The Floatation Chemicals produce foam or forth that helps to separate floated mineral and the pulp containing waste. Further, the process involves crushing and grinding the ore to a fine size. The grinding process separates individual mineral particles from waste rock and other mineral particles. Thus, the demand for mining floatation chemicals is projected to increase owing to the increase in coal mining activities across the region. Coal mining activities are increasing to meet the energy requirements of various manufacturing industries, and thus industrial development is supporting the demand for Floatation Chemicals. The use of coal as a primary source of energy for fuels and petrochemicals is expected to favor market growth during the forecast period.
Mining Flotation Chemicals Market is projected to be worth USD 2.8 Billion by 2030, registering a CAGR of 2.8% during the forecast period (2021 - 2030).
Market Segmentation:
The Global Mining flotation chemicals market size has been segmented on the basis of Ore Type, Product, and Region.
Based on Ore Type, the Global Mining flotation chemicals market size has been segregated into sulfide and non-sulfide. The sulfide segment is expected to dominate the global market owing to its wide applications in mining industry.
By Product, the global market is divided into frothers, collectors, activators, dispersants, flocculants, depressants, and others.
Competitive Analysis:
Some of the leading players in the Global Mining flotation chemicals market size are BASF SE (Germany), Solvay S.A. (Belgium), Coogee Chemicals (Australia), QixiaTongDa Flotation Reagen (China), Beijing Hengju Chemical Industry (China), YantaiHumon Chemical Auxillary (China), Cytec Industries. (U.S.), Clariant AG (Switzerland), Cheminova A/S (Denmark), Kemira Oyj (Finland), Huntsman Corporation (U.S.), CTC Mining (Canada), Air Products and Chemicals (US) and Chevron Phillips Chemical Company (US).
Regional Analysis:
The Asia-Pacific market is expected to register a healthy CAGR during the forecast period owing to the expanding electric vehicles industry. The increasing demand for electric vehicles has surged the production of batteries in the region, which has increased the use of minerals such as lithium, graphite, cobalt, and nickel in the manufacturing of electric vehicle batteries. Furthermore, the rise in demand for platinum in the manufacturing of computers, hybrid cars, flat-screen TVs, and medical devices is expected to propel the demand for Mining Flotation Chemicals in the region.
The North American market is estimated to witness substantial growth in terms of CAGR due to the increase in medical expenditure, which is propelling the application of mineral and metals in medical devices and medicines. For instance, copper is used in MRI scanners and silver is majorly used in antibiotics, furthermore, silver is an active medical product that helps to prevent bacteria and enhances the healing process. Thus, the high consumption of minerals and metals in the healthcare industry is positively expected to influence the growth of the Mining flotation chemicals market size in the region during the review period.
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