The latest research study released by Transparency Market Research on “Mining Chemicals Market Forecast to 2023-2031 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Mining Chemicals industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
Mining Chemicals market is estimated to attain a valuation of US$ 19.5 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 5.9% during the forecast period, 2023-2031
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Increase in mining operations throughout the world has emerged as a prominent factor driving the mining chemicals market demand. Decline in ore grades at various mines has led to a rise in need for specialty minerals such as mining chemicals. Mining chemicals are also largely employed in the water treatment sector. These compounds are extensively used in applications such as mineral processing, explosives, and water and wastewater treatment. Rise in demand for high purity minerals is projected to favorably impact market progress in the near future.
Prominent market participants are focusing on novel techniques of producing mining chemicals that are also environmentally neutral. Tightening regulatory standards have augmented the demand for eco-friendly compounds. This is one of the key mining chemicals market trends that is likely to continue throughout the forecast period.
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Increase in Usage of Mining Chemicals in Water and Wastewater Treatment Processes
Water conservation and sustainability are becoming increasingly crucial in mining operations. Some of the key applications of mining chemicals involve cleaning and purifying wastewater, and aiding water reuse and recycling. This allows water to be reused for a number of purposes within mining operations, thus reducing the strain on freshwater resources.
Mining chemicals market analysis reveals the regular release of heavy metals such as lead, copper, and zinc into wastewater during the purification process. Mining chemicals such as chelating agents and ion-exchange resins can help remove and recover these metals from wastewater. These metals may then be recycled or disposed of properly, thus ensuring environmental compliance.
Competitor Analysis:
The significant players operating in the global Mining Chemicals market are
Ashland Inc., BASE SE, The Dow Chemical Company, Chevron Phillips Chemical, Clariant AG, Cytec Industries, Nalco Company, Air Products and Chemicals, Inc., Nouryon (formerly AkzoNobel Specialty Chemicals), Cheminova A/S, SNF FloMin, Beijing Hengju, and NASACO International
Market Segmentation –
- Product
- Frothers
- Flocculants
- Collectors
- Solvent Extractants
- Grinding Aids
- Others (Modifiers, Defoamers etc.)
- Application
- Mineral Processing
- Explosives and Drilling
- Water and Wastewater Treatment
- Others (Exploration, Analysis etc.)
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Key Developments
- In May 2023, BASF SE announced that it had developed a new flotation agent that is expected to improve the recovery of gold from ore. The new flotation agent is anticipated to be commercially available in 2024.
- In September 2022, Chevron Phillips Chemical announced that it had started a new plant in China to produce flotation agents. The plant is projected to produce 100,000 tons of flotation agents per year.
- In July 2022, BASF SE announced its plans to invest €300 Mn in expansion of its production capacity of flotation agents in Germany. The expansion is likely to be completed in 2024.
This Report lets you identify the opportunities in Mining Chemicals Market by means of a region:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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