Digital Technologies and Advanced Chemical Formulations Open New Avenues for Growth in Global Mining Chemicals Market
Mining chemicals market set for healthy CAGR of 6.7% between 2018 and 2025,finds Frost & Sullivan
SANTA CLARA,Calif.,Dec. 3,2019 --Growth opportunities in the global mining chemicals market look promising over the next six years.Rising demand for ferrous metals,industrial minerals,and fuel ore extraction is driving market revenues toward $2.9 billion by 2025. While mining chemical manufacturers are developing and integrating digital technologies to augment application efficiencies for their mining customers,end users are embracing chemistry formulations and compositions to advance operational orderliness and mineral processing steps. Frost & Sullivan expects the market to expand at a healthy compound annual growth rate (CAGR) of 6.7% between 2018 and 2025.
"Major mining companies have been keen to deploy tailor-made chemicals,green mining solutions,and innovative mineral extraction technologies that are capable of extracting more mineral content from low-grade mineral ores and waste products. In addition,some companies have been instrumental in developing antiscalants that meet the challenges of harsh ore processing conditions," said Ganesh Dabholkar,Senior Research Analyst,Chemicals,Materials & Nutrition,Frost & Sullivan. "Such factors are expected to drive the demand for high-end mineral processing products,thereby opening new avenues for market growth."
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With stringent environmental and health policies in the mining sector,demand for sustainable mining chemicals and more efficient use of water has become paramount. To succeed in a highly consolidated and competitive environment,with innovative key players such as Solvay SA,BASF SE,Clariant AG,and AECI (SENMIN),Dabholkar recommends participants provide innovative,technological solutions to optimize product performance.
Further growth opportunities players should tap into include:
Developing an extremely efficient supply chain at regional and global levels through partnerships and local presence.
Expanding organically through production capacity and portfolio expansion and inorganically through the acquisition of companies with niche product portfolios.
Building long-term pricing contracts with raw material suppliers to effectively manage raw material price fluctuations for sustainable profits.
"Favorable fresh mine deposit locations are becoming increasingly scarce,especially those located near existing mines which have been developed to avail the benefits of either an established permanent power infrastructure to service the mine or develop a new one with high geographic feasibility. This trend is dampening mining business attractiveness and impacting mining activities as well as chemical demand growth," noted Dabholkar.
Frost & Sullivan's Analysis of Global Mining Chemicals Market,Forecast to 2025 explores the factors and trends that have shaped the global mining chemicals market,the challenges that lie ahead,and the opportunities that can be tapped. The market is segmented by product types,including grinding aids,flocculants,collectors,solvent extractants,frothers and applications such as iron and ferroalloys,non-ferrous metals,industrial minerals and mineral fuels.
Analysis of Global Mining Chemicals Market,Forecast to 2025 is part of Frost & Sullivan's Metals & Minerals Growth Partnership Service program.
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Analysis of Global Mining Chemicals Market,Forecast to 2025
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