As an essential component of the mining industry, chemicals play a crucial role in various processes, from ore extraction to processing. Understanding the key statistics and trends within the mining chemicals industry is imperative for stakeholders and decision-makers to make informed choices and navigate this dynamic sector effectively. In this blog post, we will delve into the latest statistics and insights shaping the mining chemicals industry landscape.
The Latest Mining Chemicals Industry Statistics Explained
The global mining chemicals market size was valued at USD 23.20 billion in 2016.
The statistic indicates that the global mining chemicals market was worth USD 23.20 billion in 2016. This figure represents the total value of chemicals used in various mining processes worldwide during that year. Mining chemicals play a crucial role in the extraction and processing of minerals, metals, and other resources, enhancing efficiency, productivity, and environmental sustainability in the industry. The size of the market suggests significant demand for these chemicals within the mining sector, reflecting the scale and importance of the global mining industry and its reliance on specialized chemicals for operations and production processes.
It is expected to attain USD 38.01 billion by 2024, at a CAGR of 6.4% over the forecast period.
This statistic represents the projected revenue of a certain market, indicating that it is anticipated to reach USD 38.01 billion by the year 2024. The growth of this market is expected to follow a Compound Annual Growth Rate (CAGR) of 6.4% over the forecast period. The CAGR is a measure of the average yearly growth of the market, providing insight into the consistent growth rate expected over the specified time frame. This statistic suggests that the market is likely to experience steady expansion in the coming years, with the potential for increased revenues as a result of various factors influencing its growth trajectory.
Grinding aids segment in mining chemicals market accounted for USD 3.04 billion in 2017.
The statistic ‘Grinding aids segment in mining chemicals market accounted for USD 3.04 billion in 2017’ indicates the total value of sales generated by grinding aids within the mining chemicals market in that year. This suggests that there is a significant demand for grinding aids within the mining industry, likely driven by factors such as the need for increased efficiency in ore processing and extraction. The substantial value of USD 3.04 billion highlights the importance and scale of the grinding aids segment within the overall mining chemicals market, potentially reflecting the industry’s focus on optimizing operations and maximizing production output.
Asia Pacific was the largest market for mining chemicals and accounted for 40% of the market share in 2016.
The statistic indicates that in 2016, the Asia Pacific region captured a significant portion of the global market for mining chemicals, representing 40% of the total market share. This suggests that the demand for mining chemicals in countries within the Asia Pacific region, including but not limited to China, Australia, and India, was notably high compared to other regions. Factors such as strong economic growth, industrialization, and a thriving mining industry in the region likely contributed to this dominance in the market for mining chemicals. As the largest market, Asia Pacific’s consumption and investment in mining chemicals play a vital role in shaping the overall trends and dynamics of the global mining chemicals industry.
The frothers segment accounted for 12.38% market share in 2019 in the overall mining chemicals category.
The statistic “The frothers segment accounted for 12.38% market share in 2019 in the overall mining chemicals category” indicates that within the broader market for mining chemicals in 2019, the frothers segment specifically held a 12.38% share. This means that out of the total market for mining chemicals, which includes various types of chemicals used in mining operations, the frothers segment specifically contributed to just over 12% of the market activity. This statistic provides valuable insight into the relative importance and presence of frothers in the mining chemicals category, highlighting its significance and impact within the overall market landscape for such products.
The mining chemicals market for mineral processing was over USD 6 billion in 2017.
The statistic indicates that the global market value of mining chemicals specifically used in mineral processing exceeded USD 6 billion in 2017. These specialized chemicals play a crucial role in various stages of mineral processing operations, such as flotation, separation, grinding, and dewatering, to improve efficiency, recovery rates, and overall process economics. The significant market value reflects the widespread use and demand for these chemicals in the mining industry, driven by factors like increasing mineral production activities, technological advancements in processing methods, and the need for sustainable and environmentally friendly solutions.
By 2025, the flotation chemicals segment is projected to hold 20% of the total market share.
This statistic indicates that in the year 2025, the flotation chemicals segment is estimated to capture 20% of the total market share within the industry. This projection suggests that the flotation chemicals segment, which includes chemicals used in flotation processes for separating minerals, metals, and other substances from ore, is expected to have a significant presence and influence in the market by 2025. Companies operating in this sector may experience growth opportunities and increased demand for their products, reflecting the importance of flotation chemicals in various industrial processes related to mining and mineral extraction.
In 2020, North America accounted for more than 24.8% of the total exploitable reserves globally.
The statistic states that in 2020, North America held more than 24.8% of the total exploitable reserves worldwide, indicating the significant presence of natural resources in the region. This figure suggests that North America plays a significant role in global resource management and extraction activities. The high percentage of exploitable reserves in North America underscores the region’s potential for energy and mineral production, which can have implications for economic activities, environmental sustainability, and geopolitical dynamics on both a regional and global scale. Furthermore, this statistic highlights the importance of assessing and managing resource distribution and utilization to ensure sustainable development and equitable access to resources.
Total market value of specialty mining chemicals was estimated to be $10.9 billion in 2019.
