The Global Mining Waste Management market is expected to reach $350.01 billion tons by 2026 growing at a CAGR of 8.1% from 2018 to 2026.
Mining activities produce large amount of mining waste during beneficiation, extraction, and processing of minerals. Extraction is the first phase of mining activity process. It comprises initial removal of the mineral ore from the earth's crust. The process is mainly done by the help of blasting. This creates large amount of wastes such as debris, soil, and other components that are unusable in the mining industry. This is one way in which the industry generates waste. The amount of waste produced is depends on size of the mine, once the ore is carried to the surface, it is further processed to extract minerals. This process also generates large quantum of waste due to the quantity of recoverable metal, which is generally a small fraction of the total mass even of a high grade ore.
Factors such as the growing demand for metals and minerals, and increasing environmental concerns are driving the market growth. Though, operational challenge for managing the waste is restraining the market growth. Moreover, increasing demand from power & energy sector, and growing transportation industry are the opportunities for the Mining Waste Management market.
Based on minerals, the coal segment is going to have a lucrative growth during the forecast period, due to its large demand from power and energy sectors. Power and energy sectors are now focusing on renewables for sustainable growth. However, coal still forms major part of the global energy generation pie.