The
flotation reagents market
is projected to grow from USD 4.15 billion in 2018 to USD 5.55 billion by 2023,
at a CAGR of 6.0% during the forecast period. The growth of the flotation
reagents market can be attributed to their increasing use in the water &
wastewater treatment application, coupled with their increasing consumption in
the mining industry.
The flotation reagents market in APAC
is projected to register the highest CAGR, in terms of value, between 2018 and
2023.
The flotation reagents market in APAC is projected to register the highest CAGR, in terms of value, during the forecast period. The market in China is projected to register the highest CAGR between 2018 and 2023, in terms of value. The growth of the market in APAC can be attributed to the increased use of flotation reagents in various applications such as water & wastewater treatment, explosives & drilling, and mineral processing. The APAC region is witnessing an increased demand for flotation reagents, especially from China, India, and the Southeast Asian countries. Factors such as an increase in mining activities and increasing investment in mining projects are expected to drive the market in the region during the forecast period.
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The leading players operating in the
flotation reagents market are BASF SE (Germany), Cytec Solvay Group (Belgium),
Clariant AG (Switzerland), Kemira OYJ (Finland), Huntsman (US), Dow Chemical
(US), AkzoNobel (Netherland), SNF FLOERGER SAS (France), Evonik (Switzerland),
and Orica (Australia).
BASF
SE (Germany), which is one of the largest manufacturers of flotation reagents
in the world, has adopted the strategy of agreements to strengthen its foothold
in the market. The company is continuously expanding its business of flotation
reagents across the globe to maintain its position in the market. For instance,
in March 2018, the company had an agreement with Solenis (US), both the company
agreed to join hands by combining BASF’s paper wet-end and water chemicals
business with Solenis. This agreement helped BASF in technological advancement
in the wastewater treatment industry which further helped the company in
providing a better solution to its consumers. Furthermore, it also helped the
company to expand its foothold in the North America region.
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