San Francisco, California, Feb. 9, 2015 (GLOBE NEWSWIRE) -- Global mining chemicals market is expected to reach USD 27.90 billion by 2020, according to a new study by Grand View Research, Inc. Mining industry growth in India, China, Australia, Chile and Peru is expected to drive market growth in the near future. Concentration of rare earth metals in China is expected to promote extraction and drilling activities, which is likely to drive market growth for mining chemicals over the forecast period. Decreasing ore qualities of nickel, zinc, lead and copper has increased importance of frothers, flocculants, solvent extractants and grinding aids, which is expected to augment sales over the forecast period.
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Water & waste water treatment was the largest application, accounting for more than 35% of market revenue in 2013. Mining chemicals market demand in water & waste water treatment is expected to witness growth owing to regulatory pressure aimed at reducing water pollution caused by mining.
Further key findings from the study suggest:
- Grinding aids was the largest product segment, exceeding 40% of global mining chemicals market share in 2013. Rising concern for grinding cost in mining industry is expected to augment grinding aids market growth over the forecast period.
- Asia Pacific was the largest mining chemicals market, accounting for more than 35% of global revenue in 2013. Mining industry growth in India, China and Australia is expected to have a positive impact on market in the near future.
- Emergence of Latin America and Africa as mining hub on account of increasing merger and acquisitions activities due to supportive government policies for mineral extraction and production is expected to have a positive impact the market.
- Global mining chemicals market is highly fragmented on account of presence of numerous manufacturers globally. Profitability is expected to be a key concern for market players owing to high cost of raw materials coupled with increasing logistics expenditure. Key market participants include BASF, Dow Chemicals, Ashland, Cytec and SNF FloMin. BASF established a new technological laboratory at Johannesburg in June 2013, aimed at product development for the mining industry.
For the purpose of this study, Grand View Research has segmented the global mining chemicals market on the basis of product, application and region:
Global Mining Chemicals Product Outlook (Revenue, USD Million, 2012 - 2020)
• Solvent extractants
• Grinding aids
Global Mining Chemicals Application Outlook (Revenue, USD Million, 2012 - 2020)
• Mineral Processing
• Explosives & Drilling
• Water & Wastewater
Global Mining Chemicals Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
More information about the Global Mining Chemicals Market: http://www.grandviewresearch.com/industry-analysis/mining-chemicals-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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