Mining Chemicals Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 4.26 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mining Chemicals Market Analysis
The Mining Chemicals Market size in terms of production volume is expected to grow from 1.21 Million tons in 2024 to 1.55 Million tons by 2029, at a CAGR of 4.26% during the forecast period (2024-2029).
The COVID-19 pandemic hampered the mining chemicals market, as nationwide lockdowns in several countries and strict social distancing measures affected mineral processing and wastewater treatment applications. However, the market registered a significant growth rate after the restrictions were lifted due to the recovering demand from mineral processing industries.
Increasing mining activities in Asia-Pacific and North America and the rising demand for minerals across different end-use industries are expected to drive the market for mining chemicals.
On the other hand, stringent government regulations related to the mining industry and hazardous mining chemicals are expected to hinder the market's growth.
The undiscovered potential of mining activities in Africa and the rising exploration activities related to rare earth metals are expected to create lucrative market opportunities over the coming years.
Asia-Pacific dominates the market studied and is anticipated to witness the highest CAGR during the forecast period.
Mining Chemicals Market Trends
Increasing Use of Mining Chemicals in Mineral Processing
- Mineral processing is also called mineral dressing. It is a form of extractive metallurgy that usually separates valuable minerals from the ore into a concentrated, marketable product. Mineral processing is conducted at the mine site and is highly mechanical. The types of equipment used at each stage of mineral processing include crushing and grinding equipment, sizing and classification equipment, concentration equipment, and dewatering equipment.
- Mine profitability depends on the amount of desirable mineral concentrate that can be extracted from the ore. Hence, mineral processing is designed to yield the maximum amount of mineral concentrate before the product is supplied to the market. It is an essential step in converting ore into a product that can be sold and used for everyday applications.
- Mineral processing is used to extract metals, including chalcopyrite, aluminum, chromite, bauxite, copper, gold, iron, hematite, lead, molybdenum, magnetite, zinc, tin, nickel, silver, and platinum, and rocks, including coal, building stone, granite, clay, potash, limestone, sand, and marble.
- Industrial mineral ore includes diamond, barite, apatite, garnet, fluorite, zircon, quartz, gemstones, vermiculite, and wollastonite. Some of the companies operating in the mineral processing business are BASF, Clariant, Solenis, Syensqo, and Ecolab. Syensqo’s floating reagents are broadly used in the mining industry and support a varied range of processing conditions and ore types. The company’s flotation chemicals improve the recovery of precious and base metals, including gold, copper, silver, molybdenum, polymetallic, cobalt, nickel, lithium, and platinum group metals.
- Companies are also introducing new products and innovations in the mining industry to gain a competitive edge. For instance, in October 2023, BASF introduced two new flotation reagent brands, Luprofroth and Luproset, for the mining industry. These brands will expand the company’s floatation business, and BASF will become a full solution provider for the mining industry.
- Aluminum and steel mining requires numerous chemicals for various purposes, such as refining, separation, grinding, and blasting. Among the compounds utilized are sodium hydroxide, ammonium nitrate, calcium hydroxide, soda ash, and lime. The use of these substances is regulated to guarantee worker and environmental safety.
- As per the World Steel Association, in 2022, the world produced 1.87 billion tonnes of crude steel. According to the International Aluminum Institute, by the end of 2023, aluminum production reached 70.59 million metric tonnes, up 2.25% from 2022 levels.
- Hence, owing to the above-mentioned factors, the mineral processing segment is expected to dominate the market for mining chemicals during the forecast period.
Asia-Pacific to Dominate the Market During the Forecast Period
- Asia-Pacific is expected to dominate the market for mining chemicals during the forecast period. The demand for mining chemicals from mineral processing and wastewater treatment applications is increasing in countries like China, Japan, and India.
- China has one of the largest mining industries in the world. China is the world's largest producer, often by a wide margin, of over 20 metals. These metals include aluminum, gold, graphite, and others. China is also a major producer of iron, steel, lead, magnesium, and rare earth metals. It is also a major exporter of zinc.
- Furthermore, China dominates the supply chain of global critical minerals, accounting for approximately 60% of worldwide production and 85% of processing capacity. The country is actively pursuing lithium and cobalt resources in the deep sea, backed by significant government investments. This strategic focus is positioning China as a dominant player in this emerging extractive sector, with Russia and South Korea also making notable strides in this field.
- The metals and mining industry in India is growing by implementing various initiatives such as the Smart Cities, Make in India Campaign, and rising focus on renewable energy projects under the National Electricity Policy, alongside infrastructure development.
- The growth of the mining sector is projected at 8.1% in the current fiscal year, a significant increase from 4.1% in 2022-23, attributed to the expansion of mining activities across the country. In February 2024, State-run Coal India planned to commence operations at five new mines and enhance the capacity of at least 16 existing ones to meet the escalating demand for fuel.
- Furthermore, Japan is actively seeking pathways to conduct deep-sea mining within its exclusive economic zone (EEZ) as a strategy to reduce dependency on imported mineral resources crucial for advanced and environmentally friendly technologies. Japan's mining sector, though relatively small, is primarily centered on gold mining, predominantly situated on three islands, namely Hokkaido, Kyushu, and Honshu. Several gold exploration projects, including those led by Japan Gold and Barrick Gold, are underway. Additionally, the Hishikari mine, owned by Sumitomo Metal Mining, plays a significant role in expanding Japan's mining industry.
