Floatation is a popularly used technique for processing sophisticated ore bodies to extract minerals. According to research analysts, the global mining flotation chemicals market is set to surge at a CAGR of 4.7% between 2014 and 2024. The global mining flotation chemicals market was valued at US$8.0 bn in 2014. The market’s growth will be driven by the increasing number of complexities in ores and a subsequent need to simplify them. Rampant urbanization is also expected to support the emergence of mining floating chemicals market in the coming few years.
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Optimization in Mineral Extraction Processes Drives Global Market
The global mining flotation chemicals market is also expected to benefit from the booming construction and manufacturing industry. The ongoing technological advancements in the mining processes and the growing demand for purer minerals has completely redefined growth patterns for the overall market. The demand for mining flotation chemicals is also being propelled by the drop in the quality of ores and geographical restrictions pertaining to mineral deposits. Mining flotation chemicals are a great help in maximizing the extraction of minerals from aging mineral deposits, which is leading to poor quality of mineral ores.
The global mining flotation chemicals market is segmented on the basis of ore type, chemical type, and geography. The types of ores available in this market are sulfide ore and non-sulphide ore. The chemicals used in this market are frothers, collectors, dispersants, activators, depressants, and flocculants.
Sulfide Ores Segment Remains Significant Share Holder
About 50% of total mining flotation chemicals are used for processing sulfide ores. A study indicates that approximately 70% of mining flotation chemicals were used for sulfide ores in 2014, a percentage that is likely to rise by one by the end of 2020. In the overall mining industry, 95% of all sulfide ore that could contain non-ferrous and precious metals is made with the help of mining flotation chemicals.
Collectors Segment Holds Dominant Stance in Global Market
Out of all the chemicals used in this market, the collectors segment held a significant share of 27% in the overall market as of 2014. The dispersants, frothers, and activators segments will also follow these footsteps to make their mark in the overall market. The popularly used collectors are Xanthates, used for processing minerals across the globe.
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Asia Pacific Anticipated to be Largest Consumer of Mining Flotation Chemicals
Geographically, this market is segmented into North America, Western Europe, Eastern Europe, Latin America, Japan, Middle East and Africa, Japan, and Asia Pacific excluding Japan (APEJ). Research indicates that the Asia Pacific region is the biggest consumer of mining chemical, accounting for a dominant share in the overall market. The success of this market in this region is very much attributable to the seamlessly flowing investment in the mining industry.
The top players operating in the global mining flotation chemicals market are Nasaco International LLC, Cytec Industries Inc., Kemira Oyj, Huntsman Corporation, Clariant, BASF SE, Air Products & Chemicals Inc., Cheminova A/S, Beijing Hengju Chemical Industry Co. Ltd., and Chevron Philips Chemical Company LLC.