MarketsandMarkets projects that the mining chemicals market size will grow from USD 6.03 Billion in 2017 to USD 7.54 Billion by 2022, at a compound annual growth rate (CAGR) of 4.60% from 2017 to 2022. A wide variety of general and specialty chemicals are utilized for mining. Increase in complexity of ores is the major driver boosting the demand for mining chemicals.
Countries such as China and India are expected to witness high growth in the mining chemicals market due to high foreign investments in the mining industry. The region has vast mineral resources of copper, zinc, aluminum, coal, limestone, and rare earth & precious metals. The rapid expansion of economies in the Asia-Pacific region is driving the growth of the mining chemicals market. The positive outlook of the economies is attracting huge investments from global mining companies.
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The key players in the Mining Chemicals market are AkzoNobel N.V. (The Netherlands), BASF SE (Germany), Clariant International Ltd. (Switzerland), Cytec Industries Inc. (U.S.), Kemira OYJ (Finland), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Orica Limited. (Australia), ArrMaz Products, L.P. (U.S.), and SNF Floerger (France).These players have adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, partnerships & agreements, investments & divestures, and new product & technology launches are some of the major strategies adopted by the market players to achieve growth in the mining chemicals market.
The year 2016 witnessed several mergers and acquisitions in the mining chemicals market by key players in order to expand their geographical footprint and improve the company’s distribution network through the means of organic and inorganic growth strategies. In September 2016, Amcor acquired Aluprint’s (U.S.) mining chemicals plant in Monterrey, Mexico worth USD 40 million.
Clariant (Switzerland) acquired Chemical & Mining Services, Pty. Ltd (Australia), a provider of specialty chemicals and technical services to the mining industry clients located primarily in Australia. This acquisition was made with an objective to improve the company’s product portfolio, customer base, and technical expertise.
BASF SE (Germany), one of the top players in the mining chemicals industry aims to maintain its position in the market through expansions. In the last few years, BASF SE has entered into various significant supply agreements, acquired companies, expanded production facilities, and launched new products to expand its presence in the mining chemicals market. In September 2014, the company announced the increase in the production capacity of the solvent extractants range LIX at its plant in Ireland. It would help the company to meet the increase in demand.
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