The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Understanding several aspects of mining flotation, Persistence Market Research (PMR) has presented weighted analysis and insights on the global market for mining flotation chemicals in its recently published report titled “Mining Flotation Chemicals Market: Global Industry Trend Analysis (2013-2017) and Forecast (2018-2026)”. Several facets of the market have been studied and their respective magnitudes across regions in the globe that influence the growth of the global market are an analyzed. Various trends, restraints, growth drivers, opportunities and developments are covered in this analytical research report.
According to analysts, the global market for mining flotation chemicals is estimated to touch a value of over US$ 3,500 Mn by end of the assessment period (2026) from a value of around US$ 2,200 Mn in 2017. The global market is projected to expand at a CAGR of 5.7% during the forecast period (2018-2026).
Recovery and Stabilization of the Mining Sector to Influence Global Market Growth
The global mining sector is cyclical in nature that depends upon the performance of downstream end use sectors. This correlates the mining industry with the overall global economic scenario. Relatively low political turmoil, economic growth and growing protectionism are few key aspects that have led to reduced demand for commodities and also weakened the investor confidence, consequently resulting in subdued growth of the global mining sector in the recent past. However, the mining industry in Latin America and North America especially in countries of Peru and Chile is expected to reflect steady pace in the years to follow, thus creating opportunities for mining companies. This is expected to have a positive influence on the growth of the global mining flotation chemicals market.
Commodity prices moved toward stabilization in the second half of 2016. This coupled with increase in demand for various minerals across the globe led to an upsurge in ore exploration and procurement, thus pushing the demand for mining flotation chemicals across various regions. In addition, growing demand for flotation chemicals is expected to be driven by the growing construction industry. Rising investments in infrastructural development is expected to surge the demand for various minerals and commodities. Few trends such as capacity expansion and raw material supply security, innovative product development and enhancement of productivity are influencing the growth of the global mining flotation chemicals market.
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Key Segmental Highlights of the Global Mining Flotation Chemicals Market
Grinding aids are widely used for mining flotation and account for a major share in the global market. On the other hand, collectors are the second most lucrative segment in the product type category and is second largest with respect to value. As per research, this collectors are expected to witness sales around US$ 1 Bn by the end of the year of assessment (2026). Flotation process used for sulfide ores is expected to reflect a higher value in the coming years. Most of the sulfide ores are processed using mining flotation chemicals. The sulfide ore segment in the ore type category is estimated to reach a value of over US$ 2 Bn by end of the assessment period and is projected to expand at a steady rate during this timeline.
As per the research, China is expected to showcase higher market attractiveness. It is expected to account for almost 1/3rd of the total market share during the analysis period. China is expected to dominate the global market in terms of both consumption and production and is estimated to touch a billion dollar milestone in valuation by end of the assessment period (2026). Asia Pacific excluding China is the second largest region, observed Persistence Market Research.
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