Africa Mining Chemicals Market Growth & Trends
The Africa mining chemicals market size is expected to reach USD 960.97 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.6% from 2021 to 2028. Factors such as the rising demand for minerals, increasing mining activities, and water treatment are likely to fuel the market growth over the forecast period. The growing market for metals such as gold, copper, and phosphate is expected to contribute to the product demand over the coming years.
Innovation in the industry is likely to increase yield and reduce the environmental hazards of mining operations. Furthermore, the deteriorating quality of mineral reserves is likely to result in the development of new and advanced mineral processing methods, which is expected to drive the demand for chemicals, such as flocculants, frothers, grinding aids, and solvent extractants, over the coming years.
Raw materials such as uranium, sulfuric acid, lead, nitric acid, mercury, and cyanide are used in the manufacturing of mining chemicals. China is a major exporter of mercury to Sub-Saharan Africa, followed by Singapore, Switzerland, Turkey, India, Mexico, United Arab Emirates, and Ukraine. In the African continent, Morocco is a major producer of Mercury. However, due to the adverse effect of mercury on the environment and human health, mineral miners are moving themselves to support mercury-free gold extraction. Countries such as Burkina Faso and Kenya have participated to support mercury-free gold extraction programs led by the United Nations.
The African market for mining chemicals is characterized by the presence of numerous manufacturing giants and local players who constantly focus on upgrading their overall business portfolio right from product development to marketing. The product demand in Africa has increased significantly since the past decade with major shifts in the mining industry, coupled with the growing wastewater activities in the region. Many end-use application manufacturers have even formed alliances with the manufacturers to maintain consistency in their production processes and eliminate the risk of uncertainty in terms of product availability and sourcing.
Africa Mining Chemicals Market Report Highlights
- By ore type, the powder gold segment is expected to expand at the fastest CAGR of 5.8% in terms of revenue over the forecast period. The growth is attributed to the increasing use of gold in different applications, including medicine, water treatment, printing paper, and making colors for painting
- In 2020, the explosives and drilling segment emerged as the dominant application segment and accounted for a revenue share of more than 35.0% because drilling and explosions are major operations used in opencast mining
- Ivory Coast is projected to register the fastest CAGR in terms of volume from 2021 to 2028. This growth is attributed to the growing gold mining activities in the country
- The African market for mining chemicals is highly competitive due to the presence of a large number of multinationals that are engaged in constant research & development activities and local players
- Some of the key local players are involved in enhancing their market presence in Africa through signing an agreement with distributors