Lead Mining Market is forecast to reach $9.69 billion by 2025, after growing at a CAGR of 1.7% during 2020-2025. The lead industry includes establishments developing mine sites, mining and preparing lead ores including smithsonite mining, sphalerite mining, willemite mining, calamine mining, cerussite mining, galena mining, lead ore mining, and lead-zinc ore mining. Lead is majorly being used in automotive industries to manufacture batteries. It is extracted from underground mines and usually found in traces of different metals such as silver, galena, copper, cadmium, and zinc. It has high economic value and is relatively economical to produce. With an increase in automotive and construction projects, improving technology the scope and potential for the global lead mining market is expected to significantly rise in the forecast period.
By Production Process – Segment Analysis
Secondary production process segment held a significant share in the lead mining market in 2019. Primary production from mined lead ores is the original source of all lead, but secondary production, where it is recovered from recycled products or from residues arising from the production process is mostly used and has more importance. According to the International Lead Association, secondary lead production now accounts for more than half of all lead produced throughout the world. In the North America more than 80% of lead comes from secondary production with Western Europe reporting over 60%.
By Application – Segment Analysis
The automotive segment held the largest share in the lead mining market in 2019. The primary usage of lead is in lead-acid batteries for automobiles and other vehicles. Typical lead-acid ignition batteries contain about 10 kilograms of lead in cars and must be replaced every 4 to 5 years More than 95% of the lead contained in batteries is recycled and recovered for use in new batteries. Lead-acid batteries also supply standby power for telecommunications systems and computer networks, and energy storage for wind and solar energy systems and hybrid-electric vehicles. It is also used in a variety of other applications, such as pigments, stationary batteries, and ammunition
Geography – Segment Analysis
Asia Pacific dominated the lead mining market with a share of more than 54.5% during the forecast period. China is projected to be the fastest-growing market for the lead mining market in Asia Pacific due to a numerous number of manufacturers. According to statistics from Natural Resources Canada, China was the largest producer, with 4.7 million tonnes of refined lead, which accounted for over 40% of the global production in the year 2017. Due to massive demand from automobile and electronics actively growing manufacturing base in Asia Pacific, it will propel the lead mining market during the forecast period.
Drivers – Lead Mining Market
The implementation of IoT in lead mining industry is enhancing decision-making capabilities and reduces production costs. IoT enables the sensors to pick up real-time data, analyze the data, facilitate equipment communication, identifies faulty equipment and derive insights from the data generated. With a fully integrated network, the mining equipment is monitored on a real-time basis and a report is projected on when repairs or maintenance are required. In the forecast period, implementation of IoT in the mining industry is expected to propel the market growth of lead mining.
Challenges – Lead Mining Market
Scientific research shows that accumulated ingested lead is toxic to human health and how accumulations of lead in the air, water and soil are toxic to ecosystems is changing both how lead is used and how it is disposed after use. According to the U.S. Agency for Toxic Substances and Disease Registry, environmental levels of lead have increased more than 1,000-fold over the past three centuries as a result of human activity. During this period, the U.S. Government established Federal regulations and made recommendations to limit lead emissions to protect public health in the United States. The mining process for extracting primary lead ore creates large piles of waste that contains lead toxins. If these piles are left out in the open, lead dust will be blown into surrounding areas, and lead can also, leach into the ground and contaminate water systems. Hence, the high toxicity of lead leading to pollution of water supplies and strict environmental regulations by the government are major factors hindering the growth of lead mining market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the insulated wall panels market. In 2019, the market of lead mining has been consolidated by the top five players accounting for xx% of the share. Major top 10 companies in the lead mining market are Anglo American Plc, Vedanta Resources Plc, BHP Billiton Ltd, Hudbay Minerals Inc., Southern Copper Corporation, Teck Resources Limited AND Henan Yuguang Gold and Lead Co. Ltd among others.
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