Albany, NY, July 1, 2015 (GLOBE NEWSWIRE) -- A recent study by Transparency Market Research (TMR) forecasts that the global mining chemicals market will grow at a CAGR of 6.6% between the years 2013 and 2019. TMR, a market research company based in the United States, states in its report that the global mining chemicals market, valued at US$18,000.9 million in 2012, will report a market value of US$28,130.8 million by 2019. The report titled 'Mining Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019' is available for sale on the website.
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According to the TMR report, declining ore grades in several mines all across the globe is a prominent factor impacting the global mining chemicals market. On one hand, declining ore grade compels mining companies to increase their respective activities pertaining to mineral processing to ensure cost-effective mineral extraction, which consequently drives the demand for mining chemicals. On the other hand, decreasing grades of ores also have an adverse impact on profitability because it entails greater investments into optimum mining techniques. Consumption levels and economic development directly affect the demand for minerals, since greater economic activity leads to a simultaneous increase in the supply of minerals. Rising demand for complex mining chemicals can also be attributed to the need for maintaining the costs of mining.
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The research report segments the global mining chemicals market on the basis of product type, scope of application, and geography. Based on product type, the global mining chemicals market is classified into grinding aids, frothers, solvent extractants, flocculants, collectors, and others such as deformers and modifiers. Within the product segment, the largest share in the global market for mining chemicals is held by the grinding aids segment, with the collectors segment holding the second-largest share. The various application areas in the global mining chemicals market are water and wastewater treatment, mineral processing, explosives and drilling, and others. The other areas of application are analysis and exploration. The global mining chemicals market is characterized by forward integration at a moderate degree since only a handful of mining chemicals manufacturers are involved in downstream activities.
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Geographically, the research report segments the global mining chemicals market into Asia Pacific, Europe, North America, and Rest of the World. In 2012, the global mining chemicals market was dominated by Europe and Asia Pacific. Regionally, the largest share was held by Asia Pacific in the overall market for mining chemicals, with a share in consumption that exceeded 50%.
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It is expected that the global mining chemicals market will expand substantially in the forthcoming years because several countries of MENA, Latin America, and Asia Pacific have undertaken infrastructure development projects. BASF SE, Chevron Phillips Chemical Company, Clariant AG, The Dow Chemical Company, Cytec Industries, and SNF FloMin are the prominent companies in the global mining chemicals market.
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Mining Chemicals Market - Product Segment Analysis
- Solvent extractants
- Grinding aids
- Others (Modifiers, defoamers, etc.)
Mining Chemicals Market - Application Segment Analysis
- Mineral processing
- Explosives and drilling
- Water and Wastewater treatment
- Others (Exploration, analysis, etc.)
Mining Chemicals Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
Browse All Chemical Market Research Reports: http://www.transparencymarketresearch.com/chemical-market-reports-2.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research