Mining Chemicals Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Mining Chemicals Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global mining chemicals market is expected to record a CAGR of around 4% during the forecast period 2022-2027. Growing usage of mining chemicals in mineral processing and wastewater treatment is expected to boost the market's growth.

· The key driving factors responsible for the growing demand for mining chemicals include increasing mining activities in Asia-Pacific and North America and the increasing demand for specialty chemicals in mining processes.

· Stringent environmental regulations are the key restraints that may slow down the market's growth.

· Increasing investments and new mining projects in Africa are likely to create opportunities for the market over the coming years.

· The Asia-Pacific region is expected to dominate the market, and it is anticipated to witness the highest CAGR during the forecast period.

Mining Chemicals Market TrendsIncreasing Use of Mining Chemicals in Mineral Processing

· Mining chemicals aid the mining and mineral processing industries attain maximum efficiency through improved selectivity and higher recovery while providing environmental benefits.

· A large number of reagents, usually referred to as modifying agents, are used in the flotation of sulfide ores. This is especially true in the case of complex ores, where two or more valuable minerals have to be separated from each other.

· Sulfuric acid is a chemical used in copper mining. It is also a byproduct of many kinds of mining. It is mixed with water and heavy metals to form acid mine drainage.

· Canada's mining industry is the leading global potash producer, and it is ranked among the top five producers of aluminum, diamonds, gemstones, gold, indium, niobium, platinum group metals, titanium concentrate, and uranium.

· In line with the growing mining and processing activities worldwide, the consumption of mining chemicals has also been increasing.

Asia-Pacific to Dominate the Market during the Forecast Period

· Countries have been significantly investing in the mining sector in Asia-Pacific, majorly focusing on minerals, such as lithium, cobalt, and nickel, which are widely used in battery technologies. These nations are expected to dominate the market in the future, as the world is moving toward more clean-tech economies, with batteries being one of the major markets.

· The launch of the National Mineral Policy 2019 and the Mines and Minerals (Development and Regulation) Amendment Act, 2021, created an opportunity for investors looking to invest in the metal industry in India.

· According to the Ministry of Commerce and Industry, India achieved an FDI equity inflow of USD 4,747.24 million in metallurgical industries and mining from April 2014 to March 2019.

· The board of directors of state-owned CIL approved 32 coal-mining projects in the financial year 2021, indicating an incremental capital investment of around INR 47,300 crore.

· Mining production in China increased by 7.3% in December 2021 over the same month in 2020.

· The increasing infrastructural development and ease in government policies and regulations in India and China are likely to increase the demand for specialty chemicals in mining activities in this region.

· The demand for mining chemicals is expected to further rise with rapid industrialization and growing expenditure on infrastructure projects in railways, roads, and highways.

Mining Chemicals Market Competitive Analysis

The mining chemicals market is partially consolidated in nature, with the top five players accounting for about 40% of the market share. Key players in the mining chemicals market include BASF SE, Solvay, Chevron Phillips Chemicals Pvt. Ltd, Clariant AG, and AECI.

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• The market estimate (ME) sheet in Excel format
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