Mining Chemicals Market

Mining Chemicals Market: Overview

The Mining Chemicals Market is valued at USD 12.2 Bn in 2026 and is projected to reach USD 20.2 Bn, growing at a CAGR of 8% by 2033. One of the major factors driving the growth of the mining chemicals market is the increase in mining projects around the world. The increased demand for minerals accelerates the market growth due to a decline in ore grades across various mines and the surge in demand for mining chemicals used for water treatment, which are a result of various laws passed by different countries to limit the environmental impact of mining. In addition to the high use of these chemicals in commercial applications such as mineral processing, explosions, water treatment and drilling wastewater treatment, the market has been impacted by the demand for high-purity minerals.

Eventually, digital mining will become a reality, utilizing evolving digital technologies such as the industrial internet of things (IIoT). Using sensors connected to the internet, the data from mines can be collected in real-time. The mining industry is expected to see greater efficiency, reduced costs, and enhanced safety through these factors. Additionally, high-energy environments are predicted to result in fewer injuries and deaths. For instance, in November 2016, in Australia, Clariant acquired Chemical & Mining Services, Pvt Ltd (Australia), which provides specialty chemicals to the mining industry. As a result of this acquisition, the company's product portfolio, customer base, and technical expertise have been enhanced. As the mining industry continues to evolve, mining chemical providers have moved their focus away from ores and towards innovations in technology that can ensure economical ore treatment. Mining chemicals will have substantial investment opportunities as product innovations, and technologies develop.

Mining Chemicals Market: COVID-19 Impact

In an attempt to stop the spread of the COVID-19 virus, the world seems to be on lockdown, affecting markets with uncertainty and limitations. China, Italy, Australia, the United Kingdom, Canada, and the United States are among those countries affected, which may adversely affect the mining industry worldwide. It is predicted that the ongoing spread of COVID-19 and its various reactions will cause delays in existing mining projects. COVID-19 may have long-term effects on the mining industry. For example, the national lockdown in Italy, one of the worst-affected countries outside China, has forced several mines to postpone operations.

Mining Chemicals Market: Drivers

Mining Processes Require More Specialty Chemicals to Drive Market Growth

The mining process involves the use of specialty chemicals at almost every step. Chemicals simplify a highly complex process in mining. From tunneling to open-pit mining, mining techniques have changed, allowing the industry to mine ores of diminishing grades at lower costs. As well as being used in smelting, refining, manufacturing, and commodities trading, specialty chemicals also play a role in later stages of the production chain. Furthermore, mining activities are increasing in rapidly growing regions, such as China, Africa, and Latin America, and government initiatives are being taken to increase mining activities. Due to this, the usage of mining chemicals is expected to rise during the forecast period. Therefore, specialty chemicals are expected to drive the global market throughout the forecast period. Open-pit mining has allowed the mining sector to mine ores of diminishing grades while lowering total costs since tunneling has been replaced by open-pit mining.

Industrial and Chemical Applications of Mining Chemicals are Driving Market Growth

Mining chemicals are used in mineral processing and wastewater treatment, so manufacturers have been focusing on producing new products for specific applications as there are varying demands based on utilization. The market for mining chemicals is expected to be dominated by these segments. The market growth will also be accelerated by an increase in mining activities, which will lead to a greater demand for mining chemicals. The increase in investment in the mining sector is expected to provide potential opportunities for market growth during the forecast period as well. Due to diminishing ore grades across different mines and flood demand for mining chemicals for water treatment, the expansion popular for minerals is accelerating market growth. As a result of the various laws passed by various nations to reduce the impact of mining on the climate, market growth is accelerated. It is expected that the market will be positively impacted in the coming years by the high utilization of these chemicals in business applications, such as mineral handling, explosives, and water and wastewater treatment, as well as the increasing interest in high immaculateness minerals. The increasing demand for gold, copper, and platinum from different applications is anticipated to drive the interest in mining exercises, driving the demand for mining chemicals.