- Owing to the factors mentioned above, the market for mining chemicals in Asia-Pacific is projected to grow significantly during the forecast period.
Mining Chemicals Industry Overview
The mining chemicals market is partially fragmented in nature. Some of the major players in the market (not in any particular order) include BASF SE, Solvay, AECI, Chevron Phillips Chemical Company LLC, and Clariant.
Mining Chemicals Market Leaders
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BASF SE
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Solvay
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AECI
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Chevron Phillips Chemical Company LLC
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CLARIANT
*Disclaimer: Major Players sorted in no particular order
Mining Chemicals Market News
- February 2024: Orica Limited announced the acquisition of Cyanco, a US-based company primarily serving the gold mining industries. Through the acquisition, the company plans to strengthen its mining chemicals business.
- November 2023: Nalco Water, an Ecolab company, acquired Flottec, a leading provider of flotation products and services for the mineral processing industry. This acquisition aims to increase the company's sales and service presence in key markets to respond to the dynamic needs of mineral processing customers.
Mining Chemicals Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Mining Activities in Asia-Pacific and North America
- 4.1.2 Rising Demand for Minerals Across Different End-use Industries
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4.2 Restraints
- 4.2.1 Stringent Government Regulations Related to Mining Industry and Hazardous Mining Chemicals
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Function
- 5.1.1 Flotation Chemicals
- 5.1.1.1 Collectors
- 5.1.1.2 Depressants
- 5.1.1.3 Flocculants
- 5.1.1.4 Frothers
- 5.1.1.5 Dispersants
- 5.1.2 Extraction Chemicals
- 5.1.2.1 Diluents
- 5.1.2.2 Extractants
- 5.1.3 Grinding Aids
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5.2 Application
- 5.2.1 Mineral Processing
- 5.2.2 Wastewater Treatment
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Indonesia
- 5.3.1.6 Malaysia
- 5.3.1.7 Australia and New Zealand
- 5.3.1.8 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Russia
- 5.3.3.6 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 Nigeria
- 5.3.5.2 South Africa
- 5.3.5.3 Tanzania
- 5.3.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers And Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 AECI
- 6.4.3 Arkema
- 6.4.4 BASF SE
- 6.4.5 Betachem (Pty) Ltd
- 6.4.6 Chevron Phillips Chemical Company LLC
- 6.4.7 CLARIANT
- 6.4.8 CTC (Tennant Consolidated Group)
- 6.4.9 Ecolab
- 6.4.10 FMC Corporation
- 6.4.11 Indorama Ventures Public Limited
- 6.4.12 Kemira
- 6.4.13 NASACO
- 6.4.14 Orica Limited
- 6.4.15 Qingdao Ruchang Mining Industry Co. Ltd
- 6.4.16 Sasol Limited
- 6.4.17 SNF Group
- 6.4.18 Solvay
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Undiscovered Potential of Mining Activities in Africa
- 7.2 Rising Exploration Activities Related to Rare Earth Metals
Mining Chemicals Industry Segmentation
Mineral and ore mining requires chemicals. These chemicals take rich minerals and metals from ore and convert them for industrial use. Flotation reagents remove minerals from waste rock and other ore contaminants. Cyanide extracts gold from ore, and acids dissolve and recover copper and nickel.
The mining chemicals market is segmented by function, application, and geography. By function, the market is segmented into flotation chemicals, extraction chemicals, and grinding aids. By application, the market is segmented into mineral processing and wastewater treatment. The report also covers the market size and forecasts for the mining chemicals market in 20 countries across major regions. Each segment's market sizing and forecasts are based on volume (tons).
| Function | Flotation Chemicals | Collectors |
| Depressants | ||
| Flocculants | ||
| Frothers | ||
| Dispersants | ||
| Function | Extraction Chemicals | Diluents |
| Extractants | ||
| Function | Grinding Aids | |
| Application | Mineral Processing | |
| Wastewater Treatment | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Indonesia | ||
| Malaysia | ||
| Australia and New Zealand | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Russia | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East and Africa | Nigeria |
| South Africa | ||
| Tanzania | ||
| Rest of Middle East and Africa |
Mining Chemicals Market Research FAQs
How big is the Mining Chemicals Market?
The Mining Chemicals Market size is expected to reach 1.21 million tons in 2024 and grow at a CAGR of 4.26% to reach 1.55 million tons by 2029.
What is the current Mining Chemicals Market size?
In 2024, the Mining Chemicals Market size is expected to reach 1.21 million tons.
Who are the key players in Mining Chemicals Market?
BASF SE, Solvay, AECI, Chevron Phillips Chemical Company LLC and CLARIANT are the major companies operating in the Mining Chemicals Market.
Which is the fastest growing region in Mining Chemicals Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Mining Chemicals Market?
In 2024, the Asia-Pacific accounts for the largest market share in Mining Chemicals Market.
What years does this Mining Chemicals Market cover, and what was the market size in 2023?
In 2023, the Mining Chemicals Market size was estimated at 1.16 million tons. The report covers the Mining Chemicals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mining Chemicals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mining Chemicals Industry Report
Statistics for the 2024 Mining Chemicals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mining Chemicals analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
