Which Segment Accounted For The Largest Mining Chemicals Market Share?
Mining chemicals are widely used across mining industries for various process such as wastewater treatment, minerals processes, and drilling water. They are used to extract metal such as copper, platinum, and gold. Mining chemicals are broadly classified into collectors, frothers, grinding aids, flocculants, and solvent extractants.
The global mining chemicals market is estimated to account for US$ 28,130.8 Mn in terms of value and 10,106.4 Kilo Tons in terms of volume by the end of 2019.
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Drivers:
Growing production of cement is creating demand for grinding aids. Grinding aids are extensively used in the manufacturing of limestone . Growth in the construction industry across the developing region is fueling demand for cement. Grinding aids reduce the cost of the energy associated with the grinding process. Hence, the increase in cement production is projected to propel the market growth of the mining chemicals.
Market Restraints
Transportation and logistics of mining chemicals is one of the crucial factor hindering the market growth. The cost of transportation and logistic of mining chemicals is little high which create pressure on the manufacturer of mining chemical to deliver products efficiently and in proper condition.
Rising demand for gold around the globe is projected to offer lucrative opportunities over the forecast period. Growth in the mining and smelting industries across Nigeria and Indonesia are again expected to foster the market growth of the mining chemicals. Moreover, expansion of the chemical industry across developing regions is further anticipated to augment the market growth of the mining chemicals over the forecast period.
Market Trends/Key Takeaways
Rising distribution agreement among key manufacturers for expanding the supply chain process is one of the key trends in the market. For instance, in May 2019, BASF entered an exclusive agreement with Quadra Chemicals Ltd., to present its mining solutions portfolio of products in Canada and Alaska. The goal of this agreement is to streamline the supply of the mining chemicals efficiently to current and future customers.
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Few Recent Developments
In May 2019, BASF entered into an exclusive agreement with Quadra Chemicals Ltd., to present its mining solutions portfolio of products in Canada and Alaska. The goal of this agreement is to streamline the supply of mining chemicals efficiently to current and future customers.
Few Recent Developments
In September 2019, CPS Performance Materials announced that it has acquired GEO Specialty Chemicals. GEO is a diverse supplier of specialty chemicals and materials to the coatings, adhesives, medical, water treatment, and construction markets.
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