Mining Chemicals Market

Product Overview:

Mining Chemicals Market size was USD 10.14 billion in 2021 and projected to grow from USD 11.5 billion in 2023 to USD 20.6 billion by 2032, exhibiting a CAGR of 6.7% during the forecast period.

Mining chemicals are the chemicals used in various mining processes at different stages and these compounds aid in enhancing the efficiency and production of mining activities by generating an effortless environment thereby boosting the capacity of production. Mining chemicals are corrosive in nature and are very expensive. Mining chemicals used involve flocculants, frothers and collectors, rheology modifiers, solvent extractants, and wet- and dry-grinding aids. Mining chemicals have a vital in mineral ores processing. Metal mining processes need mining chemicals to process the respective ores.

Market Highlights

Mining Chemicals Market is expected to project a CAGR of 6.7% during the forecast period, 2022-2032

Mining Chemicals Market is expected to reach USD 20.6 billion, growing at a CAGR of 6.7% during forecast period owing to the increasing demand for specialized chemicals like defoamers, biocides, corrosion inhibitors, dust suppressants etc. which is expected to boost the market growth. The adoption of price-cutting programs in mining field and inclusion of newer technologies for enhanced quality processes and production are an anticipated to drive the demand for the growth of the market. Increasing necessity to manage emissions of greenhouse gas may boost the mining chemical market growth.

Mining Chemicals Market Segmentation:

Rare Earth Metals segment is expected to grow with high CAGR during the forecast period

Mining Chemicals Market is classified based on the Mineral Type into Precious Metals, Base Metals, Non-Metallic Minerals, Rare Earth Metals. Base Metals segment dominated the market in 2021 and it involves non-ferrous elements excluding precious metals owing to the growing demand for base metals from various industries like building, electrical and electronics and automotive. Rare earth metals segment is expected to dominate the market in the forecast period owing to the increasing usage of communication networks and electronic gadgets which is expected to boost the growth of the segment in the market.

Grinding Aids segment is expected to grow during the forecast period

Mining Chemicals Market is classified based on the Product Type into Solvent Extractants, Grinding Aids, Flocculants, Frothers, Collector. Solvent Extractants segment dominated the market in 2021 as they aid in concentrating and purifying metals like copper, molybdenum etc. Solvent Extractants are useful for increasing effectiveness of kaolin treatments and enhances quality of organic phases. Grinding Aids segment is expected to dominate the market in the forecast period owing to the presence of high demand for cement in building sector and rising acceptance of organic grinding aids.

Market Dynamics:   

Growth Drivers

Increasing Mining Related Projects is Expected to Boost the Growth of the Market

The activities related to mining are increasing due to the increasing demand for mining chemicals globally which is anticipated to boost the market growth over the forecast period. The demand for mining and mineral processing activities in some regions is increasing to produce copper, iron ore, and ubiquitous gold etc. and is creating demand for the mining chemicals market, thereby driving the growth of the market. The growing mining activities from certain regions like Peru and Chile are also creating demand and is expected to drive the growth of the mining chemicals market over the forecasted period.

Increasing Research and Development Activities is Expected to Boost the Growth of the Market

There are certain expansions being involved in mining industries owing to the huge foreign investments done by private organizations for carrying out research activities across the region which is anticipated to create demand for the growth of the market over the forecast period. Several research and development activities are being done due to investments by key market players for expanding the production line which may drive the market growth. The expansion of end-use industries along with the increasing industrialization, urbanization and growing population are expected to boost the growth of the mining chemicals market during the forecast period.

Restraint

Stringent Regulations May Restrain the Growth of the Market

The mining chemical market includes involvement of several strict regulatory norms applied by the governments, which are to be followed by industries to enhance their manufacturing and production processes which are expected to restrain the growth of the market.

Recent Developments:

• In September 2021, Clariant in Brazil initiated a new technical facility exclusive to innovating solutions for tailings management which is expected to develop mining chemicals and technologies to aid the industry’s efforts in Brazil’s mining hub.
•  In March 2020, Zijin Mining declared the purchase of all Continental Gold securities in a cash transaction, obtaining 100 % equity in Colombia's Buriticá Gold Mine.

Mining Chemicals Market

Key Players Covered:

• BASF SE
• Clariant AG
• AECI
• Solvay
• CTC Mining (Tennant Chemicals Company Limited)
• Betachem (Pty) Ltd
• Arkema
• SUEZ
• 3M
• FMC Corporation
• Ecolab
• Sasol
• NASACO
• Kemira
• Orica Limited
• SNF
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Mining Chemicals Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia-Pacific dominated in the mining chemicals market in 2021 and is expected to continue its dominance over the forecast period owing to the increasing construction activities in countries of this region along with the increasing consumption of minerals in residential infrastructure construction which is expected to boost the market growth.

Impact of Covid-19 on Mining Chemicals Market

The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed strict travel restrictions and lockdown measures to control the spread of virus. Pandemic had disrupted the global economy. Several mining related projects were delayed due to the unavailability of labour which had negatively impacted the market growth. Covid-19 had a negative impact on the growth of the mining chemicals market.

Mining Chemicals Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Mining Chemicals Market Scope and Segments:

Frequently Asked Questions (FAQ):