Mining Chemicals Market to experience an impressive growth of 4.7% during 2018-2023
February 06, 2020
The upward trajectory of the mining chemicals market is projected to continue with a healthy CAGR of 4.7% during the period of 2018 to 2023. This represents an attractive growth opportunity in the entire ecosystem of the market. Organic growth in the mining sector, an extensive usage of mining chemicals for better yield, and a greater amount of chemicals required for processing of lower-grade ores are some of the major factors that are proliferating the growth of the mining chemicals market.
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Mining Chemicals Market Segment Insights:
By Type:
Based on the type as Frothers, Flocculants, Solvent Extractants, Collectors, Grinding Aids, and Others. Others include defoamers, corrosion inhibitors, antiscalants, dust suppressants, biocides, etc. The grinding aids segment is projected to remain the largest segment of the market during the forecast period. The segment is also likely to witness the highest growth during the same period, driven by its extensive usage for limestone grinding in cement production. China, India, and the USA are the major cement producers and so are the major grinding aids markets. Flocculants and collectors also hold considerable shares of the market and are expected to witness healthy growth rates during the same period.
By Mineral Type:
Based on the mineral type, the mining chemicals market is segmented as Base Metals, Non-Metallic Minerals, Rare Earth Metals, and Precious Metals. The base metals segment is expected to witness the highest growth during the forecast period, owing to increasing industrial and infrastructural development activities in the regions, such as Asia-Pacific, Latin America, and Africa.
By Application Type
Based on the application type as Blasting & Drilling, Mineral Processing, Water & Wastewater Treatment, and Others. The blasting & drilling segment is expected to remain the dominant segment of the mining chemicals market during the forecast period. The segment is also likely to witness the highest growth during the same period, driven by the coal industry. Also, depleting mineral reserves have led to deep-surface mining, which, in turn, is driving the demand for mining chemicals in the blasting & drilling segment.
By Region:
Asia-pacific is expected to remain the largest mining chemicals market during the forecast period of 2018 to 2023. The region is also likely to experience the highest growth during the same period. Rapid economic expansion along with growing industrial and infrastructural activities in the developing economies are driving the market in the Asia-Pacific region.
China and India are likely to remain the growth engines of the region’s market during the forecast period. China is the largest producer of mining chemicals worldwide. Despite the depleting growth of Chinese economy, China is likely to maintain its dominance in the global market; however, this trend is likely to adversely impact on the overall growth of the mining chemicals market.
Europe and North America are the other two major markets for mining chemicals. The USA is the largest market in North America, whereas, both, Western and Eastern Europe, are the major markets with almost a similar demand for mining chemicals.
Key Players:
The competition in the mining chemicals market can be better understood by beholding two distinct segments. In which, the first is commoditized and highly price-sensitive chemicals and another is highly-priced specialty chemicals. It is expected that the major global players will gradually move away from highly commoditized chemicals with the purpose to give a high focus on the specialty chemicals segment. The market is populated with both global as well as regional players. It is important to note that the growth strategies for global companies would be quite different than the regional players. For instance; the development of unrivalled technical service across regions, high R&D and innovation capabilities, and the formation of strategic alliances in order to quickly gain more share; whereas, the development of cost-competitive chemicals, good regional/local reach, and the ability to gain access to technology at a reasonable cost are some of the strategies for regional players.
The supply chain of this market comprises of raw material suppliers, mining chemical suppliers, and mining companies. The key players in the global mining chemicals market are BASF SE, Cytec Solvay Group, Clariant AG, Arkema, and Akzo Nobel N.V. It is also observed that distributors are gradually capturing more shares in the market due to decreasing commoditized chemical prices and their vast coverage in unpenetrated locations. Merger & acquisition, new product development, and forming strategic alliances are the key strategies adopted by the major players to gain a competitive edge in the market.
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- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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