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The Mining Chemicals Market Is Expected To Grow At A CAGR Of 6% With Consistent Growth In The Petroleum Industry As Per The Business Research Company's Mining Chemicals Global Market Report 2023


LONDON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company's Mining Chemicals Global Market Report 2023, the global mining chemicals market is set for significant growth, with a projected market size of $15.96 billion in 2023, compared to $14.89 billion in 2022, showcasing a remarkable compound annual growth rate (CAGR) of 7.17%. Looking ahead, the market is anticipated to expand to $20.17 billion by 2027, maintaining a CAGR of 6%. This growth is underpinned by the flourishing petroleum industry, which plays a pivotal role in the production of mining chemicals.

Driving Growth: The Petroleum Industry Connection

The growth of the mining chemicals market is intrinsically linked to the petroleum industry. Petrochemicals, a cornerstone of the chemical industry, serve as a primary source for many mining chemicals. A robust petroleum industry guarantees a consistent supply of feedstock chemicals crucial for the production of mining chemicals. In the first half of 2022, U.S. petroleum product exports surged by 11%, equivalent to a 596,000-barrel per day (b/d) increase compared to the same period in 2021. This growth in the petroleum industry is poised to generate substantial demand for the mining chemicals market.

Learn More In-Depth On The Mining Chemicals Market

https://www.thebusinessresearchcompany.com/report/mining-chemicals-global-market-report

Competitive Landscape and Digital Mining Solutions

The global mining chemicals market exhibits a concentration of ...

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