The market for mining chemicals is estimated to grow from USD 6.03 billion in 2017 to reach USD 7.54 billion by 2022, at a CAGR of 4.60%.

Mining chemicals are used to increase the efficiency and productivity of mining processes such as extraction and recovery of minerals from ores. A wide variety of general and specialty chemicals are utilized for mining. The mining chemicals market has generally been characterized by fluctuations in commodity prices, low profit margins, and increased competition from producers in less developed countries, especially China which has aggressively been manufacturing and exporting mining chemicals.

Continuous changes in the landscape of ores have shifted the focus of mining chemical providers towards innovations in the technology that can ensure economical treatment of ores. Advancements in terms of product innovations and technologies are expected to create substantial investment opportunities for mining chemicals.

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The mining chemicals market is segmented into mineral processing, explosives & drilling, water & wastewater treatment, and others. The explosives & drilling segment accounted for the largest share in 2016 and is also projected to grow at the highest CAGR over the next five years. The coal industry, one of the major users of explosives, is projected to fuel the growth of the explosives & drilling segment in the mining chemicals market.

Market Dynamics

Drivers

• Lower mineral concentration and increased complexity of ores
• Investments in mining projects in Asia-Pacific and South America
• Consolidation of mining industry

Restraints

• Slow growth of mining industry in developed economies

Opportunities

• Growing mining sector in Africa and Eastern Europe
• Increasing importance of water management activities in the Asia- Pacific region

Challenges

• Environmental impact of mining chemicals
• Development of ore-specific mining chemicals

Countries in Asia- pacific region such as China and Japan are expected to witness high growth in the mining chemicals market due to increase in mining activities in the region. The demand is primarily met by domestic players of the nations in this region. High demand for mining chemicals in the country can be credited to the continuous exploration and beneficiation of ores. Additionally, high foreign investments in China’s mining industry are expected to support the application for mining chemicals in the country.

The global market for mining chemicals is dominated by large players such AkzoNobel N.V. (The Netherlends), BASF SE (Germany), Clariant International Ltd. (Switzerland), Cytec Industries Inc. (U.S.), Kemira OYJ (Finland), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Orica Limited. (Australia), ArrMaz Products, L.P. (U.S.), and SNF Floreger (France). These companies use various strategies such as mergers & acquisitions, expansions, new product launches, and partnerships to strengthen their position in the market. Majorly adopted strategy by major players was Mergers & acquisition.