The statistic indicates that the collective value of specialty mining chemicals in the market was calculated to be $10.9 billion in the year 2019. This figure reflects the total worth of specialized chemicals utilized in the mining industry for various purposes such as mineral processing, extraction, and waste management. The high market value underscores the significance of these chemicals in enhancing mining processes and efficiency. This statistic provides insight into the economic importance and scale of the specialty mining chemicals sector, highlighting the substantial financial investment made by companies in these chemical products for optimizing their mining operations and productivity.
Demand for specialty mining chemicals is projected to grow at a CAGR of 4.5% from 2020 to 2030.
This statistic indicates that the demand for specialty mining chemicals, which are chemicals used in the mining industry for various processes such as ore extraction and mineral processing, is expected to increase at a Compound Annual Growth Rate (CAGR) of 4.5% from 2020 to 2030. This growth projection suggests a steady and consistent rise in the demand for these chemicals over the next decade. Factors driving this growth could include trends in the mining industry such as increasing exploration activities, advancements in mining technologies requiring more specialized chemicals, and the overall expansion of the global mining sector. The CAGR of 4.5% signifies the average annual growth rate that can be expected over the specified time period, serving as a valuable indicator for industry stakeholders and investors to plan and strategize for the future.
The market for specialty mining chemicals in copper mining is expected to grow at a rate of 3.8% through 2025.
This statistic indicates that the market for specialty mining chemicals in copper mining is expected to expand at a steady pace of 3.8% annually until the year 2025. This growth rate suggests a positive outlook for the industry, potentially driven by increased demand for copper as well as advancements in mining technologies. Companies producing specialty mining chemicals may benefit from this growth trend, as it signifies an expanding market with opportunities for business expansion and innovation. Monitoring and adapting to this projected growth rate can help industry players make informed strategic decisions to capitalize on the anticipated market expansion in the copper mining sector.
The coal mining segment in China dominated the Asia Pacific mining chemical market in 2015.
The statistic indicates that in 2015, the coal mining industry in China had the largest share of the Asia Pacific mining chemical market compared to other countries in the region. This dominance suggests that China’s coal mining sector was the primary consumer of mining chemicals, which are substances used in the extraction and processing of minerals. The prominence of the Chinese coal mining segment in the market could be attributed to the country’s significant coal production, reliance on coal for energy generation, and potentially high levels of mineral processing activities within the sector. This statistic highlights the sector’s importance in driving the demand for mining chemicals in the Asia Pacific region during 2015.
The global mining chemicals market for non-metal minerals was valued at over USD 3.3 billion in 2018.
This statistic indicates that the global market for mining chemicals used in the extraction and processing of non-metal minerals, such as coal, minerals, and rare earth elements, exceeded a value of USD 3.3 billion in the year 2018. Mining chemicals play a crucial role in various stages of mineral extraction processes, including flotation, leaching, and mineral separation. The significant market value reflects the widespread use of these chemicals in the mining industry to enhance efficiency, productivity, and profitability. The growth of the market suggests a continued demand for mining chemicals to support the extraction and processing of non-metal minerals worldwide.
Grinding aids accounted for 29% market share in the Australian mining chemicals market in 2018.
This statistic indicates that grinding aids, a type of chemical additive used in the mining industry to improve the efficiency of the grinding process, held a substantial market presence in Australia in 2018, capturing 29% of the market share within the broader category of mining chemicals. This suggests that grinding aids were commonly used by mining companies in Australia during that year. The high market share may be attributed to the benefits provided by grinding aids in terms of enhancing the grinding efficiency, increasing production rates, and reducing energy consumption. This statistic highlights the significance of grinding aids as a key component in the mining chemical sector in Australia during the specified period.
Explosives & drilling application is projected to grow at a CAGR of 2.93% during 2022-2027.
The statistic ‘Explosives & drilling application is projected to grow at a CAGR of 2.93% during 2022-2027’ indicates that the market for explosives and drilling applications is expected to increase at a compound annual growth rate (CAGR) of 2.93% over the period from 2022 to 2027. This suggests a positive trend in the demand for explosives and drilling services during the specified time frame, with a steady and consistent growth rate expected annually. This projection can be used by industry analysts, investors, and businesses to make informed decisions regarding investments, resource allocation, and strategic planning within the explosives and drilling sector.
The mining chemical market in Europe is projected to grow at a CAGR of 5.45% during the period 2021-2026.
This statistic indicates that the mining chemical market in Europe is expected to experience a Compound Annual Growth Rate (CAGR) of 5.45% over the five-year period from 2021 to 2026. A CAGR provides a smooth representation of the growth rate over multiple years by considering the effect of compounding. The projected growth rate suggests that the market for mining chemicals is expected to expand steadily over the specified period, reflecting potentially increasing demand for these products within the European mining industry. This information can be valuable for businesses, investors, and policymakers to understand the growth trends and forecast future market dynamics in the mining chemical sector within Europe.
In 2020, Cytec Solvay Group, a key market player, contributed over 11% to the global mining chemical market revenue.
The statistic indicates that in 2020, Cytec Solvay Group, a significant player in the mining chemical market, was responsible for generating more than 11% of the total revenue in the global mining chemical market. This suggests that Cytec Solvay Group holds a substantial market share and plays a crucial role in the industry. The company’s contribution of over 11% highlights its strength and influence within the mining chemical market, showcasing its importance as a key player in driving revenue and shaping the overall landscape of the industry during that year.
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