The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
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. 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 2019, with growth expected to surge at a strong 7% CAGR thereon, through 2029.
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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.
Xanthates Market: Vendor Insights
- The global xanthates market is consolidated, where key market players are concentrating on distribution partnerships, development of joint ventures, and aiming for stronger global footprint. Some of the key market players included in the report are SNF S.a.S and Orica Ltd., among others.
- Expansion of production capacity is identified as one of the significant steps taken by manufacturers in order to minimize the demand-supply gap in the xanthates market.
Xanthates Market: Synopsis
The mining sector is projected to dominate the global xanthates market throughout the forecast period. Increasing local and foreign investments in mining activities will positively impact the xanthates market with government regulations constantly keeping a check over the same.
Key market players are aiming to target regions with high investments in the mining sector such as Asia Pacific, Latin America, and MEA.
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Companies covered in Xanthates Market Report
- 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, LLC