The Mining Chemicals Market was valued at USD 11.99 Billion in 2022 and is projected to experience a compound annual growth rate (CAGR) of 6.1% during the forecast period. The increase in market revenue can be attributed to several factors, including the growing demand for phase change materials in the construction sector, efforts to reduce greenhouse emissions through stringent regulations, advancements in the utilization of bio-based Phase Change Materials (PCMs), and other contributing factors. Advanced PCMs, in particular, are utilized as materials that absorb heat, storing enough energy to provide usable heating or cooling.

Numerous organizations offering Cold Chain solutions are adopting PCM technology for the transportation of pharmaceuticals and drugs. Additionally, logistics and supply chain companies are incorporating PCM technology into the transport of temperature-sensitive materials. As regulatory constraints, such as the rigorous code of federal standards set by the U.S. Food and Drug Administration (FDA), have evolved within the pharmaceutical industry, phase change materials have substantial growth potential in the cold chain transportation of pharmaceuticals. These factors are expected to stimulate the market's revenue growth.

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Top Companies: Kemira OYJ (Finland), Dow Chemical Company (US), ArrMaz Products, L.P. (US), AkzoNobel N.V. (Netherlands), BASF SE (Germany), Clariant International Limited (Switzerland), Cytec Industries Inc. (US), HuntsOrica Ltd. (Australia), man International LLC (US), SNF Floreger (France) and others

Further Key Finding from the Report Suggestion:

• In 2022, the base metals segment had the highest revenue share. Except for precious metals, base metals are composed of non-ferrous elements. According to projections, increased demand for base metals from the electrical and electronics, construction, and automotive industries will continue to be a significant contribution. Rising demand for copper and aluminum items drives revenue growth in the residential and non-residential building sectors in Southeast Asia and other growing markets. Demand should be boosted by the development of electric automobiles and other commercial vehicles.
• In 2022, the solvent category accounted for the majority of sales. Solvent extractors for concentrating and purifying metals such as copper, nickel/cobalt, lithium, Molybdenum, rare earth, and others are available on the market. Using the chemical improves electro-winning, boosts the efficacy of Kaolin treatments, and improves the quality of organic phases. Furthermore, because segmental revenue is pooled, the segment's participants control a large share of it. With brand-new, revolutionary technology, potential start-ups have a fantastic opportunity to grab this market. At the present, the industry leaders are Thermo Fisher, FMS, and Lab Tech.
• The North American market recorded the largest revenue share in 2022, primarily driven by the increasing demand for surface mining in developed countries like the United States and Canada. For instance, as reported by the U.S. Energy Information Administration (EIA), surface mines, also known as strip mines, accounted for 64% of the coal production in the United States in 2020. These mining techniques involve the removal of soil and rock layers above coal seams or deposits. Furthermore, the stringent regulations on wastewater recycling in the country may also contribute to market growth.

The global Mining Chemicals market is segmented into:

By Mineral Type Outlook: 

• Base Metals
• Non-metallic Minerals
• Rare Earth Metals

By Product Type Outlook: 

• Solvent Extractants
• Collectors
• Solvent Extractants
• Grinding Aids
• Others

By Application Outlook: 

• Mineral Processing
• Explosives & Drilling
• Water & Wastewater Treatment
• Others

Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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