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Report
Xanthates Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The xanthates market is expected to register a CAGR of over 5% during the forecast period.
The mining industry was one of the most affected industries in the wake of the COVID-19 pandemic, with prolonged lockdowns and stringent social distancing norms leading to a lack of labor and supply chain disruptions across the globe. With many mines temporarily shutting down, demand for the xanthates market dropped drastically during the pandemic.
Key Highlights
With the manufacturing and services sector steadily recovering from the aftermath of the pandemic, mining activities are now returning to pre-pandemic activity levels, indicating growing demand for xanthates in the market. The widening usage of xanthates in rubber processing is expected to strengthen this demand further.
However, the emergence of xanthates replacement technology which could potentially provide higher performance and safer handling and disposal, may hinder the market growth. Environmental regulations associated with mining activities could additionally weaken demand for the xanthates market.
On the flip side, growing research around the development of bio-based xanthate-based flotation agents could lead to market opportunities in the long run.
The Asia-Pacific region is expected to dominate the global xanthates market during the forecast period.
Xanthates Market Trends
Rising Mining Activities Across the Globe
For any economy to sustain and function well, it requires an unobstructed supply of raw materials under fair market conditions. Even though there is an abundance in the availability of minerals, geopolitical or economic disorders can lead to disruptions in the supply of mineral resources. Therefore, with the rise of global economies, the mining sector is anticipated to show steady growth during the forecast period.
According to the World Mining Data 2022, China, the United States, Russia, and Australia together accounted for over 50% of total mining production globally. With the anticipated growth of the industrial sector in economies like China and the United States, the demand for raw materials is expected to grow, increasing mining activities.
Concerning the 27th annual?Mineral Commodity Summaries report from the USGS National Minerals Information Center, the United States mines produced approximately USD 90.4 billion in mineral commodities in 2021, which is a USD 9.7 billion increase over the 2020 revised total of USD 80.7 billion. The United States produced 14 mineral commodities worth more than USD 1 billion during the same year.
Trends from the mining industry indicate steady growth in mineral production. For instance, Iron ore production increased by 151.3% during the last decade, while Aluminium production went up by 165.6% during the same period, according to the World Mining Data 2022.
Across the Asia-Pacific region, India has abundant reserves of iron ore, bauxite, chromium, manganese ore, barite, rare earth elements, and mineral salts. The number of reported mines in India in FY2022 was estimated at 1,245, of which 525 registered mines were for metallic and 720 for non-metallic minerals. India's metals and mining sector is expected to grow in the coming years due to reforms such as the Make in India campaign, smart cities, rural electrification, and building renewable energy projects under the National Electricity Policy.
The factors above indicate the growth of mining activities globally, indicating a potential rise in demand for xanthate-based flotation agents during the forecast period.
Asia-Pacific Region Set to Dominate Global Market
According to the World Mining Data 2022 report, the Asia-Pacific region dominated the mining sector globally with a total mineral production (not including bauxite) of around 10.3 billion metric tonnes in 2020, accounting for around 60% of the total global mineral production.
Within the Asia-Pacific region, China is the global leader in mineral production with a total of 4.4 billion metric tonnes of minerals produced in 2020. The growing industrial sector in the country is expected to fuel the demand for raw materials. For reference, the manufacturing output in China touched USD 4.8 trillion in 2021, registering a year-on-year growth of over 26% in comparison to the previous year.
In the first 10 months of 2022, China's foreign direct investment grew by 14.4% year-on-year, reaching nearly CNY 1.09 trillion (USD 170 billion), indicating great promise for the growth of the manufacturing sector. Similarly, India witnessed FDI equity inflows of close to USD 1.4 billion to metallurgical industries and mining activities, between April 2021-November 2021.
According to the Directorate General of Commercial Intelligence & Statistics, between January-August of 2021, iron ore exports of India reached USD 2.23 billion registering a year-on-year growth of 21.8%.
On the other hand, rubber production is expected to witness steady growth in the Asia-Pacific region with increasing demand from the boom of the automobile industry in the region. According to the Rubber Board - Ministry of Commerce & Industry, India will require close to 1.5 million tonnes of natural rubber (NR) by 2025-2026. This increasing demand for rubber is anticipated to strengthen demand for xanthates across the region.
The steady growth of the mining industry and the rising demand for rubber across the region are expected to be the growth engines for the xanthates market in the Asia-Pacific region.
Xanthates Market Competitor Analysis
The xanthates market is partially consolidated in nature. Some major players in the market include Coogee Chemicals, Amruta Industries, CTC Energy & Mining Company, Orica Limited, Vanderbilt Chemicals LLC, and others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Mining Activities Across the Globe
4.1.2 Widening Use of Xanthates in Rubber Industry
4.2 Restraints
4.2.1 Emergence of Xanthates Replacement Technology
4.2.2 Environmental Regulations Associated with Mining Activities
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1 Product Type
5.1.1 Sodium Ethyl Xanthate
5.1.2 Sodium Isopropyl Xanthate
5.1.3 Sodium Isobutyl Xanthate
5.1.4 Potassium Amyl Xanthate
5.1.5 Other Product Types
5.2 Application
5.2.1 Mining
5.2.2 Rubber Processing
5.2.3 Agrochemicals
5.2.4 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Amruta Industries
6.4.2 Coogee Chemicals
6.4.3 CTC Energy & Mining Company
6.4.4 Orica Limited
6.4.5 QiXia TongDa Flotation Reagent Co. Ltd
6.4.6 Senmin International (Pty) Ltd
6.4.7 SNF Group
6.4.8 Tieling Flotation Reagent Co. Ltd
6.4.9 Vanderbilt Chemicals LLC
6.4.10 Yantai Humon Chemical Auxiliary Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Research and Development of Eco-Friendly Bio-Based Xanthate-Based Flotation Agents
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