Xanthates Market 2022
Excerpts from a new Persistence Market Insights (PMR) report on xanthates market suggests that global xanthates sales would veer at over US$ 400 Mn in 2022, with growth expected to surge at a strong 7% CAGR thereon, through 2029. The global mining industry is expected to experience strong revival in the near future, shaking off the effects of global slowdown. This is expected to be backed by resurgence of various associated industries such as metalworking & metallurgy, precious stones & gems, and mineral extraction landscape. Xanthates, being the reagent of choice, is widely used in all these industries.
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Key Companies-
- Senmin International (Pty) Ltd
- QiXia TongDa Flotation Reagent Co., Ltd.
- Yantai Humon Chemical Auxiliary Co.Ltd
- CTC Mining
- SNF FloMin Inc.
- Orica Limited.
- Tieling Flotation Reagent Co.Ltd
- Coogee Chemicals
- Vanderbilt Chemicals, LLC3
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Key Highlights – Xanthates Market Study
- Market in Asia Pacific to Consume a Sizeable Proportion
Asia Pacific is by far the largest market for xanthates, accounting for around half of global sales. The region also significantly contributes to the global production of xanthates. Decline in ore grade has led to the need for exploration of new mines with targeted geographic expansion by investors in Vietnam, India, Australia, and other regions of Asia Pacific. This, in turn, creates a highly conducive environment for growth of the xanthates market. An interesting observation is that of buying preferences of end users in Asia Pacific being inclined in favor of sodium-based xanthates, owing to its lower cost and easier availability.
- Mining Sector Identified as Longstanding and Largest Consumer
Consumption of xanthates as a mining reagent in froth flotation process for extraction of heavy metals is its primary application. Its extensive use in mining of metals such as copper, gold, and other metals is projected to create lucrative opportunities for market players operating in the xanthates market. Furthermore, the application spectrum of xanthates in the field of agrochemicals and rubber processing is yet to be explored to its full potential. Hence, research & development in those areas might create growth avenues and offer first movers’ advantage to manufacturers with product offerings for such applications.
- Green Chemistry Penetrating Xanthates Marketplace
Xanthate manufacturers are engaged in development of bio-xanthates, which are notably less toxic and more stable than conventional xanthates. These can potentially replace conventional xanthates in the long run. Talking of substitutes, several governing authorities, such as The Queensland Government, have suggested safer options to use liquid xanthates in place of solid xanthates, eliminating the need for storage and handling of dry chemical.
With rising awareness about green chemistry in mining sector, its implications on xanthates market are noted to cause an internal disruption. The development of bio-based xanthates can be marked as a technological development in the xanthates marketplace. Further, with governing authorities monitoring consumption of xanthates and suggesting use of liquid xanthates instead of its solid counterparts, can be expected to mold the product’s consumption patterns.
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Key Questions Answered in PMR’s Xanthates Market Report
- Which region is anticipated to hold a prominent market share over the forecast period?
- What will be the key driving factors propelling the demand for xanthates during the forecast period?
- How current trends will impact the xanthates market?
- Who are significant market participants in the xanthates market?
- What are the crucial strategies of prominent players in the xanthates market to upscale their positions in this landscape?
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