LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global mining chemicals market and the market is poised to experience spend growth of more than USD 9 billion between 2019-2024 at a CAGR of over 6% during the forecast period. Request Free Sample Pages.
Read the 125-page research report with TOC and LOE on “The Global Mining Chemicals Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
The exponential increase in the demand for lithium-ion batteries will act as one of the prominent growth drivers in the global mining chemicals market. This increase in demand for lithium-ion batteries has increased the frequency of mining activities to extract lithium. Such an increase in the frequency of mining activities will bring a considerable amount of investments in the mining chemicals market during the forecast period.
In South America, the abundance of reserves of metals, such as copper, lithium, and gold, coupled with government support in the form of favorable legislation and regulatory frameworks will promote metal mining activities. This will accelerate spend growth in the mining chemicals market in South America. However, the growing stringency in environmental regulations and a decline in the domestic consumption of coal for energy production will restrict spend growth in this market in Europe.
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Insights into the market pricing trends
- Forecasts of fluctuations in the prices of raw materials such as ammonia owing to the shortage in the supply of natural gas from which ammonia is synthesized will impact the overall price structure in the mining chemicals market.
- Caustic soda is a key chemical ingredient used in the treatment of mining wastewater. Forecasts of volatilities in the price of this chemical owing to the hike in the price of sodium chloride will have an inflationary impact on the mining chemicals market price.
Insights into the supply market that will have potential impacts on your procurement strategy
- It has been observed that mining chemicals suppliers with global footprints are entering into long-term supply contracts with vendors of raw materials such as ammonia to stay immune to the impact of fluctuations in prices of these commodities.
- Buyers are advised to partner with mining chemicals suppliers who are known to adopt automation and lean manufacturing techniques in their manufacturing processes. The adoption of lean manufacturing techniques can help suppliers to increase their plant productivity by up to 20%, which can help them in attaining greater economies of scale and thus, lower product prices for buyers.
Some of the top mining chemicals suppliers enlisted in this report
- BASF SE
- Chevron Phillips Chemical Co. LLC
- Exxon Mobil Corp.
- SABIC
- Solvay SA
- Akzo Nobel NV
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Some of the key topics covered in this report are:
- Mining chemicals market spend segmentation by region
- Mining chemicals supply market analysis
- Regional spend opportunity for mining chemicals suppliers
- Mining chemicals suppliers cost structure
- Total cost of ownership analysis in the mining chemicals market
- Mining chemicals pricing models analysis
- Category management objectives
- Cost saving opportunities in the mining chemicals market
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