Global Mining Chemical Market 2016-2020
About Mining Chemicals
Mining chemicals are functionally specialized chemicals that enhance the productivity and efficacy of mining processes. These chemicals are primarily used in blasting and drilling, mineral processing, and water and waste treatment. They are commonly used in the extraction of metals and minerals like copper, gold, molybdenum, nickel, iron, cobalt, alumina, and other industrial minerals like bauxite, chromite, cobalt, manganese, and quartz.
Technavio’s analysts forecast the global mining chemicals market to grow at a CAGR of 7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global mining chemicals market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of mining chemicals for applications like blasting and drilling, mineral processing, and water and waste treatment in the mining industry.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mining Chemicals Market 2016-2020
Technavio recognizes the following companies as the key players in the global mining chemicals market: AECI, BASF, Chevron Phillips Chemical, Clariant, and Cytec Solvay.
Other Prominent Vendors in the market are: AkzoNobel Surface Chemistry, Evonik, DuPont, and Ashland.
Commenting on the report, an analyst from Technavio’s team said: “One of the major trends in the global mining chemicals market is the growing production of industry-specific chemicals. In terms of competitive offerings, two kinds of players exist in the global mining chemicals market. The first constitutes companies that offer generic products, and the second includes those that manufacture industry-specific ones. In recent years, many vendors have been increasingly focusing on offering specific chemicals to the global mining chemicals market. Major players in the market, such as BASF, have been aligning their businesses to suit customer needs for specific industries. AECI is another example of a company that works on this model. Its branch AEL Mining Services primarily provides mining solutions for blasting operations. Clariant focuses on the provision of mining solutions for mineral processing, froth flotation, and blasting and drilling applications. “
According to the report, growth in blasting and drilling application in coal mining will drive growth in the global mining chemicals market. The blasting and drilling application is very important in the mining industry, and involves drilling the rock and using explosive chemicals to break it down in smaller pieces. The coal mining industry is the largest end user of industrial explosives, with a market share of more than 40% globally. Coal is extensively used in the generation of electricity, in the steel industry for extraction of iron from iron ore, and in the cement industry. It accounted for 29% of world's energy source and approximately 41% of global electricity needs. The relative abundance of coal and its easy transportability and use makes it widely acceptable. The growing production of coal has had significant positive impact on the demand for blasting and drilling chemicals, and will continue to do so over the next five years.
Further, the report states that the cut throat competition in the global mining chemicals market is leading vendors to decrease product prices, which is affecting their profit margins. The intensely competitive environment is also leading companies to stop their operations or to limit them to particular products and areas. India and China are emerging as manufacturing hubs in the market. China especially plays a significant role in the global market and has a considerable control over product pricing. Because of the country's advantages in terms of resource availability, it is able to offer products at significantly low rates, thus gaining more market share and restricting the growth of competitors. This has been discouraging small vendors and new entrants in the market and has the potential to impact the long-term growth goals of the global mining chemicals market.
AECI, BASF, Chevron Phillips Chemical, Clariant, Cytec Solvay, AkzoNobel Surface Chemistry, Evonik, DuPont, Ashland.
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