Transparency Market Research includes new market research report "Marine Mining Market" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 10/21/2014 -- The depleting land based mineral resources have created a thrust in marine mining activities that has direct implications on the marine mining market. Marine mining is used to recover the minerals and metals from the seafloor that cannot be extracted with the help of dredgers. With the spark in the marine mining market, Hitachi has even shifted their attention from construction of land based mining equipments to marine mining equipments. With the recent advancement in technologies and innovations the mining companies are shifting their focus from the land based mining to marine or the deep sea mining. In a few countries the volume of some minerals extracted from marine mining has even surpassed the volume extracted by using land mining.
Browse the full Marine Mining Market Report with TOC
The marine mining market can be segmented on the basis of technology (drilling and extraction), minerals extracted and the geographical locations of the marine mining areas and the marine mining companies. Depending upon the drilling technology the marine mining can be classified as either vertical mining or the horizontal mining. For the purpose of mineral extraction, we use either the continuous line bucket system or the hydraulic suction system. The continuous line bucket system operates like a conveyor belt to bring the minerals from the seafloor to the mining ship platform. The hydraulic suction system creates a partial vacuum to extract the minerals from the seafloor. Depending upon the minerals extracted, the marine mining can be classified as poly metallic mining, manganese crust mining and the sulfide deposit mining. The poly metallic mining is used to extract the minerals such as nickel, copper, manganese and cobalt. The manganese crust mining is used to extract mainly, cobalt, molybdenum, vanadium and platinum, while the sulfide mining is used for the extraction of copper, zinc, gold, silver and lead. Marine mining can also be used to extract gems from the seabed.
Regional segmentation can be done on the basis of location of marine mining regions and companies. Some of the major marine regions are near shore and deep water areas of, Mexico and the United states (North America), Central and Eastern Manus basin near Papua New Guinea, Indonesia, Fiji, Tonga, Vanuatu, Micronesia and the South West Indian ridge ( Asia pacific region), South Africa, Namibia and Ghana ( Middle East and Africa) and Brazil ( Rest of World). Major marine mining companies are located in the United States, Canada, Netherlands, Belgium and South Africa. According to DeBeers website Namibia’s Atlantic coastal areas hold at least 80 million carats of gems, the world’s richest marine diamond deposits.
Depleting mineral resources, abundance of undersea mineral reserves and advancement in mining technologies are the drivers for marine mining market. Stringent environmental laws and huge initial expenditure in marine mining can be a restraint in the marine mining market. Vast untapped undersea reserves and low competition due to a small number of players can act as opportunities in the deep sea mining market.
Marine mining is a new mineral retrieval process requiring sophisticated technology; hence there are limited numbers of existing players in the market. Some of the major players in the marine mining market are DeBeers group (South Africa), Nautilus Mineral Inc (Canada), Oceanflore, Panda Marine Mining and Exploration Company, IHC Merwede B.V (Netherlands) and Neptune Minerals (United Kingdom).
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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