Global Mining Waste Management Market Forecast and Trends

The global Mining Waste Management market has reached USD 195.30 Billion tons in 2019 and estimated to reach approx.. USD 289.24 Billion Tons in 2026 and anticipated to grow by CAGR of 5.78% during the forecast period 2020-2026. Due to the growing population, metal and mineral consumption is growing at a significant rate around the world. The mineral commodity market is likely to develop as a new mineral. The increasing demand for metals will, therefore, lead to increased mining operations, which will add to the market for mining waste management. The waste produced by this extraction of minerals, which has a severe impact on the environment, which increases the need for the management of demand mining waste. The growth of this mining industry has sparked the need for a market in the management of mining waste.

Increasing awareness of safety and sustainable environment adoption to live a healthy life has guided the growth of the demand for Mining Waste Management over the 2020-2026 forecast period. The advent of deep-sea mining will be one of the key market developments in mining waste management to gain traction over the projected timeframe. The industry is seeing a gradual shift towards offshore mining with onshore mining approaching saturation. The seabed is rich in mineral content which increases the mineral recovery potential. The oil and gas sector has already invested in exploration offshore and has accepted deepwater and ultra-deepwater as standard oil extraction activities.  Mineral extraction by deep-sea mining will further increase demand for the management of mining waste during the forecast period.

Global Mining Waste Management Market: Overview

Mining waste is produced when minerals are extracted, enriched, and processed. The first phase of mining activity is the extraction process. Once the ore is transported to the surface, mineral extraction is further extracted, this process produces a large quantity of waste due to the amount of recoverable metal, which is typically a small fraction of the total mass even of a high-grade rock. Besides, higher-grade ores are getting depleted with rising mining activities. As a result, the industry of mining waste management is now focused on deposits of lower grades.

As a consequence, the amount of waste produced increases. Mining operations produce large amounts of mining waste during mineral extraction, reclamation, and processing. The larger the mini size, the higher the quantity of waste generated. Once the ore has been carried to the surface, mineral extraction is further processed. Due to the amount of recoverable metal, which is usually a small fraction of the total mass, even of a high-grade rock, this method often produces a significant quantity of waste. Besides, higher-grade ores are getting depleted with rising mining activities. As a result, the industry of mining waste management is now focused on deposits of lower grades. Therefore the amount of waste produced increases.

Growth drivers

Growing power and utility sector

The growing power and utility sector is a major driving force for growth in the global market for the management of mining waste. However, growing environmental concerns are another factor expected to fuel the growth of the market for mining waste management over the forecast period.

Rapid industrialization, urbanization, and the growing transportation industry

Rapid industrialization, urbanization, and the increasing transport industry are expected to drive thermal coal demand. In addition, the growth of the manufacturing and construction sector is fuelling the demand for cement, which is expected to drive the market for mining waste management in the coming years.

Restraint

Operational challenges for managing & lack of skilled professional

Operational waste management issues during mining waste management are expected to be a major factor in limiting the growth of the global market for mining waste management over the forecast period. Another factor expected to slow target market growth in the near future is the lack of a skilled workforce.

Global Mining Waste Management Market: Method

During the forecast period, the surface mining system segment is projected among the mining methods to lead the market in mining waste management. Surface mining is a low cost, safe, and has a high rate of exploration in comparison with the underground mining process. Surface mining is commonly employed in copper, iron, gold, nickel, zinc, and other metals and minerals production. The growing use of these metals and minerals in various end-use industries would drive globe-wide surface mining activities. It, in effect, would fuel the increase in the demand for mining waste management.

Global Mining Waste Management Market: Metals/Minerals

The thermal coal segment is expected to lead the market in mining waste management between 2016 and 2026, among metals/minerals. Thermal coal is commonly used in power and energy generation, and the manufacture of cement. Demand for power and energy is increasing as the transport industry is rapidly industrializing, urbanizing, and growing. The growing market for construction and construction is fuelling the demand for cement, which is expected to drive the market for mining waste management in the near future. Coal is expected to lead the Mining Waste Management Market because of its high demand from the energy and power sectors. Power and energy sectors are now focused on sustainable growth in renewables; however, coal still forms a large part of the global energy generation pie.

Global Mining Waste Management Market: Waste Type

The tailings segment of the market for mining waste management is projected to grow at the highest CAGR over the forecast period based on waste volume. Tailings are water-based waste products left after gangue removal from the ores during surface mining operations, and large quantities of residues are produced during the processing and exploration of thermal coal, iron ore, copper, coking coal, and other metals and minerals. The processing and discovery of these metals and minerals are likely to create enormous amounts of mining waste that is expected to drive the demand for mining waste management in the coming years. Overburden & waste rock is produced during open-pit mining creation and when minerals are extracted from underground mines. Mineral and ground rock wastes created during the mineral processing operations are tailings. In a mine site, mine water can be created in many ways and can be harmful if combined with regular water.  Certain types of waste include slag, sludge for water treatment, and gaseous waste.

Global Mining Waste Management Market: Regional Insights

North America, Europe, Asia-Pacific, and Latin America & MEA segmented the mining waste management industry geographically. In 2020 the Asia Pacific region is expected to lead the market for mining waste management. China, Australia, Kazakhstan, and India are the leading countries contributing a significant share to the demand for mining waste management. The growing population, rapid industrialization, and improvement of these countries ' economic conditions are expected to drive the growth of various end-use industries in the region, such as the automobile, electrical & electronics, power & energy, and construction markets. Metals & minerals are in high demand and the coal from these end-use industries. The market in North America is also expected to see significant growth over the forecast period due to the growing advanced technology in the region for mining waste management.

Mining Waste Management: Competitive Landscape

The major market players in the Mining Waste Management market are focusing on explaining their portfolio of services in the global market. Such as AMG Advanced Metallurgical Group, Mandalay Resources Ltd, United States Mining Waste Management Corporation, Korea Zinc, Recyclex, Nihon Seiko Co., Ltd., Umicore, Hunan Chenzhou Mining Group Co., Ltd, Huachang Mining Waste Management Industry, Geopromining, Ltd., Consolidated Murchison Mine, Belmont Metals, American Elements, Tri-Star Resources PLC, Amspec Chemical Corporation and Other Prominent Players.

The objective of the Study:

To analyze and forecast the global Mining Waste Management market size of the market in terms of value.

To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

The Global Mining Waste Management market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

To outline, categorized, and forecast the global Mining Waste Management market based on the mining method, metal/minerals, waste type with the region.

To examine competitive developments like technological advancement, services, and regulative framework within the global Mining Waste Management market.

To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report:

By Mining Method

·         Surface

·         Underground

By Metal/Minerals

·         Thermal Coal

·         Coking Coal

·         Bauxite

·         Iron Ore

·         Copper

·         Lead

·         Others

By Waste Type

·         Overburden/Waste Rock

·         Tailings

·         Mine Water

By Region: 

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

Business Questions Answer by the Report

How will the market drivers, restraints, and opportunities affect the market dynamics?

What will be the market size in terms of value and volume and market statistics with a detailed classification?

Which segment dominates the market or region, and one will be the fastest-growing, and why?

A comprehensive survey of the competitive landscape and the market participant players

Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority, and that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

With five additional company detail analysis

Additional country analysis

Detailed segment analysis