Mining Waste Management Market projecting a CAGR of 6.5% during the forecast period, 2020-2026
Published | 18 March 2020
According to BlueWeave
Consulting, the global Mining Waste Management market has reached USD 195.30
Billion tons in 2019 and estimated to reach USD 289. 24 Billion tons in 2026
and anticipated to grow by CAGR of 5.78% during the forecast period 2020-2026.
The global mining waste management market is projected to grow in the forecast
period due to key driving factors, including high demand for metals and
minerals in developing countries.
The rising demand for metal
and minerals from the automotive industry, the development of various
infrastructures, the growing global power, and the energy sector, and
increasing environmental concerns are anticipated to boost the mining waste
management market in the coming years—the evolution of waste management
techniques to suit low-grade ores. Demand for coal is another factor fueling
the market. However, operational challenges and a lack of skilled workforce may
hamper the growth of the mining waste management market. On the other hand, the
production and exploration of metals and minerals will offer opportunities for
market players during the forecast period.
With
the rapid industrialization & urbanization, mining waste management
industry witnessing a lucrative growth rate in upcoming years.
Rapid industrialization
& urbanization are the key factors anticipated for the rising demand for
thermal coal. Additionally, the increasing rate of production and construction
sector leads to high demand for cement, which indirectly leads to propel the
market for mining waste management in the coming years. 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.
Tailing
segment witnesses to contribute to the significant growth rate in the global
Mining Waste Management market.
Tailings are water-based
waste products left after gangue removal from the ores during surface mining
operations, and large quantities of tailings 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.
Asia-Pacific
expected to boom demand in the global Mining Waste Management market
The growing population,
rapid industrialization, and improvement of Asia-Pacific 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. The Asia Pacific region 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. Metals & minerals are in high demand and the coal from
these end-use industries. The market in North America also expected to see
significant growth over the forecast period due to the growing advanced
technology in the region for mining waste management.
Browse Detailed Table of
Contents, “Mining Waste Management
Market, By Mining Method (Surface, and Underground), Metals/Minerals (Thermal
Coal, Coking Coal, Iron Ore, Gold, Copper, Nickel), By Waste Type
(Overburden/Waste Rock, Tailings, and Mine Water), and By Region (North
America, Europe, Asia-Pacific, Latin America, and Middle East & Africa);
Trend Analysis, Competitive Market Share & Forecast, 2016-26”
AT
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.
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