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Deerfield Beach, FL -- (SBWIRE) -- 09/28/2015 -- The global mining chemicals market is accounted for $20.82 billion in 2014 and estimated to grow $34.4 billion with a compound annual growth rate (CAGR) of 6.48% during the forecast period 2015-2022. Global mining chemicals market is projected to witness development on account of lessening ore quality, which has bound metal extraction companies to use flocculants, frothers, collectors, grinding aids and solvent extract ants. Application growth of metals in packaging and construction, oil & gas industries in fast growth economies has increased mining activities intended for extraction of copper, iron ore, zinc and silver. Consequently, major mining companies such as BHP Billiton have increased their funds in countries with high potential mineral reserves including Chile (Copper), Peru (Silver) and South Africa (Platinum).
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The global mining chemical market is segregated on application types, product and region. Depending on the Applications type the market is segmented into three types namely mineral Processing, explosives and drilling and water and waste water treatment. Based On product mining chemical market is divided into flotation collector Flocculants Solvent extract ants, frothers, scale inhibitors, Crystal growth Modifiers and De-foamers. Geography mining market is segmented into North America, Europe, Asia Pacific and Rest of the World (ROW).
The global mining chemicals market is set to increase, eventhough at varying growth Rates across different regions. North America and Europe will see slower advancement (with a CAGR of 6.8% and 5.4%, respectively, through 2022) as compared to the Asia-Pacific region and the rest of the world (ROW),Which will see estimated CAGRs of 8.6% and 8.2%, respectively, through 2022.
Major players in the mining market include Air Product And chemicals, Akzonobel Arizona Chemical Co, Arrmazcustom Chemicals, Arrmaz Gulf Chemicals, Ashland INC, Austin Powder Co, Basf Se, Clariant AG, Cytec Industries INC.
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