The global mining chemicals market is expected to reach USD 38.01 billion by 2024, according to a new report by Grand View Research, Inc. Positive mining industry outlook in India, China, Australia, Peru, and Chile is expected to drive the market over the forecast period. The presence of abundant raw materials including rare earth metals in China, Russia, Australia, Thailand, and the U.S. is expected to facilitate exploration activities, thus propelling demand for the product.
Australia has the third largest rare earth metal reserves in the world. In Russia, companies have been investing increasingly in the development of new extraction techniques to recover uranium. These factors are likely to have a positive impact on growth. Decrease in ore quality of zinc, lead, copper, and nickel is expected to promote utilization of sophisticated technologies requiring frothers, flocculants, grinding aids, and solvent extractants.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/mining-chemicals-market
Further key findings from the report suggest:
·
Grinding aids dominated the global market
accounting for over 40.0% of the global market share in 2015. Grinding aids
help in improvement of the extraction process and requires low maintenance. In
addition, utilization of grinding aids for the mining process reduces pollution
and other harmful effects on the environment. Increasing concerns regarding the
cost of grinding the minerals are expected to propel utilization of grinding
aids ove r the forecast period.
·
Explosives & Drilling application dominated
the market in 2015 and is projected to be the fastest growing segment owing to
rapid depletion of shallow surface reserves which has led to the requirement of
deep surface mining activities. Moreover, mining chemicals are also utilized
for the efficient breaking of rocks during mining, thereby reducing cost and
saving time during mineral processing.
·
Asia Pacific accounted for over 40.0% market
share in 2015 and is projected to witness the fastest growth on account of the
rapid industrial development and increasing focus on sustainability. Market
players have been investing increasingly in the mining industry in the region
which is expected to have a positive impact on demand for mining chemicals.
·
In June 2013, BASF established its new R&D
laboratory in Johannesburg, to develop new mining chemicals and product
differentiation. High raw material cost coupled with high logistic cost is
expected to restrain entry of new players in the industry. High capital cost is
also expected to be a major restraint for the manufacturers. In addition,
stringent government regulations to reduce environmental pollution are expected
to have an adverse impact on the market players over the next eight years.
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand View Research has segmented the global mining chemicals market on the basis of product, application, and region:
Global Mining Chemicals Product Outlook (Revenue, USD Million, 2013 - 2024)
·
Frothers
·
Flocculants
·
Collectors
·
Solvent Extractants
·
Grinding Aids
·
Others
Global Mining Chemicals Application Outlook (Revenue, USD Million,
2013 - 2024)
·
Mineral Processing
·
Explosives & Drilling
·
Water & Wastewater Treatment
·
Others
Global Mining Chemicals Regional Outlook (Revenue, USD Million, 2013
- 2024)
·
North America
o
U.S.
·
Europe
o
Russia
·
Asia Pacific
o
China
·
Latin America
o
Brazil
·
Middle East & Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-mining-chemicals-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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