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SAN FRANCISCO , June 7, 2022 /PRNewswire/ -- The global mining chemicals market is expected to reach USD 18.13 billion by 2030, registering a CAGR of 6.7% over the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by factors such as rising minerals demand for minerals, increasing quarrying activities, and water treatment.
The penetration of the product in explosives & drilling applications is considerable due to an increase in mining activities across the globe. Africa is having an abundance of natural resources such as gold, diamond, phosphate, copper, iron ore, and many others. Explosives and drilling processes are used to extract minerals from deep earth. The increase in mining activities is likely to boost the growth of the product globally over the forecast period.
Key Industry Insights & Findings from the report:
Get more Industry Insights from 153-pages market research report, "Mining Chemicals Market Size, Share & Trends Analysis Report By Ore Type (Powder Gold, Iron, Copper), By Application (Mineral Processing, Explosives & Drilling), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Mining Chemicals Market Growth & Trends
The rising demand for different minerals, especially gold across regions has resulted in a hike in mining activities, thus, is likely to boost the market for the product over the forecast period. The demand for gold is increasing every year in India , China , the U.S., Saudi Arabia , the UAE, Turkey , Russia , and Egypt being its leading consumers. Gold is majorly used for manufacturing jewelry. As of 2020, India and China together account for 57% of the total consumption of gold globally.
Increasing foreign investments in emerging countries of Asia Pacific , including India and China , have contributed to the growth of the market in the region. India has an abundance of natural reserves of coal, bauxite, titanium, diamond, and limestone. The growing quarrying and mineral processing activities in the country are projected to promote the utilization of mining chemicals in the region over the forecast period.
Key manufacturers in the industry are focused on expanding the production of their major product portfolios, including high-grade mining chemicals, to gain higher market shares. The invention of new technological advancements and chemicals has led to the development of environmentally friendly products, which use sustainable manufacturing processes for production. Arkema, Sasol, and BASE SE are some of the players in the market that supply raw materials for the production of sustainable products.
Grand View Research has segmented the global mining chemicals market report based on the ore type, application, and region:
Ore Type Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
Regional Outlook (Revenue, USD Thousand; Volume, Kilotons, 2018 - 2030)
List of Key Players in Mining Chemicals Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Drilling & Extraction Equipment Industry Research Reports.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
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