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Global mining chemicals market: 7.8% CAGR growth forecast between 2012-16
Global Mining Chemicals Market 2012-2016 - a new market research report on 2014-03-26 08:29:04
The Global Mining Chemicals market is to grow at a CAGR of 7.75 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing level of complications in the mineral ore extraction processes over the globe. The Global Mining Chemicals market has also been witnessing increasing applications in the Explosives & Drillings sector. However, the uncertain growth and low profitability of the Mining industry could pose a challenge to the growth of this market.

One of the major trends being witnessed in the market is the industry-specific offerings by vendors. In terms of competitive offerings, two kinds of player exist in the Global Mining Chemicals market. The first are companies with generic offerings, and the second are companies with industry-specific offerings. In recent years, many vendors are increasingly focusing on offering specific chemicals to the Global Mining Chemicals market. The major players in the market, such as BASF, are aligning their businesses with customer needs for a specific industry.

One of the major drivers in this market is the increasing complexity in the mineral ore extraction process. This is mainly because the new ore deposits are becoming more difficult to exploit, especially those that are located in remote places with low-grade mineral deposits. This has resulted in the increased use of mining chemicals in complex mining ore extractions.

One of the major challenges faced in this market is the slow growth of the Global Mining industry. The Global Mining industry is witnessing a decline in profitability, thereby curtailing the growth of the Global Mining Chemicals market.

The key vendors dominating this market space are AECI Ltd., BASF Ltd., Clariant AG, and Cytec Industries Inc.

Other vendors are Akzo Nobel Surface Chemistry AB, Ashland Inc., Dow Chemical Company, Orica Ltd., and SNF FloMin, Inc.

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