Report : Europe Mining Chemicals Market Forecast to 2030 - Regional Analysis - by Type [Flotation Chemicals (Frothers, Flocculants, Depressants, Collectors, and Others), Solvent Extractants, Grinding Aids, and Others], Mineral Type (Base Metals, Non-Metallic Minerals, Precious Metals, and Others), and Application (Mineral Processing, Wastewater Treatment, and Others)
At 3.8% CAGR, Europe Mining Chemicals Market is Projected to be Worth US$ 1,763.75 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe mining chemicals market was valued at US$ 1,309.42 million in 2022 and is expected to reach US$ 1,763.75 million by 2030, registering a CAGR of 3.8% from 2022 to 2030. Increasing investments and operations in global mining sector and rising exploration activities of rare earth metals are among the critical factors attributed to the Europe mining chemicals market expansion.
The increase in mining activities worldwide has resulted in rising demand for mining chemicals. Further, the adoption of advanced mining technologies, such as automation and digitization, improves efficiency and environmental sustainability in mining operations globally. According to the World Bank, production of graphite, lithium, and cobalt is expected to rise by ~500% by 2050 to meet the growing demand for clean energy technologies.
Governments and organizations in countries such as the Czech Republic, Portugal, and others are actively promoting exploration and mining activities. In November 2023, a tentative agreement was achieved between the European Parliament and the Council about the Critical Raw Materials Act (CRMA). The regulation will affect businesses in a variety of ways, including the manufacturing sector, investors, non-EU players, and the mining and processing industries. By early 2024, the CRMA may rank among the fastest-passed EU regulations ever. Its goal is to secure Europe's supply of resources such as magnesium, lithium, nickel, and other elements needed for the green transition and strategic industries. The expansion activities and rising investments in the mining sector drive the demand for mining chemicals.
On the contrary, stringent government regulations related to hazardous mining chemicals hamper the growth of Europe mining chemicals market.
In terms of type, the Europe mining chemicals market is segmented into flotation chemicals, solvent extractants, grinding aids, and others. The flotation chemicals segment held 60.9% share of the Europe mining chemicals market in 2022, amassing US$ 796.85 million. It is estimated to garner US$ 1,077.37 million by 2030 to expand at 3.8% CAGR during 2022-2030. The flotation chemicals segment is sub-segmented into frothers, flocculants, depressants, collectors, and others.
By mineral type, the Europe mining chemicals market is categorized into base metals, non-metallic minerals, precious metals, and others. The non-metallic minerals segment held 67.2% share of Europe mining chemicals market in 2022, amassing US$ 879.42 million. It is predicted to garner US$ 1,192.48 million by 2030 to expand at 3.9% CAGR during 2022-2030.
In terms of application, the Europe mining chemicals market is segmented into mineral processing, wastewater treatment, and others. The mineral processing segment held 67.9% share of the Europe mining chemicals market in 2022, amassing US$ 888.83 million. It is estimated to garner US$ 1,188.73 million by 2030 to expand at 3.7% CAGR during 2022-2030.
Based on country, the Europe mining chemicals market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Russia held 47.5% share of Europe mining chemicals market in 2022, amassing US$ 621.97 million. It is projected to garner US$ 854.71 million by 2030 to expand at 4.1% CAGR during 2022-2030.
Key players operating in the Europe mining chemicals market are Orica Ltd, Kemira Oyj, BASF SE, Clariant AG, Dow Inc, AECI Ltd, Nouryon Chemicals Holding BV, Solvay SA, and Arkema SA, among others.
2022: BASF and Moleaer formed a strategic partnership to enhance copper recovery in the mining industry.
2021: Solvay launched an exclusive digital knowledge hub, the Mining Chemicals Handbook, which provides 24/7 access to relevant mining chemical application information for those active in this demanding sector.
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