New York, United States, June 27, 2022 (GLOBE NEWSWIRE) -- Mining chemicals are highly corrosive and expensive substances commonly utilized in mineral exploration. They help in screening and dewatering, increasing quality and recovery, increasing efficiency, selecting minerals, handling pumps and slurry, and reducing collector dose and cost per tonne. Mining regularly used chemicals encompass frothers and collectors, dispersants, solvent extractants, rheology modifiers, and wet- and dry-grinding aids. Mining chemicals are required during the phase of processing the corresponding ores in metal mining processes. Mining activities for these minerals have increased globally as their use has increased.
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Rising Need for Specialty Chemicals in Mining Processes to Drive the Global Mining Chemicals Market
Almost every step of the mining procedure involves the usage of specialty chemicals. Mining is a complicated operation, and these chemicals help to simplify it. The mining sector has seen adjustments in processing methods, from tunneling to open-pit mining, allowing it to mine ores of diminishing grades while lowering total costs.
Furthermore, mining activity is developing in quickly growing regions such as China, Africa, and Latin America, and policymakers are taking steps to enhance mining activity in their countries. This is expected to increase the use of mining chemicals during the projected period. As a result, the growing use of specialty chemicals in mining operations will propel the worldwide mining chemical market during the forecast period.
Growing Funding and New Mining Projects in Africa to Provide Opportunities for The Global Mining Chemicals Market
Africa possesses one of the world's most significant mineral reserves, making it the most appealing investment prospect. Many resources of iron ore, uranium, gold, platinum, coal, copper, diamond, and other minerals attract new investors. Regional governments have taken steps to develop an appealing FDI policy, relaxing regulatory rules, and revising the international trade and financial structure to stimulate FDI in mining in the region.
AngloGold Ashanti Limited has resumed its gold mines in Obuasi. The business has pledged to invest between USD 495 million and USD 545 million in the Obuasi mines. This project is predicted to increase Ghana's gold output by over 400,000 ounces. Such an increase in production is expected to provide opportunities for mining chemicals over the forecast period.
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Impact of COVID-19
Markets are being hampered by uncertainty and limits as the world appears to go into lockdown to cease the spread of the COVID-19 virus. Countries affected include China, Italy, Australia, the United Kingdom, Canada, and the United States, among others, which may impact the worldwide mining industry. The ongoing spread of COVID-19 and the various reactions are predicted to affect delays in existing mining ventures. The consequences of COVID-19 on the mining industry may take some time. For example, in Italy, one of the worst-affected countries outside of China, the national lockdown has caused the postponement of several ongoing mining operations.
Due to COVID-19-related regulations, major mining firms such as Rio Tinto and Anglo American, among others, have declared plans to scale back or close their operations. Under Mongolian government limitations, Rio Tinto's Oyu Tolgoi project in Mongolia ceased non-essential activities. Due to the Peruvian Government's proclamation of a 15-day quarantine to restrict the spread of COVID-19, Anglo American is provisionally demobilizing the majority of its extensive construction team at its Qullaveco copper mine in Peru. As a result of the lockout in many countries, usage of mining chemicals is predicted to decline over the 2020 timeframe, likely to influence the market research.
Regional Insights
By geography, the global market studied has been segmented into the following regions, namely Asia-Pacific, North America, Europe, South America, and Middle East & Africa. In 2019, Asia-Pacific dominated the market studied, with about 54% share in volume. The mining chemicals market size in Asia-Pacific was 682-kilo tons in 2021 and is expected to be 962-kilo metric tons in 2030, registering a CAGR of 4% during the forecast period. China is the largest consumer of mining chemicals in the Asia-Pacific region (54.62%) and globally (29.25%).
North America is the fastest-growing market and was valued was 154-kilo tons in 2021 and is expected to be 208-kilo metric tons in 2030, registering a CAGR of 3% during the forecast period. The production of certain industrial minerals increased, owing to the growth in construction activities of the country. It led to a rise in the prices of such industrial minerals. Besides, the consumption of minerals widely used in infrastructure, residential construction, and oil and gas drilling operations witnessed a significant increase in the country in 2018.
Key Highlights
- The global mining chemicals market is estimated at USD 10,145 million in 2021 and is to reach USD 16850 by 2030, registering a CAGR of 6% during the forecast period (2022–2030).
- By function, global mining chemicals market is divided into the grinding aids segment: flotation chemical, extraction chemical, and grinding aids. The grinding aids for the largest share of about 46% of the market was valued was 548-kilo tons in 2021 and is expected to be 760-kilo metric tons in 2030, registering a CAGR of 4%.
- By application, global mining chemicals market is divided into mineral processing and wastewater treatment. The market size for the mineral processing segment was 1,144-kilo metric tons in 2021, and it is expected to reach 1633 kilotons by 2030 at a CAGR of 4%.
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Competitive Analysis
List of Top Mining Chemicals Market Suppliers
- BASF SE
- Solvay
- AECI
- Chevron Phillips
- Clariant AG
- 3M
- Arkema
- Betachem (Pty) Ltd
- CP Kelco US Inc
- CTC Mining (Tennant Chemicals Company Limited)
- Ecolab
- FMC Corporation
- Huntsman International LLC
- Kemira
- NASACO
- Orica Limited
- Qingdao Ruchang Mining Industry Co. Ltd
- Sasol
- SNF
- SUEZ
- The Chemours Company
Global Mining Chemicals Market: Segmentation
By Function
- Flotation Chemical
- Collector
- Depressant
- Flocculant
- Frother
- Dispersant
- Extraction Chemical
- Diluent
- Extractant
- Grinding Aid
By Application
- Mineral Processing
- Wastewater Treatment
By Region
- North America
- Europe
- South America
- Asia-Pacific
- Middle East & Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Mining Chemicals Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Function Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Flotation Chemical
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Extraction Chemical
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Grinding Aid
5.4.1 Market Size & Forecast (Value & Volume)
6 Application Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Mineral Processing
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Wastewater Treatment
6.3.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 U.S.
7.2.4 Canada
7.2.5 Mexico
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Brazil
7.3.4 Argentina
7.3.5 Colombia
7.3.6 Rest of Central and South America and the Caribbean
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.4 France
7.4.5 The U.K.
7.4.6 Italy
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.4 Japan
7.5.5 India
7.5.6 Australia
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.5 Qatar
7.6.6 Oman
7.6.7 Turkey
7.6.8 The Rest Of Middle East
7.7 Africa
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.3 Nigeria
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 BASF SE
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Portfolio
8.4 Solvay
8.5 AECI
8.6 Chevron Phillips
8.7 Clariant AG
8.8 3M
8.9 Arkema
8.10 Betachem (Pty) Ltd
8.11 CP Kelco US Inc
8.12 CTC Mining (Tennant Chemicals Company Limited)
8.13 Ecolab
8.14 FMC Corporation
8.15 Huntsman International LLC
8.16 Kemira
8.17 NASACO
8.18 Orica Limited
8.19 Qingdao Ruchang Mining Industry Co. Ltd
8.20 Sasol
8.21 SNF
8.22 SUEZ
8.23 The Chemours Company
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
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Market News
- In May 2019, BASF agreed with Quadra Chemicals Ltd to represent its mining solutions portfolio of products in Canada and Alaska.
- In July 2020, Arkema completed the acquisition of ArrMaz, a global leader in specialty surfactants for the crop nutrition, mining, and infrastructure markets. ArrMaz has around USD 290 million of sales from North America, South America, Asia, and Middle East & Africa.
News Media
Rapid Growth in the Global Chemical Industry Drives the Rheological Additives Market
World’s 7 Largest Chemical Companies
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