Mining Chemicals Market to Develop at CAGR of 4.3% During Forecast Period, Notes TMR Study

ALBANY, N.Y., March 8, 2022 /PRNewswire/ -- The global mining chemicals market is estimated to attain valuation of US$ 36 Bn by 2027. The global mining chemicals market is expected to rise at a CAGR of 4.3% during forecast period, from 2019 and 2027. Mining chemicals are those chemicals that improve the efficiency and usefulness of mining techniques. Flocculants, surfactants, pH modifiers, chelants, dissolvable, extractants, scale inhibitors, authorities, frothers, consumption inhibitors, disperants, surfactants, dewatering and crushing guides are amongst the several types of mining chemicals.

One of the primary factors likely to drive the global mining chemicals market is the increase in the number of mining projects being undertaken throughout the world. The rise in demand for minerals due to declining ore grades across various mines, as well as increasing demand for mining chemicals used in water treatment to drive market growth. Different laws are passed by various countries to regulate the effect of mining on the environment, has accelerated market expansion. The increasing usage of these chemicals in various industry applications such as explosives, mineral handling, and rising water and wastewater treatment is expected to bolster demand in the market. Besides, the growing demand for high purity minerals is projected to have a favorable influence on the market in the future years.

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The global mining chemicals market has grown significantly over the years, spurred by growing demands from a variety of end-use sectors such as mineral processing applications and water and wastewater treatment. Notably, the widespread use of mining chemicals in wastewater treatment is likely to provide significant revenue to the mining chemicals market in the recent years. The need for grinding aids has increased in a variety of industries, which is likely to boost in the usage of mining chemicals.

Key Findings of Market Report

• In 2018, water and wastewater treatment segment held around 40% of the market share last year. The constantly changing landscape of environmental legislation relating to industrial effluents and discharge is a primary driver for the rapid growth of operational activities in wastewater treatment. Government authorities in industrialized countries maintain a careful eye on waste and water recycling to protect the safety of people and the environment in general. This is a crucial trend that is likely to boost the demand for a variety of items in the global mining chemicals market.

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• Asia Pacific dominated the market in 2018, and is expected to continue to do so during the forecast period. The high speed of industrialization is fueling development, resulting in widespread utilization of mining chemicals in water and wastewater treatment in industrial settings. The significant need for chemicals in the packaging industry, particularly in the creation of flexible packaging, has also contributed to the expansion of the regional market. In terms of growth, China's abundance of chemical reserves renders the country very promising.

Global Mining Chemicals Market: Growth Drivers

• Increase in demand for platinum, copper, and gold, copper from various applications is expected to boost interest in mining activities, which is further projected to drive the demand for mining chemicals during the forecast period

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• Mining chemicals are widely used in the waste and water treatment industry. Due to numerous rules implemented by various countries to restrict the influence of mining on the environment, mining chemicals used for water treatment have become increasingly popular.

Global Mining Chemicals Market: Key Players

Some of the key market players are

• Phillips Chemical Company LP
• BASF SE
• Ashland Inc.Chevron Corporation
• The Dow Chemical Company

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Global Mining Chemicals Market: Segmentation

Product

• Frothers
• Flocculants
• Collectors
• Solvent Extractants
• Grinding Aids
• Others

Application

• Mineral Processing
• Explosives and Drilling
• Water and Wastewater Treatment
• Others

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