TMR Analyzes Impact of Outbreak of COVID-19 on Mining Chemicals Market
Key Highlights:
- In terms of value, the global mining chemicals market was stood around US$ 25 Bn in 2018 and is anticipated to expand at a CAGR of more than 4% from 2019 to 2027
- Mining chemicals used as grinding aids accounted for the largest share of the mining chemicals market in terms of volume with more than 29.0% share of total volume consumed in 2018. Mining chemicals used for collectors was the second largest product segment of mining chemicals followed by flocculants, frothers, solvent extractants and others.
- The mining chemicals industry exhibits a moderate degree of forward integration as few of mining chemicals producers are also engaged in downstream activities. This forward integration gives these participants a distinctive competitive advantage in terms of better customer retention and market demand
- Based on application, water & wastewater treatment was the major application of mining chemicals and accounted for more than 35% of the total mining chemicals market in 2018.It is projected to exhibit significant growth rate during the forecast period 2019 to 2027
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Growing Environmental Concerns and Complex Logistics Involved May Hamper Overall Demand of Mining Chemicals
- Various harmful chemicals are released in the environment after minerals have been extracted and processed. Large volumes of tailings are produced when minerals are extracted from mines. These are usually deposited in mined-out areas or man-made tailings ponds. Tailings management has become an essential activity considering the current global emphasis on environment protection
- Furthermore, transportation and logistics is one of the major price drivers of mining chemicals. It accounts for almost 20% of the total overall cost of mining chemicals. Often, mines and producers of mining chemicals are located continents apart. This is another factor that adds to the intricacy of transportation and logistics of mining chemicals. Hence, suppliers need to constantly evaluate all the logistic possibilities in order to provide the best economies of scale and deliver products on time and in exact quantity. This adds increasing pressure on manufacturers of mining chemicals to provide mining chemicals efficiently
- These are some of the major factors which may hamper the overall demand for mining chemicals
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Global Mining Chemicals Market -Key Developments
- Companies are investing on R&D activities to provide less harmful mining chemicals. Clean Earth Technologies has successfully validated cost effective process to replace cyanide with safer, less hazardous chemical reagent thiosulphate. This inorganic compound helps dissolve fine gold out of ores into a solution, which can then be recovered through further processing. This new technology will be suitable for Greenfield mines locations where cyanide cannot be used or is banned. Also, it will be suitable for existing mines that are looking to upgrade and transition to new technology
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Global Mining Chemicals Market: Competition Landscape
- The global mining chemicals market is highly fragmented with presence of large numbers of unorganized players especially in Asia Pacific. Companies are operating at global level through widespread distribution channel. Some of the major players include BASF SE, The Dow Chemical Company, Chevron Phillips Chemical Company LP, Ashland Inc. etc..
Mining Chemicals Market: Product Type
- Frothers
- Flocculants
- Collectors
- Solvent Extractants
- Grinding Aids
- Others
Mining Chemicals Market: Application
- Mineral Processing
- Explosives and Drilling
- Water and Wastewater Treatment
- Others
Mining Chemicals Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
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