Mining Chemicals Market

Mining Chemicals Market Size (2023-2028):

The Mining Chemicals Market was valued at US$ 9.90 billion in 2022 and is anticipated to increase at a CAGR of 5.8% from 2023-2028

3Mining chemicals are high-cost, harsh chemicals that are commonly utilized in mineral processing. To ensure sound recovery rates and provide optimal froth and bubble size, as well as depression specificity, they require precision metering. They help with filtration and dewatering, grade and recovery, efficiency, mineral selection, pumping, and slurry management, and minimizing collector dose and cost per ton. Frothers and collectors, flocculants, solvent extractants, rheology modifiers, and wet-and-dry grinding aids are some of the most regularly used mining chemicals.

Moreover, in the mining industry, there has been a growing interest in the chemical industry. Rising worldwide populations, rising per capita income, and rising disposable income are all having a beneficial impact on consumer goods demand, as well as transportation, energy, construction, and infrastructure activities in different parts of the world. As a result, the entire demand for mining materials for end products is impacted, as is the demand for chemicals in the mining sector.

Mining Chemicals Market Drivers and Restraints:

Mineral processing, explosives and drilling, water treatment, stockpiles, mine haul roads, surface mining, underground mining, and other industries are expected to drive demand for this product over the forecast period. Product demand is predicted to be fueled by increased mining activity and rising mineral consumption.

Over the next few years, the expanding market for metals like gold, copper, and phosphate is likely to boost demand for mining chemicals. Mining chemicals market growth is expected to be aided by a growing focus on water and wastewater treatment. The global mining chemical industry is being driven by an increase in the demand for water treatment. The demand for mining chemicals is rising due to an increase in mining projects in industries such as oil and gas.

Manufacturers have been concentrating on developing new goods for certain applications due to the fact that demand varies depending on the application. Mineral processing and wastewater treatment both employ mining chemicals. These groups are expected to be the market's largest end-users of mining chemicals. Furthermore, as mining activities increase, so does the demand for mining chemicals, moving the market forward. Furthermore, increased investment in the mining sector is expected to provide new prospects for market expansion throughout the forecast period. However, the long-term impacts of mining chemicals are expected to hamper the growth in the mining chemicals market over the projection period. Specific raw materials, such as cyanide, sulfuric acid, nitric acid, uranium, mercury, and lead, are considered toxic and harmful to the population and the environment under the Industrial Chemicals Act, limiting their use to specific locations.

MINING CHEMICALS MARKET REPORT COVERAGE:

Market Segmentation: 

By Type Of Ore

• Copper

• Iron

• Phosphate

• Others

Based on the type of ore, the iron ore segment dominates the global mining chemicals market. The steel industry's demand for iron ore with fewer impurities is likely to increase over the projection period, driving up demand for high-grade iron ore. Collectors are used to make super-concentrated iron ore for advanced metallurgical applications and to provide high-grade concentrations for iron ore pellet manufacture.

From 2022 - 2027, the phosphate segment is expected to increase at the second-fastest CAGR in the global mining chemicals market. Fertilizers, animal feed additions, and chemical compounds are all made from phosphate ore. There are several goods utilized in phosphate ore including coatings, flocculants, collectors, grinding aids, dust suppressants, defoamers, solvent extractants, antiscalants, biocides, lubricants, and frothers. In the flotation of phosphate ores, depressants are commonly utilized.

Mining Chemicals Market By Application:

• Mineral processing

• Explosives & Drilling

In 2021, the explosives and drilling segment had the biggest volume share, accounting for more than 35% of the total volume in the global mining chemicals market. Opencast mining's primary operations are drilling and blasting. Rock breakage can be divided into two categories: penetration and fragmentation. Drilling and cutting are utilized for rock penetration, whereas blasting is employed for fragmentation. Drilling is carried out to remove ore deposits and save operating costs.

Mining Chemicals Market By Product:

• Flocculants

• Grinding Aids

Based on the product, grinding aids will be a popular product segment for all ore types. Over the forecast term, the tendency is expected to continue. An increased focus on the recovery of high-quality minerals is likely to be a significant element in the segment's growth. The recovery of precious minerals requires the grinding and milling of ores. Xanthates, dithiophosphates, and thiocarbamates are examples of collectors used as mining chemicals. Collectors are commonly employed in the industry to aid in the recovery of copper at low pH levels.

Flocculants have also emerged as a key product segment, with a considerable CAGR forecast from 2022 - 2027. It is made up of polymers that are anionic, cationic, and nonionic. By bridging or charge neutralization, it absorbs particles and destabilizes them. Salts and metallic hydroxides are produced when anionic flocculants react with the positively charged suspension. Negatively charged suspensions react with cationic flocculants. Flocculants are widely used in enterprises and municipalities that deal with water treatment.

Mining Chemicals Market Regional Analysis: 

• North America

• Europe 

• Asia Pacific

• Latin America

• Middle East and Africa 

Impact of COVID-19 on the Mining Chemicals Market:

Primarily owing to the COVID-19 epidemic, the mining chemical industry is experiencing a supply shortfall from upstream suppliers, as lockdown has been applied in a number of nations. Due to a shortage of skilled workers, numerous projects are disrupted and further postponed. Chemical mining necessitates assembling a large labor force to operate and reside in confined places, which can increase COVID-19 exposure. In many companies, limited or poor production capacity might result in short-term cost increases. Companies are implementing digitalization in operational and industrial settings, such as remote work enablement and industrial automation, to use a smaller workforce as needed, which is expected to be an attractive market prospect.

Recent Developments in the Mining Chemicals Market:

• On September 27th, 2021, Clariant announced the opening of a new technical facility in Brazil dedicated solely to developing tailings management solutions to help the mining industry's efforts toward sustainability.

• On July 21st, 2020, BASF and IntelliSense.io announced a strategic alliance that brings together chemical, mineral processing, and digital capabilities. BASF Intelligent Mine, powered by IntelliSense.io, provides artificial intelligence solutions for ore beneficiation, allowing for remote 24/7 optimization throughout the mine-to-market value chain.

Mining Chemicals Market Key Players:

The companies covered in the report include:

• 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