New Wisdom Investment Limited

Mining chemicals market worth $38.01bn by 2024

(Aug 12, 2016)

The global mining chemicals market is expected to reach US$38.01 billion by 2024, according to a report from Grand View Research.

Despite only experiencing a partial recovery at present, a “positive mining industry outlook” for India, China, Australia, Peru, and Chile was expected to drive the market over the period, according to the research.

Exploration in particular was set to make a big comeback, increasing demand for certain chemicals, while there was a need to find new ways of extracting a variety of elements deemed to be crucial over the next decade or so.

“Australia has the third largest rare earth metal reserves in the world,” a release promoting the research stated. “In Russia, companies have been investing increasingly in the development of new extraction techniques to recover uranium.

“These factors are likely to have a positive impact on growth.

“Decrease in ore quality of zinc, lead, copper, and nickel is expected to promote utilisation of sophisticated technologies requiring frothers, flocculants, grinding aids, and solvent extractants.”

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