnical monitoring to cutting-edge digital solutions and comprehensive range of services, Orica sustainably mobilize the earth's resources.

Hebei Chengxin

Hebei Chengxin Co., Ltd., ICMI Certified, is one of the largest producers of sodium cyanide and its derivatives in China. It is the top-50 industrial enterprise of Shijiazhuang, top-100 enterprise of Hebei Province and top-500 chemical enterprise of China.

Segmentation Overview:

Among different product types, Sodium Cyanide segment is anticipated to contribute the largest market share in 2027.

Application Overview:

The market's largest segment by application is the segment Smelt , with a market share of 60.2% in 2021.

Key Companies in the global Gold Mining Chemicals market covered in Chapter 3:

Orica
Unischem
Korund
Cyanco
CyPlus GmbH
AECI Mining Chemicals
Australian Gold Reagents (AGR)
Shandong Pulisi Chemical
Tiande Chemical
Lucebni zavody DRASLOVKA
Taekwang Industrial
Anhui Shuguang Chemical Group
Hebei Chengxin
Chemours Company
Cytec Solvay Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Gold Mining Chemicals market from 2018 to 2029 is primarily split into:

Sodium Cyanide
Emulsifiers
Sulphuric Acid
SMBS
Caustic Soda
Lime
Flocculent
Sodium Hydrosulfide
Antiscalants

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Gold Mining Chemicals market from 2018 to 2029 covers:

Mine
Smelt

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)