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

Report ID: SQMIG15E2129 | Region: Global | Published Date: July, 2024
Pages: 242 | Tables: 65 | Figures: 75

Mining Chemicals Market Dynamics

Drivers

Growing Demand for Minerals and Ores

The demand for minerals and ores is increasing due to the growing population and industrialization. This is driving the growth of the mining industry and hence the mining chemicals market.

Restraints

Fluctuating Prices of Raw Materials

The prices of raw materials used in mining chemicals, such as crude oil and natural gas, are highly volatile. This can impact the profitability of mining chemical manufacturers and hence the growth of the market.

Mining Chemicals Market Report Snapshots

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Global Mining Chemicals Market size was valued at USD 10.01 billion in 2021 and is poised to grow from USD 10.71 billion in 2022 to USD 18.13 billion by 2030, growing at a CAGR of 6.8% in the forecast period (2023-2030).

The market is particularly competitive as a result of the existence of both local companies and foreign corporations engaged in ongoing R&D. Because of their extensive product lines that cover all applications and their widespread brand recognition, companies like Ashland, Sasol, BASF SE, and Dow dominate the industry. These companies dominate the worldwide market because of their extensive presence along the whole value chain. 'BASF SE', 'Clariant AG', 'AkzoNobel N.V.', 'Cytec Solvay Group', 'Dow Inc.', 'ExxonMobil Chemical Company Inc.', 'Huntsman Corporation', 'Orica Limited', 'Ashland Global Specialty Chemicals Inc.', 'SNF Group', 'Chevron Phillips Chemical Company LLC', 'Kemira Oyj', 'Evonik Industries AG', 'Nalco Champion (Ecolab Inc.)', 'Air Products and Chemicals Inc.', 'The Lubrizol Corporation', 'The Chemours Company', 'Croda International Plc', 'Solenis LLC', 'AECI Limited'

The demand for minerals and ores is increasing due to the growing population and industrialization. This is driving the growth of the mining industry and hence the mining chemicals market.

The demand for specialty chemicals, such as collectors, frothers, and flocculants, is increasing in the mining industry. These chemicals are used to enhance the efficiency and effectiveness of mineral processing operations, driving the growth of the mining chemicals market.

The Asia Pacific region dominated the market in 2021 with a 36% revenue share. The reason for this high percentage is the growth of mineral processing industries in countries like China, India, and others, which is anticipated to increase the use of the product in the region over the course of the projection year. In addition, because of its dominance in the production of gold, coal, and other earth minerals, China has the largest market share in the Asia Pacific area. China is constructing new sewage treatment facilities as well as sewage and wastewater treatment facilities as part of the rehabilitation of several mines.

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

Mining Chemicals Market Dynamics

Mining Chemicals Market Report Snapshots

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