Mining Chemicals Market: Restraints

High Logistic Costs to Hamper Market Growth

In today's highly competitive global market, product pricing plays an extremely important role in determining the prices of mining chemicals. Logistics costs typically account for about 20% or more of the total cost of mining chemicals. Moreover, overseas shipment costs are high in almost all countries, negatively affecting the market. Manufacturers and suppliers must constantly evaluate logistics costs and transport opportunities to provide their customers or clients with the best quality product. It is expensive to supply mining chemicals to remote, undeveloped regions. Moreover, it is not always easy to ship mining chemicals by sea, resulting in higher logistics costs. Logistics costs vary from country to country depending on the availability of transportation facilities. This, in turn, restrains the market for mining chemicals due to the high logistics costs.

Mining Chemicals Market: Segment Overview

Grinding Aids to Dominate Market Due to their Efficiency in Grinding Process

An important aspect of optimizing the cost of mineral processing is the use of grinding aids. In grinding operations, grinding aids are used to increase efficiency, reduce particle size and viscosity, and reduce the amount of water and energy required. As well as improving ore throughput and reducing maintenance, grinding aids have other benefits. Bauxite grinding aids are an example of grinding aids. As a result, bauxite slurry's rheological properties are improved by reducing viscosity and energy consumption. In the forecast period, grinding aids will likely increase in demand as mining companies become more aware of the need to process more metal with less capital.

With Increased Demand for Minerals and Metal Leads, Explosives and Drilling Category Dominated Market

In major economies, minerals mining activities are expected to drive segment growth in the coming years. Metals and minerals are likely to contribute to achieving environmental sustainability due to their growing role in low-carbon futures and green energy technologies. Minerals and metals such as zinc, aluminum, copper, lead, lithium, steel, silver, manganese, nickel, neodymium, silver, indium, and molybdenum are likely to be high demand. It is expected that deep-surface mining, carried out to extract high-quality minerals, will contribute significantly to the growth of this application segment.

Mining Chemicals Market: Regional Landscape

Asia Pacific to Dominate Market due to Growing Mineral Process Activities in the Region

Over the forecast period, it is anticipated that the North American market will account for the largest revenue share. As mining activities grow in countries such as India, China, and others, the utilization of this product is expected to increase in the region over the forecast period. Further, China dominates the Asia Pacific market due to its production of coal, gold, and other earth minerals. Many mines in China are undergoing improvements, including new sewage treatment plants. India and China are among the emerging countries in the Asia Pacific that have seen an increase in foreign investments. Bauxite, titanium, diamonds, coal, and limestone are among the natural resources found in India. As a result of the positive outlooks of the economies, the mining capacity of various metals and minerals is increasing, which boosts the demand for mining chemicals.

The North American market is anticipated to experience the fastest growth throughout the forecast period due to the increase in construction activities in the country and certain industrial mineral production increases. This also led to a rise in their prices. Moreover, the country's consumption of minerals used in infrastructure, residential construction, and oil and gas drilling operations increased significantly. Therefore, over the forecast period, all such trends in the mining industry will increase the demand for mining chemicals.

Global Mining Chemicals Market: Competitive Landscape

In July 2019, As part of its growth strategy, Arkema acquired ArrMaz, a global provider of specialty surfactants for crop nutrition, mining, and infrastructure. Moreover, in June 2019, A greenhouse and laboratory will be modernized at FMC CORPORATION's Global Research and Development headquarters in Newark, Delaware, over the next three years.

Few of the players in the mining chemicals market include:

• BASF SE
• Solvay SA
• SNF Floerger (part of Groupe Solvay)
• Orica Limited
• Ecolab Inc.
• Clariant AG
• Kemira Oyj
• DuPont de Nemours, Inc.
• Rio Tinto Group (through its chemical products)
• The Dow Chemical Company (Dow Inc.)
• Henkel AG & Co. KGaA
• Borealis AG
• Ashland Global Holdings Inc.
• Azelis Group
• Akzo Nobel N.V.

 The Global Mining Chemicals Market is Segmented as Below: 

By Ore Type
• Powder Gold
• Iron
• Copper
• Phosphate
• Others

By Application
• Mineral Processing
• Explosives and Drilling
• Water Treatment
• Others

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa