Mining Chemicals Global Market Size, Share, Trend Analysis, By Product Type, By Ore Type, By Application, By Region Forecasts, 2023-2032 | BASF SE, Clariant AG, SNF Group, Kemira, 3M

Mining Chemicals Market

The Mining Chemicals Global Market Report 2023 by The Business Research Company, provides mining chemicals market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Mining Chemicals Global Market Report 2023, the market size is expected to grow from $14.89 billion in 2022 to $15.96 billion in 2023 at a compound annual growth rate (CAGR) of 7.17%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global mining chemicals market size is expected to grow to $20.17 billion in 2027 at a CAGR of 6%.

Increasing mining activities are expected to boost the mining chemicals market. Mining activity refers to extracting metallic and non-metallic minerals or industrial rock deposits from the earth. The nature of mining decides the use of various chemical contaminants, such as mercury, cyanide, and arsenic, utilized at different operation phases. It is used to separate minerals from their ore and boost metals’ purity and minerals’ purity.

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The mining chemicals market is segmented:

1) By Product Type: Frothers, Flocculants, Collectors, Solvent Extractants, Grinding aids

2) By Mineral Type: Base metals, Non-metallic minerals, Precious metals, Rare earth metals

3) By Application: Mineral Processing, Explosives and drilling, Water and wastewater treatment, Other Applications

Innovative mineral extraction technologies have emerged as the key trend gaining popularity in the mining chemicals market. Major companies operating in the mining chemicals market are developing innovative technologies such as electrification technologies to strengthen their position in the market. For instance, in September 2021, ABB Ltd., a Switzerland-based electrification and automation company, launched ABB Ability eMine. ABB Ability eMine’s unique feature makes all-electric mining possible with completely integrated digital and electrification systems from the mine to the port and has a fully automated charging system for haul trucks. The different digital and electrical technologies are contributing to the mining industry’s transformation to a low-carbon economy.

The mining chemicals market report table of contents includes: