Albany, NY -- (SBWIRE) -- 06/18/2018 -- The featured report from Transparency Market Research (TMR) on the global mining chemicals market offers the latest intelligence on the industry. This report is titled "Mining Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019". According to this report, the global mining chemicals market will expand at a CAGR of 6.6% during the forecast period from 2013 to 2019. In 2012, the global mining chemicals market was estimated at US$18 bn and by 2019, the market is projected to be worth US$28.1 bn.
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The global mining chemicals market is driven by the growing demand for mining chemicals due to the increase in the occurrence of low-quality and complex ores. In addition to this, the global mining chemicals market's growth is also supported by the stringent government regulations for tailings management and the rising economic conditions in the Asia Pacific region. On the other hand, the global mining chemicals market is suppressed by the complicated transportation and logistics involved in the mining chemicals market.
Product-wise, the global mining chemicals market is divided into grinding aids, solvent extracts, collectors, flocculants, frothers, and others. The segment of grinding aids held the largest share in the global mining chemicals market in terms of volume, around 29% in 2012. The second largest product segment in the global mining chemicals market in 2012 was that of collectors. The global mining chemicals market exhibits a moderate degree of forward integration due to the engagement of a few mining chemical producers in downstream activities. This integration will provide participants a distinctive competitive edge in terms of enhanced customer retention and market demands.
By application, the global mining chemicals market is segmented into water and wastewater treatment, explosives and drilling, mineral processing, and others. In 2012, the waste and wastewater treatment segment held a share of 40%, in terms of volume consumed, in the global mining chemicals market. Rising demand for mining chemicals used for water treatment due to the presence of favorable regulations in several countries to control the effect of mining on the environment will drive the segment of water and wastewater treatment in the global mining chemicals market.
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On the basis of region, the global mining chemicals market is classified into Asia Pacific, Europe, North America, and Rest of the World (RoW). In 2012, Asia Pacific and Europe were the key regional markets for mining chemicals. Asia Pacific was the dominant regional market for mining chemicals and held a share of more than 50% in the global mining chemicals market in terms of total volume consumption. Several key mining chemical producers are increasingly focusing on capacity expansion in the Asia Pacific region. In addition to this, the revival of the global economy following recent economic troubles in the Western World will also drive the demand for minerals and rare earth metals globally.
Companies in the global mining chemicals market will benefit from the market opportunity of growing investment in mining in North Africa and Latin America. Some of the key players operating in the global mining chemicals market are AkzoNobel Performance Additives, Air Products and Chemicals, Cytec Industries, Clariant AG, The Dow Chemical Company, BASF SE, and Ashland Inc.