Mining chemicals are the chemicals, comprise a range of mineral processing specialty chemicals and reagents. It is used for processing of minerals or metal ores extracted from natural deposits by mining. The mining industry involves high amounts of chemicals to extract & process resources, including various concentrations and refining processes. The chemicals are used in various mining phases, for instance, ore extraction, benefaction, and tailings disposal.
According to study, “Global Mining Chemicals Market Size study, by Type (Flocculants, Frothers, Solvent extractants and grinding aids) Mineral Type (Base Metals, Non-metallic minerals, Precious metals, and rare earth metals) Application (explosives & drilling, mineral processing, water, and wastewater treatment and others) and Regional Forecasts 2018-2025” the key companies operating in the global mining chemicals market are The DOW Chemical Company, Orica Limited, BASF SE, Cytec Industries Inc., Clariant AG, Arrmaz Products L.P., KemiraOyj, Chevron Phillips Chemical Company, LP, Huntsman Corporation, SnfFloergerSas.
Based on product type, mining chemicals market is segmented into collectors, grinding aids, frothers, solvent extractants, flocculants (cationic, anionic, and nonionic polymers) and others (defoamers and modifiers). Grinding aids segment holds the major share in the market owing to the rise in focus on the recovery of high-quality minerals. Frothers segment is anticipated to exhibit higher CAGR due to growth in demand for better quality of minerals during the forecast period. Based on mineral type, market is segmented into precious metals, base metals, non-metallic minerals, and rare earth metals. Based on raw material, the market is segmented into cyanide, nitric acid, uranium, sulfuric acid, mercury, and lead. Based on application, the market is segmented into water wastewater treatment, mineral processing, explosives & drilling and others (analysis and exploration). In addition, based on end-use industry, the market is segmented into chemical, automotive, metallurgical, electronics, infrastructure, consumer goods and others.
The mining chemicals market is driven by a rise in demand for specialty chemicals in mining processes, followed by an increase in mining activities, a rise in infrastructural development, increase in demand for steel, rapid industrialization, the surge in demand for high purity minerals, increase in technological advancements, growth in mining exploration spending, steady rise in metal prices, growth in the implementation of stringent government rules or policies for tailings management and rise in occurrence of complex & low quality ores. Moreover, growth in new mining projects in various countries is akey opportunity for the market. Furthermore, advent Of Methyl Isobutyl Carbinol (MIBC) as a frother generally for mineral flotation is a major trend for the market.
Based on geography, the Asian-Pacific region dominates the mining chemicals market owing to a rise in investments on mining exploration, an increase in economic conditions and growth in a number of mining activities in the region. The European and North-American regions are estimated to witness a higher growth rate due to the high demand for mining chemicals for limestone grinding over the forecast period. In upcoming years, it is predicted that the future of the market will be optimistic as a result of the rise in the availability of skilled workers at low wages during the forecast period. It is expected that the market will be reached at the US $8.6 billion by 2025.
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Ankur Gupta, Head Marketing & Communications