The global Mining Chemicals market size is expected to be worth around US$ 20.27 billion by 2030, according to a new report by Vision Research Reports.
The global Mining Chemicals market size was valued at US$ 10.89 billion in 2020 and is anticipated to grow at a CAGR of 6.8% during forecast period 2021 to 2030.
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Mining Chemicals Market (By Ore Type: Powder Gold, Iron, Copper, Phosphate; By Application: Mineral Processing, Explosives & Drilling, Water Treatment, Stockpiles, Mine Haul Roads, Surface Mining, Underground Mining) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Report Coverage
| Report Scope | Details |
| Market Size | US$ 20.27 Billion by 2030 |
| Growth Rate | CAGR of 6.8% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Ore type, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Ashland, Inc.; The Dow Chemical Company; Chevron; Phillips Chemical Company; BASF SE; Exxon Mobil Corp.; Cytec Solvay Group; Air Products and Chemicals, Inc.; Cheminova A/S; Akzo Nobel; NASACO; Beijing Hengju; Clariant AG; ArrMaz; Orica |
Growth Factors
The wide usage of this product in various sectors including mineral processing, explosives & drilling, water treatment, stockpiles, mine haul roads, surface mining, underground mining, and others is anticipated to drive its demand over the forecast period. Increasing mining activities, along with the growing demand for minerals, are expected to fuel the product demand. The growing market for metals, such as gold, copper, and phosphate, is expected to contribute to the demand for mining chemicals over the coming years. Rising emphasis on water & wastewater treatment is also projected to spur market growth.
By Ore Type Analysis
The iron ore segment accounted for the largest revenue share of 19.73% in 2020. The demand for high-grade iron ore is expected to rise over the forecast period on account of the increasing demand for iron ore with fewer impurities from the steel industry.
The phosphate segment is anticipated to grow at the second-fastest CAGR from 2021 to 2030. Phosphate ore is used to make fertilizers, animal feed supplements, and chemical compounds.
Grinding aids also emerged as a prominent product segment for the ore types in 2020. The trend is estimated to continue over the forecast period. Increasing focus on the recovery of high-quality minerals is likely to be an important factor supplementing the growth of the segment.
Flocculants also emerged as the prominent product segment and are expected to grow at a significant CAGR from 2021 to 2030. It consists of anionic, cationic, and nonionic polymers.
By Application Analysis
The explosives & drilling segment accounted for the largest volume share of more than 35% in 2020. Drilling and blasting are the major operations used by opencast mining. There are two types of rock breakage including rock penetration and fragmentation.
Mineral processing is expected to be the second-largest segment, in terms of revenue, by 2028. Growing demand for major commodities, including iron ore and copper, has driven the growth of the mineral processing market globally.
The water treatment segment is projected to register the second-fastest CAGR during the forecast period. Water treatment systems are utilized in various mineral processing plants including gold and copper.
By Regional Analysis
Asia Pacific region accounted for the largest volume share of more than 44% in 2020. The region is driven by the explosives & drilling and mineral processing sectors.
China has numerous mines, which are undergoing improvements, such as the development of existing sewage and wastewater treatment plants as well as setting up new sewage treatment plants.
Key Players
Market Segmentation
The study objectives of this report are:
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