Persistence Market Research in its latest report projects that the global xanthates market will grow at a CAGR of 6.1% over the forecast period (2017-2025).
New York, NY -- (SBWIRE) -- 07/06/2017 -- Owing to Xanthates' excellent mineral ore processing capabilities, its global sales have witnessed a significant rise in recent years. Mining complexity and declining ore quality have led to a major increase in demand for specialty chemicals to process ores. Towards the end of 2025, around 371,826 tons of xanthates is expected to be sold globally.
The mining industry is rattled by low productivity, attributing to depleting reserves across the globe. Hence, the industry is bound to exploit reserves that lie deeper in the earth and require intensive refining. The aforementioned intricacies in mining are increasingly necessitating the use of mining flotation chemicals for extraction of the desired mineral.
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Factors as such is primarily boosting the growth of the global xanthates market. The report titled "Xanthates Market: Global Industry Trend Analysis 2012-2016 and Forecast 2017-2025" anticipates that global xanthates market will reach a valuation of US$ 624.6 Mn by the end of the forecast period. The mining industry has always been among the major growth engines of an economy, which is why governments in various countries are consistently trying to tap all their national mineral resource. This, in turn, is orchestrating the growing sales of the specialty chemicals such as the xanthates.
China currently dominates the global xanthates market, both in terms of supply and demand. In 2016, the country accounted for nearly 68% share of the overall xanthates consumption in Asia Pacific (APAC). At the same time, investors are targeting countries such as Vietnam, India and Australia for further exploration of new mines, which is also supporting the growth of the region's market. However, regions such as Latin America and MEA are expected to create significant growth opportunities owing to the increasing investments in the mining sector in these regions. In addition, the xanthates market in Latin America is set to register the fastest growth rate during the assessment period. Countries like Peru, Chile, Mexico and Columbia are expected to create significant opportunities for market players in the region.
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The demand for potassium amyl xanthate will continue to gain traction throughout the forecast period. Potassium amyl is the preferred xanthates type, especially in the mining industry as it offers a stronger reagent than sodium-based xanthates. In terms of value, potassium amyl xanthates segment is projected to expand at a strong CAGR over 2025.
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Based on application, the mining sector will continue to account for a major value share of the market in 2017 and beyond. Meanwhile, application of xanthate in the agrochemical sector is expected to increase steadily in the near future.
Senmin International (Pty) Ltd, QiXia TongDa Flotation Reagent Co., Ltd., Yantai Humon Chemical Auxiliary Co.Ltd, CTCMining, SNF FloMin Inc., Orica Limited., Tieling Flotation Reagent Co.Ltd, Coogee Chemicals, Vanderbilt Chemicals, LLC Company B are some of the leading market players profiled in the PMR report. A number of these companies are focusing on expanding operations in regions having extensive mining activities, as they exhibit potential business opportunities.