The report forecasts the global mining chemicals market to grow at a CAGR of 7% during the period 2016-2020.
One of the major trends in the global mining chemicals market is the growing production of industry-specific chemicals. In terms of competitive offerings, two kinds of players exist in the global mining chemicals market. The first constitutes companies that offer generic products, and the second includes those that manufacture industry-specific ones. In recent years, many vendors have been increasingly focusing on offering specific chemicals to the global mining chemicals market.
Major players in the market, such as BASF, have been aligning their businesses to suit customer needs for specific industries. AECI is another example of a company that works on this model. Its branch AEL Mining Services primarily provides mining solutions for blasting operations. Clariant focuses on the provision of mining solutions for mineral processing, froth flotation, and blasting and drilling applications.
According to the report, growth in blasting and drilling application in coal mining will drive growth in the global mining chemicals market. The blasting and drilling application is very important in the mining industry, and involves drilling the rock and using explosive chemicals to break it down in smaller pieces. The coal mining industry is the largest end user of industrial explosives, with a market share of more than 40% globally. Coal is extensively used in the generation of electricity, in the steel industry for extraction of iron from iron ore, and in the cement industry. It accounted for 29% of world's energy source and approximately 41% of global electricity needs. The relative abundance of coal and its easy transportability and use makes it widely acceptable. The growing production of coal has had significant positive impact on the demand for blasting and drilling chemicals, and will continue to do so over the next five years.
- Chevron Phillips Chemical
- Cytec Solvay
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product type
PART 07: Segmentation by application
PART 08: Market segmentation by geography
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/sj9643/global_mining
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-mining-chemical-market---analysis-technologies--forecasts-to-2020---growing-number-of-industry-specific-products---research-and-markets-300359251.html
SOURCE Research and Markets