Market research company Frost & Sullivan (F&S) says growth opportunities in the global mining chemicals market look promising over the next six years, as demand for ferrous metals, industrial minerals and fuel ore extraction rises.

F&S forecasts that the global mining chemicals market will earn revenues of about $2.9-billion by 2025 on the back of a compound annual growth rate of 6.7% between 2018 and 2025.

While mining chemicals manufacturers are developing and integrating digital technologies to augment application efficiencies for their mining customers, end-users are embracing chemistry formulations and compositions to advance operational orderliness and mineral processing steps.

“Major mining companies have been keen to deploy tailor-made chemicals, green mining solutions and innovative mineral extraction technologies that are capable of extracting more mineral content from low-grade mineral ores and waste products. In addition, some companies have been instrumental in developing antiscalants that meet the challenges of harsh ore processing conditions.

“Such factors are expected to drive the demand for high-end mineral processing products, thereby opening new avenues for market growth,” states F&S chemicals, materials and nutrition research analyst Ganesh Dabholkar.

F&S explains that, with the stringent environmental and health policies in the mining sector, demand for sustainable mining chemicals and more efficient use of water have become paramount.

To succeed in a highly consolidated and competitive environment, Dabholkar recommends that market participants provide innovative technological solutions to optimise product performance.

He also suggests that market players develop efficient supply chains at regional and global levels through partnerships and local presence; expand organically through production capacity and portfolio expansion, as well as inorganically through the acquisition of companies with niche product portfolios; and build long-term pricing contracts with raw-material suppliers to effectively manage raw-material price fluctuations for sustainable profits.