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(MoneyNewsWire.Net, June 03, 2018 ) The global mining chemicals market is expected to register a CAGR of 3.64 % during the forecast period, 2018 to 2023. By function, floatation chemicals accounted the highest share of the market in 2017.
Increasing Demand of Specialty Chemicals in Mining Process
Specialty chemicals are used in almost all the steps in mining process. The mining industry has witnessed shifts in its production techniques, from tunneling to open pit mining, which has made it possible to mine ores of declining grades and decrease the overall costs. In addition to this, specialty chemicals are also used in the later stages of production chain like smelting, refining, manufacturing and commodity trading.
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Flotation Chemicals – the fastest growing segment by function
Collectors dominated the flotation chemicals segment in 2017, while dispersants registered the fastest growth through 2023. However, certain factors such as logistics and transportation costs of flotation chemicals, and stringent regulatory policies is expected to adversely affect the profitability margin of the players involved in the market.
China to Dominate the Market in the Region Through 2023
China holds majority of the Asia-Pacific mining chemical industry. Chinese mining industry has more than 10,000 mines, majority part is owned by state. It is world’s largest producer of gold, coal, and other earth minerals. Moreover, it is also a leading consumer of mining products. In addition to the existing wastewater treatment plants, there are ongoing advances such as expansion of existing wastewater sewage treatment plants and establishment of new sewage treatment plants. Mining chemicals are largely used in the mining industry for recovering minerals from the slurry, separation of impurities, purification of certain minerals, and many other applications.
Key Developments in the Market
April 2017: BASF to increase prices for flocculants for the mining industry worldwide
March 2017: Dow came up with Sustainable Natural Solution to Address Mine-Impacted Water
Major Key Players : BASF SE, CYTEC SOLVAY GROUP, CLARIANT AND OTHER PLAYERS INCLUDE 3M, AKZONOBEL, AXIS HOME, ECOLAB (NALCO), DUPONT, THE CHEMOURS COMPANY, HUNTSMAN INTERANTIONAL LLC, CTC MINING (TENNANT CHEMICAL COMPANY LTD.), NASACO INTERNATIONAL LLC, ORICA LIMITED, FMC CORPORATION (CHEMINOVA), GE CORPORATION, SASOL, AECI, SNF FLOMIN INC., CHEVRON PHILIPS CHEMICALS CO. LTD., CP KELCO
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