The mining chemicals market size is estimated to grow from USD 6.02 Billion in 2017 to USD 7.54 Billion by 2022, at a CAGR of 4.60%. The mining chemicals market is witnessing considerable growth due to the rise in industrialization and infrastructural development. High demand for mining chemicals is primarily attributed to increasing complexity of ores and decreasing ore grades. The mining chemicals industry has come across new opportunities due to the growing stringent government regulations on wastewater pollution, coupled with the rising demand for quality minerals.
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Mining chemicals also finds wide application in mineral processing. This is due to the rising demand for concentrated grade minerals. As per International Mining Equipment (IME) 2017, mineral processing will witness a significant rise due to the high growth of the mining sector, in terms of production of minerals.
Mining chemicals are consumed in the wastewater treatment application for intercepting, diverting, and recycling the water. High demand for mining chemicals in water & wastewater treatment can be attributed to the stringent environment and legislative regulations on toxic discharge in water bodies initiated by governments of countries such as the U.S.
In 2016, the Asia-Pacific market accounted for the largest share of the global mining chemicals market, followed by Europe and North America. Countries such as China and Japan are expected to witness high growth in the mining chemicals market due to rapid economic expansion. The positive outlook of the economies is attracting huge investments from global mining companies. As a result, the mining capacity of various metals and minerals is increasing, thereby boosting the demand for mining chemicals.
The major players in the Mining chemicals market include AkzoNobel N.V. (Netherlands), BASF SE (Germany), Clariant AG (Switzerland), Cytec Industries Inc. (U.S.), Kemira OYJ (Finland), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Orica Limited. (Australia), ArrMaz Products, L.P. (U.S.), and SNF Floreger (France).
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