The latest market report published by Credence Research, Inc. “Mining Chemicals Market, By Product Type (Frothers, Flocculants, Collectors, Solvent Extractants, Grinding Aids and Others), By Application (Mineral Processing, Explosives & Drilling, Water & Wastewater Treatment and Others) and By Region (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global mining chemicals market was valued at US$ 23.09 Bn in 2016, and is expected to each US$ 40.40 Bn by 2025, expanding at a CAGR of 6.9% from 2017 to 2025.
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The global market for mining floating chemicals is gaining momentum with increasing consumption of metals from various end use industries such as oil & gas and construction among others. Moreover, increasing investment in mining projects in emerging economies with high mineral reserves such as Asia Pacific, Latin America and Middle East and Africa is propelling the market growth.
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However, logistics plays a vital role in the prices of floating mining chemicals and accounts for over 20% of the overall cost, especially for overseas shipments (export). The suppliers have to frequently evaluate all possibilities of transportation that not only offers the best economy of scale but also deliver products meeting the customer’s requirements. Moreover, environmental regulations are becoming more stringent pertaining to water contamination.
The industry is looking to the manufacturers to develop chemicals that can meet the customers’ needs in treating difficult minerals and at the same time allow them to address the environments and resources challenges.
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Profit margins are very tight in the mining chemical market therefore, over the years various multinationals has stopped serving the market. Only handful suppliers offer the entire range of mining chemicals. The market is highly fragmented with presence of various players which led to high competition in the market. The competition in the market is projected to further intensify owing to growth of the market, entry of the private labels and increased mergers and acquisitions activities by multinationals among others.
– Emerging economies with high mineral reserves offers huge growth potential
– Lower Mineral Concentration and Increased Complexity of Ores
– Increasing Importance of Water Management Activities
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