Mining Chemicals Market Worth 7.54 Billion USD by 2022
PUNE, India, June 5, 2017 /PRNewswire/ --
The report "Mining Chemicals Market by Product Type (Grinding Aids, Flocculants), Mineral Type (Base Metals, Non-Metallic Minerals), Application (Mineral Processing, Explosives & Drilling), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market size is estimated to grow from USD 6.02 Billion in 2017 to USD 7.54 Billion by 2022, at a CAGR of 4.60%.
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Browse 180 market data tables and 36 figures spread through 176 pages and in-depth TOC on "Mining Chemicals Market - Global Forecast to 2022"
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The mining chemicals market is witnessing considerable growth due to the rise in industrialization and infrastructural development. High demand for mining chemicals is primarily attributed to increasing complexity of ores and decreasing ore grades. The mining chemicals industry has come across new opportunities due to the growing stringent government regulations on wastewater pollution, coupled with the rising demand for quality minerals.
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The grinding aids in product held a considerably larger market share in the Mining chemicals market.
The grinding aids segment is projected to have a high growth rate during the forecast period. Grinding aids are extensively used for limestone grinding in cement production. Hence, major cement-producing countries such as China, India, and the U.S. are the key consumers of grinding aids. The efficient use of grinding aids minimizes energy costs associated with the grinding process.
Explosives & drilling segment is projected to grow at the highest rate during the forecast period, in terms of application
The mining chemicals market is segmented into mineral processing, explosives & drilling, water & wastewater treatment, and others. The explosives & drilling segment accounted for the largest share in 2016 and is also projected to grow at the highest CAGR over the next five years. The coal industry, one of the major users of explosives, is projected to fuel the growth of the explosives & drilling segment in the mining chemicals market.
Asia-Pacific mining chemicals market constituted the largest market share in the year 2016.
Countries such as China and India are expected to witness high growth in the mining chemicals market due to high foreign investments in the mining industry. The region has vast mineral resources of copper, zinc, aluminum, coal, limestone, and rare earth & precious metals. The rapid expansion of economies in the Asia-Pacific region is driving the growth of the mining chemicals market. The positive outlook of the economies is attracting huge investments from global mining companies.
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The major players in the Mining Chemicals Market include AkzoNobel N.V. (Netherlands), BASF SE (Germany), Clariant AG (Switzerland), Cytec Industries Inc. (U.S.), Kemira OYJ (Finland), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Orica Limited. (Australia), ArrMaz Products, L.P. (U.S.), and SNF Floreger (France).
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