Transparency Market Research has released a new market report titled "Mining Chemicals (Frothers, Flocculants, Collectors, Solvent Extractants, Grinding Aids and Others) Market for Mineral Processing, Explosives & Drilling, Water & Wastewater Treatment and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019," which observes that the mining chemicals market demand in 2012 was worth USD 18.00 billion and is expected to reach USD 28.13 billion by 2019, growing at a CAGR of 6.6% from 2013 to 2019. In terms of volume, the demand for mining chemicals was 6,857.4 kilo tons in 2012.
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Mining chemicals form an integral part of all the mining activities carried out globally. Mining chemicals help to improve the efficiency of mineral extraction from ores. Mining chemicals are used for various mineral processing applications. Global demand for mining chemicals is mainly driven by the decreasing ore grades throughout the globe in turn requiring extensive mineral processing. The economic development of Asia Pacific has led to an increase in demand for minerals and rare earth metals, thus, increasing the demand for mining and subsequently mining chemicals. These factors are expected to remain the major driving force for the mining chemicals market. The complications involved in the transportation and logistics of mining chemicals is expected to be a key challenge for market participants.
Mining chemicals used for water and wastewater treatment applications were the predominant application segment, accounting for over 40% of total demand in 2012. The demand for water and wastewater treatment chemicals is expected to witness a robust growth in the next few years due to ever increasing stringent environment regulations on tailings management. Water and wastewater treatment chemicals are used for various water treatment applications to avoid toxic discharge from tailings. Increasing stringent government norms on toxic discharges are anticipated to be the key driving factor of the mining chemicals market for the next few years.
Asia Pacific accounted for over 45% of the total mining chemicals market in 2012, followed by Europe and North America. Asia Pacific is also expected to be the fastest growing regional market in terms of both mining chemicals consumption and production. This can be attributed to the growing economies in this region. The economic development coupled with growing investments in infrastructure and construction projects has resulted in Asia Pacific emerging as a key destination for mining chemicals producers. This has encouraged various manufacturers to concentrate their efforts on capacity expansion in Asia Pacific to increase their production. North America is the other major region where consumption of mining chemicals was very strong and is expected to grow with a CAGR of about 5.4% in terms of volume from 2013 and 2019.
Cytec Industries, BASF SE, Ashland Inc., Chevron Phillips Chemical Company, Dow Chemicals Company and SNF FloMin are some of the major participants in the mining chemicals industry.
Mining Chemicals Market - Product Segment Analysis
· Solvent extractants
· Grinding aids
· Others (Modifiers, defoamers, etc.)
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Mining Chemicals Market - Application Segment Analysis
· Mineral processing
· Explosives and drilling
· Water and Wastewater treatment
· Others (Exploration, analysis, etc.)
Mining Chemicals Market - Regional Analysis
· North America
· Asia Pacific
· Rest of the World (RoW)
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