Africa Mining Chemicals Market Size, Share, Growth Analysis, By Ore Type(Powder Gold, Iron Ore, Copper, Phosphate), By Application(Mineral Processing, Explosives & Drilling, Water Treatment, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIR15A2436 | Region: Regional | Published Date: February, 2024
Pages: 157 | Tables: 69 | Figures: 75

Africa Mining Chemicals Market Dynamics

Drivers

Increasing Demand for Metals and Minerals to Bolster Market Growth

The rising demand for metals and minerals from various industries, such as construction, automotive, and electronics, is driving the growth of the African mining chemicals market.

Restraints

Lack of Infrastructure to Hinder Market Growth

The lack of adequate infrastructure, such as transportation and power, can hinder the growth of the African mining industry, which in turn can impact the growth of the mining chemicals market.

Africa Mining Chemicals Market Report Snapshots

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Africa Mining Chemicals Market size was valued at USD 622.87 million in 2021 and is poised to grow from USD 657.75 million in 2022 to USD 1017.12 million by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

The African mining chemical industry is highly competitive as a result of the existence of various international corporations that are actively involved in R&D as well as local businesses. Due to their extensive product portfolios targeted on specific applications and great brand awareness, businesses like BASF SE, Ashland, Sasol, and Dow dominate the market. 'AECI Mining Chemicals', 'BASF', 'Clariant', ' Cytec Solvay Group ', ' Chevron Phillips Chemical Company ', ' Sasol Limited ', ' The Dow Chemical Company ', ' Kemira Oyj ', ' SNF Floerger ', ' Cheminova A/S ', ' Ashland Inc. ', ' Orica Limited ', ' CyPlus GmbH ', ' Huntsman Corporation ', ' Nalco Holding Company ', ' PQ Corporation ', ' Nasaco International LLC ', ' Akzo Nobel N.V. ', ' ArrMaz ', ' Sinochem '

The rising demand for metals and minerals from various industries, such as construction, automotive, and electronics, is driving the growth of the African mining chemicals market.

There is a growing demand for sustainable and eco-friendly mining chemicals that have a reduced environmental impact. As a result, manufacturers are developing new sustainable mining chemicals and enhancing the sustainability of their existing products.

In 2021, South Africa had a revenue share of about 24.0%, dominating the market. This is due to the nation's significant mining operations and its larger mineral resource base, which includes minerals like gold, diamonds, platinum, iron ore, coal, titanium, vanadium, chrome, and some other less valued ones. Around 61% of the overall revenue in the mining sector came from sources outside of the country in 2020. According to Trading Economics, South Africa will sell steel and iron ore to China in 2021 for a total of approximately USD 962.56 million. The increased demand for iron ore is projected to boost South Africa's need for mining chemicals.

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Africa Mining Chemicals Market Size, Share, Growth Analysis, By Ore Type(Powder Gold, Iron Ore, Copper, Phosphate), By Application(Mineral Processing, Explosives & Drilling, Water Treatment, Others), By Region - Industry Forecast 2024-2031

Africa Mining Chemicals Market Dynamics

Africa Mining Chemicals Market Report Snapshots

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