Pune, India -- (SBWIRE) -- 01/22/2020 -- The latest report on "Mining Chemicals Market (Application - Mineral Processing, Explosives & Drilling, Water & Wastewater Treatment; Type - Grinding Aids, Flocculants, Frothers, Collectors, and Others; Region - North America, Europe, Asia-Pacific, and Rest of The World): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024." The global mining chemicals market is projected to grow at a CAGR of 4.55% over the forecast period of 2018-2024.

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Rising Infrastructural Development also Creates Demand for Metals that in Turn Boosts the Mining Chemical Industry

Mining chemicals are the chemicals used for the processing of minerals or metal ores extracted from the natural deposits by mining. The mining industry requires high amounts of chemicals to extract and process resources, including a variety of concentration and refining processes. Mining chemicals are used in various mining phases such as ore extraction, benefaction, and tailings disposal. The most common chemicals used in the mining industry are cyanides, heavy metals, sulfuric and nitric acids. The mining chemicals available are divided into several categories such as sulphide collectors, collectors for oxides and non-metallic minerals, frothers, modifiers, flocculants, dewatering aids, and solvent extraction and ion exchange reagents.

The demand for metals for the production of goods that modern society needs have increased drastically over the past few decades. Thereby, increasing the extraction to meet those demands. Additionally, the rising infrastructural development also creates demand for metals that in turn boosts the mining chemical market. In addition, diminishing ore grades of mines worldwide has increased the production of mining and mineral industries resulting in the growth of the mining chemical market. Modern mineral exploration is driven largely by technology. The technological advancements in the mining industry have increased the production of minerals manifold. Analyzing only copper mines, the average ore grade has decreased approximately by 25% in the last ten years, but the total production has increased by 30% in the same period.

Wastewater Treatment Utilizes Mining Chemicals, Thus Driving the Mining Chemical Market

Growing environmental concerns increases pressure on mining industries to treat wastewater released from the industries. The mining and mineral processing industry is highly dependent on water for all aspects of their operations. The wastewater treatment utilizes mining chemicals, thus driving the mining chemical market. The increased enforcement of regulations and maintaining legislation to protect the environment and health restrain the growth of the mining chemical market. Chemicals used in mining and processing minerals contaminate the land, water, and air, causing health problems for workers and people living near mines. However, the emergence of eco-friendly mining processes that eliminate the use of toxic mining chemicals also acts as a challenge for the growth of the mining chemical market. Moreover, the expansion of mining to more regions such as Africa and South America provides opportunities for the growth of the mining chemical market.

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Asia Pacific Dominates the Mining Chemical Market

Among the geographies, Asia Pacific dominates the mining chemical market and is expected to remain dominant over the forecast period. Russia, Australia, China, and India are among the leading countries in the mining sector that promote the growth of mining chemicals in the Asia- Pacific region. North America is also a dominant region owing to the well-established mining sector in countries such as the U.S. and Canada Europe is the fastest-growing region in the mining chemical market owing to the presence of global mining houses such as Rio Tinto Group, BHP Billiton, and Anglo American PLC. The rest of the world regions such as Africa and South America has huge reserves of gold, cobalt and other industrial metals. Thus, the rest of the world regions are expected to grow at a significant rate in the mining chemical market.

Mining Chemicals Industry: Segmentation

The report on the global mining chemicals market covers segments such as application and type. On the basis of application, the global mining chemicals market is categorized into mineral processing, explosives & drilling, water & wastewater treatment, and others. On the basis of type, the global mining chemicals market is categorized into grinding aids, flocculants, frothers, collectors, and others.

Mining Chemicals Market: Competitive Landscape

The report provides profiles of the companies in the global mining chemicals market such as BASF SE, Akzo Nobel N.V., The Dow Chemical Company, Chevron Phillips Chemical Company, LP, Clariant, Solvay, Exxon Mobil Corporation, AECI Limited, Evonik Industries, and Kemira.

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the mining chemicals.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.