Increasing Investments and Operations in Global Mining Sector Boost Asia Pacific Mining Chemicals Market
The increase in mining activities worldwide has resulted in rising demand for mining chemicals. Further, the adoption of advanced mining technologies, such as automation and digitization, improves efficiency and environmental sustainability in mining operations globally. According to the World Bank, production of graphite, lithium, and cobalt is expected to rise by ~500% by 2050 to meet the growing demand for clean energy technologies.The region is witnessing an increase in mining activities due to the discovery of new mineral deposits, growing infrastructure developments, and increasing demand for minerals and resources. Governments and organizations in countries such as Australia, China, the Czech Republic, Portugal, the US, Canada, and others are actively promoting exploration and mining activities. As per a report by the Green Finance and Development Centre, investments in the metals and mining industries in China reached US$ 10 billion in the first half of 2023, a rise of 131% compared to the same period in 2022. Further, in October 2023, the government of Australia invested an additional US$ 3.9 billion in the Export Finance Australia-managed Critical Minerals Facility. The funding targeted support for mining projects aligned with Australia's Critical Minerals Strategy 2023-2030. The expansion activities and rising investments in the mining sector drive the demand for mining chemicals.
Asia Pacific Mining Chemicals Market Overview
Asia Pacific marks the presence of major mining companies such as Mitsubishi Materials Corporation, Jiangxi Copper Co Ltd, Aluminum Corporation of China Ltd, Coal India Limited, China Molybdenum Co Ltd, BHP, and others. Asia Pacific has 10 major surface mining projects-Green mine (China), Sangatta mine (Indonesia), Heidaigou mine (China), Oyu Tolgoi Copper-Gold mine (Mongolia), Gevra OC mine (India), Letpadaung Copper mine (Myanmar), Li mine (Thailand), FTB Project (Thailand), and Pasir mine (Indonesia).According to the report published by the US Geological Survey in 2022, China was the largest supplier of 25 non-fuel mineral commodities to several countries globally in 2021. Additionally, China is the producer of 16 critical minerals out of 25 listed minerals. According to research conducted by the Norwegian Institute of International Affairs in 2022, Central Asia recorded a presence of 38.6% of global manganese ore reserves, 30.07% of chromium, 20% of lead, 12.6% of zinc, 8.7% of titanium, 5.8% of aluminum, and 5.3% of copper.
China, Tajikistan, Australia, Vietnam, and other countries account for major antimony mine production and reserves worldwide. As per the World Mining Data 2022 report released by the Federal Ministry Republic of Austria, the mining production rate for minerals in Australia recorded a rise of 142.2% during 2000-2020. As per the International Energy Agency, Chinese companies doubled their investments in critical mineral exploration, especially in lithium projects. The demand for mining chemicals is directly proportional to the mining operations and mineral exploration activities in the region. Therefore, growth in mining operations bolsters the demand for mining chemicals in Asia Pacific.
Asia Pacific Mining Chemicals Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Mining Chemicals Market Segmentation
The Asia Pacific mining chemicals market is segmented based on type, mineral type, application, and country.In terms of type, the Asia Pacific mining chemicals market is segmented into flotation chemicals, solvent extractants, grinding aids, and others. The flotation chemicals segment is sub-segmented into frothers, flocculants, depressants, collectors, and others. The flotation chemicals segment held the largest share in 2022.
By mineral type, the Asia Pacific mining chemicals market is segmented into base metals, non-metallic minerals, precious metals, and others. The non-metallic minerals segment held the largest share in 2022.
In terms of application, the Asia Pacific mining chemicals market is segmented into mineral processing, wastewater treatment, and others. The mineral processing segment held the largest share in 2022.
Based on country, the Asia Pacific mining chemicals market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific mining chemicals market in 2022.
Orica Ltd, Kemira Oyj, BASF SE, Clariant AG, Dow Inc, AECI Ltd, Nouryon Chemicals Holding BV, Solvay SA, and Arkema SA are some of the leading companies operating in the Asia Pacific mining chemicals market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific mining chemicals market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific mining chemicals market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
Companies Mentioned
- Orica Ltd
- Kemira Oyj
- BASF SE
- Clariant AG
- Dow Inc
- AECI Ltd
- Nouryon Chemicals Holding BV
- Solvay SA
- Arkema SA
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 132 |
Published | June 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 6013.78 Million |
Forecasted Market Value ( USD | $ 8887.17 Million |
Compound Annual Growth Rate | 5.0% |
Regions Covered | Asia Pacific |
No. of Companies Mentioned | 9 |