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Mining Chemicals Market Analysis
The global mining chemicals market is expected to witness spend growth of more than USD 9 billion between 2019-2024, with spend momentum accelerating at a CAGR of over 6%. This increasing procurement of mining chemicals will be primarily driven by mining companies that are targeting low-grade ores due to their abundance and the efficient recovery of minerals from such ores. The aging of mines and the increasing need for deep, surface-mining activities will create requirements of chemicals in the mining processes to extract high-quality ores. This is contributing to the demand growth in the mining chemicals market. Lithium-ion batteries are witnessing an exponential demand owing to their different applications, such as electric vehicles, consumer electronics, and solar energy units. To cater to this demand, mining companies are accelerating their activities of extracting lithium which is driving the demand growth in the mining chemicals market.
Top Spending Regions in the Mining Chemicals Market
While an exponential increase in metal mining activities will accelerate spend growth, stringent environmental regulations and decline in coal production will restrict the same in the mining chemicals market across geographies.
The presence of abundant reserves of metals, such as copper, lithium, and gold, along with government support in the form of favorable legislation and regulatory frameworks is favoring metal mining activities in South America. This is driving an exponential demand in the mining chemicals market. Last year, Chile accounted for nearly 33% of global lithium output, and the country's lithium reserves accounted for nearly 50% of global reserves of the metal which brought considerable investments into the mining chemicals market in this region.
Mining activities are expected to slow down in Europe owing to the stringent environmental regulations and a decline in the domestic consumption of coal for energy production. The lack of government support is expected to lead to a slump in mining activities in the region. This slump in mining activities is expected to decelerate spend momentum in the mining chemicals market in Europe.
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Insights into Some of the Leading Mining chemicals Suppliers
Volatile mining chemicals price trends coupled with sub-optimal supplier partnership is resulting in declining ROI of a majority of buyers in this market. In view of this, the mining chemicals market procurement intelligence report has enlisted the top suppliers, best selection criteria, and negotiation strategies for such suppliers. These insights will aid buyers to take a collaborative approach with the mining chemicals suppliers to identify areas where they can optimize their procurement spend. The top mining chemicals suppliers highlighted in this report include:
Criteria to select suppliers in this dynamic mining chemicals market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
PART 01: EXECUTIVE SUMMARY
PART 02: MARKET INSIGHTS
PART 03: CATEGORY PRICING INSIGHTS
PART 04: COST-SAVING OPPORTUNITIES
PART 05: BEST PRACTICES
PART 06: CATEGORY ECOSYSTEM
PART 07: CATEGORY MANAGEMENT STRATEGY
PART 08: CATEGORY MANAGEMENT ENABLERS
PART 09: SUPPLIERS SELECTION
PART 10: SUPPLIERS UNDER COVERAGE
PART 11: US MARKET INSIGHTS
PART 12: CATEGORY DEFINITION
PART 13: APPENDIX
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.