Mining Chemicals Industry Valued At USD 12.3 Billion In 2022, Forecast To Hit USD 19.5 Billion By 2031 TMR

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Mining Chemicals Market

Expansion of the global mining chemicals market is being fueled by rise in waste and water treatment industrial activities

WILMINGTON, DE, UNITED STATES, December 17, 2024 /EINPresswire / -- The global mining chemicals industry was valued at US$ 12.3 billion in 2022 and is projected to grow at a CAGR of 5.9% from 2023 to 2031, reaching US$ 19.5 billion by the end of 2031. This growth is driven by increasing demand for mining activities, advancements in mineral processing technologies, and rising adoption of chemicals to enhance extraction efficiency.

Increase in mining operations throughout the world has emerged as a prominent factor driving the mining chemicals market demand. Decline in ore grades at various mines has led to a rise in need for specialty minerals such as mining chemicals. Mining chemicals are also largely employed in the water treatment sector. These compounds are extensively used in applications such as mineral processing, explosives, and water and wastewater treatment. Rise in demand for high purity minerals is projected to favorably impact market progress in the near future.

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The global mining chemicals market has grown significantly over the years, spurred by growing demands from a variety of end-use sectors such as mineral processing applications and water and wastewater treatment. Notably, the widespread use of mining chemicals in wastewater treatment is likely to provide significant revenue to the mining chemicals market in the recent years. The need for grinding aids has increased in a variety of industries, which is likely to boost in the usage of mining chemicals.

Key Findings of Market Report

.In 2018, water and wastewater treatment segment held around 40% of the market share last year. The constantly changing landscape of environmental legislation relating to industrial effluents and discharge is a primary driver for the rapid growth of operational activities in wastewater treatment. Government authorities in industrialized countries maintain a careful eye on waste and water recycling to protect the safety of people and the environment in general. This is a crucial trend that is likely to boost the demand for a variety of items in the global mining chemicals market.

.Asia Pacific dominated the market in 2018, and is expected to continue to do so during the forecast period. The high speed of industrialization is fueling development, resulting in widespread utilization of mining chemicals in water and wastewater treatment in industrial settings. The significant need for chemicals in the packaging industry, particularly in the creation of flexible packaging, has also contributed to the expansion of the regional market. In terms of growth, China's abundance of chemical reserves renders the country very promising.

Global Mining Chemicals Market: Growth Drivers

.Increase in demand for platinum, copper, and gold, copper from various applications is expected to boost interest in mining activities, which is further projected to drive the demand for mining chemicals during the forecast period

.Mining chemicals are widely used in the waste and water treatment industry. Due to numerous rules implemented by various countries to restrict the influence of mining on the environment, mining chemicals used for water treatment have become increasingly popular.

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Global Mining Chemicals Market: Key Players

Some of the key market players are

.Phillips Chemical Company LP
.BASF SE
.Ashland Inc. Chevron Corporation
.The Dow Chemical Company

Global Mining Chemicals Market: Segmentation

Product

.Frothers
.Flocculants
.Collectors
.Solvent Extractants
.Grinding Aids
.Others

Application

.Mineral Processing
.Explosives and Drilling
.Water and Wastewater Treatment
.Others

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