The Mining Chemicals Market size was USD 11.99 Billion in 2022 and is expected to register a revenue CAGR of 6.1% during the forecast period. Market revenue growth can be attributed to factors such as rising demand for phase change materials in the construction industry, minimization of greenhouse emissions through strict regulations, advancements in use of bio-based Phase Change Materials (PCMs), and others. This is owing to the fact that advanced PCMs are employed as heat-absorbing material, soaking up enough energy to provide usable heat or cooling.
Because of the low quality of the ore bodies, the mining industry has faced many challenges. Increasing demand for gold has resulted in increased mining activity, which is expected to drive demand for mining chemicals over the forecast period. For example, for the extraction of gold from its ore, most players use cyanide.
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Top Companies: Kemira OYJ (Finland), Dow Chemical Company (US), ArrMaz Products, L.P. (US), AkzoNobel N.V. (Netherlands), BASF SE (Germany), Clariant International Limited (Switzerland), Cytec Industries Inc. (US), HuntsOrica Ltd. (Australia), man International LLC (US), SNF Floreger (France) and others
Further Key Finding from the Report Suggestion:
- The Mining Chemicals Market is forecasted to grow from USD 10.72 Billion in 2020 to USD 17.22 Billion by 2028, at a CAGR of 6.1%, during the forecast period. The market is primarily driven by the growing demand for minerals, increased emphasis on treatment of water and wastewater and increased mining activities.
- Based on type, the grinding acid market held the largest market share of over 47.6% in 2020. It is expected to reach USD 22.02 Billion in 2028, at a CAGR of 6.4% during the forecast period. Increasing focus on mineral recovery is likely to be an important factor supplementing the segment's growth. The recuperation of valuable minerals requires the grinding and milling of ores.
- The market for collectors is estimated to reach USD 8.72 Billion in 2028, at a CAGR of 6.8% during the forecast period. The xanthates, dithiophosphates, and thiocarbamates are the collectors used as mining chemicals. Collectors help with low pH value copper recovery. Copper, lead, soluble and oily are many collectors. Based on their chemical structure and group, these collectors are named. Xanthates are used in the treatment of ores such as sulfides of iron and penalties.
- The market for base metals is expected to reach USD 11.01 Billion, growing at the highest CAGR of 7.3% during the forecast period. Due to the growth in industrialization and infrastructure development in the Asia-Pacific, Middle East Africa, South America, and Eastern European regions, base metals will grow due to increased demand for these metals.
- Based on application, the market for drilling explosives segment held the largest market share of 36.3% in 2020 and is expected to reach USD 17.43 Billion in 2028, at a CAGR of 6.8% during the forecast period. Rising demand for deep-surface mining is expected to contribute significantly to the growth of this application segment in order to extract high-quality minerals.
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The global Mining Chemicals market is segmented into:
Type (Kilo Tons) (Revenue, USD Million; 2020-2028)
- Frothers
- Flocculants
- Collectors
- Solvent extractants
- Grinding aids
Mineral Type (Kilo Tons) (Revenue, USD Million; 2020-2028)
- Base metals
- Non-metallic minerals
- Precious metals
- Rare earth metals
Application (Kilo Tons) (Revenue, USD Million; 2020-2028)
- Mineral processing
- Explosives drilling
- Water wastewater treatment
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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