The global Biomining market generated revenue of around USD 1,500 million in 2020 and anticipated to grow at a CAGR of over 13.2% during the forecast period from 2021 to 2027 to reach around USD 3,600 million in 2027.
The process through which microorganisms are used to extract metals from mine waste or rock ores is known as biomining or bioleaching. The extracted metals are usually bound up in solid minerals and certain microbes help in oxidize these metals and allow them dissolve in water. Sometimes, biomining techniques are also used to clean sites that are polluted with metals.
Key Trends in Global Biomining Market
Increasing concern towards environmental pollution
The world is witnessing increased environmental pollution, which is expected to drive the growth of the Biomining market globally. Biomining aids in the stabilisation of sulphate toxins released during the mining process while causing no harm to the environment. Furthermore, these toxins can cause health problems in miners, and the use of biomining would aid in reducing such problems.
Besides, reducing health problems and environmental pollution, biomining is a cost-effective technique as compared to smelting process. This is further expected to drive the demand in the market.
Impact of COVID 19 on Biomining Market
Certain actions taken by governments of many countries to control the spread of COVID 19, has slightly limited the growth of biomining market, in current scenario. Many mining centers are working with limited number of resources has reduced the overall production; thus, market is impacted. Further, it is observed that controlled movement of people, followed by disturbed import-export has also impacted the growth of this market. COVID 19 resulted into decline of 10% in total revenue generated by the global biomining market as compare to 2019.
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Global Biomining Market by Type of Metal Extracted Insights
Copper, iron, gold, zinc, and cobalt are some of the most common metals extracted through the biomining process. In 2020, the copper segment accounted for the largest share of the biomining market.
Global Biomining Market by Type of Process Insights
Slope, Heap, and In-situ are the key process types through which biomining is performed. In 2020, Slope biomining process accounted for the largest share of biomining market.
Global Biomining Market by Application Insights
Global Biomining market is segmented based on application as mining and metal pollution control. Mining accounted for the largest share (over 90%) of the biomining market in 2020.
Global Biomining Market by Regional Insights
In 2020, Europe was the largest market for Biomining, accounting for more than 30% of total revenue generation. Countries such as Germany and the United Kingdom have been observed to adopt and promote green activities such as biomining, resulting in the largest share. Increasing green mining activities in China and the Middle East are expected to drive significant growth in Asia Pacific and the Middle East during the forecast period.
Global Biomining Market Competitive Landscape
Most prominent players in the global Biomining market include Rio Tinto Plc, Freeport-McMoRan Copper and Gold Inc, Rio Algom Ltd, BHP, BacTech, Anglo American, Teck Resources Ltd, Nyrstar NV, Bindura Nickel Corporation, Newmont Corporation, Denison Mines Corp and others. The report covers very detailed profiles of these key players.
Global Biomining Market by Type of Metal Extracted, 2015 – 2027
Global Biomining Market by Type of Process, 2015 – 2027
Global Biomining Market by Application, 2015 – 2027
· Metal Pollution Control
Global Biomining Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Horizontal Directional Drilling (HDD) Market: Key Players
· Rio Tinto Plc
· Freeport-McMoRan Copper and Gold Inc
· Rio Algom Ltd
· Anglo American
· Teck Resources Ltd
· Nyrstar NV
· Bindura Nickel Corporation
· Newmont Corporation
· Denison Mines Corp
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