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The global mining waste management market was USD 164.16 billion tons in 2019 and is projected to reach USD 203.91 billion tons by 2027, exhibiting a CAGR of 2.9% during the forecast period.
Mining waste consists of overburden, slurry, tailings, rock, and other discards. The amount of mining waste differs across countries and is highly dependent on the respective geographical structure, economic value of the ore, and mineral demand in the market. Lower-grade ores are producing large quantities of mining waste, as compared to the higher grades. With increased mineral consumption globally, mining production has increased and consecutively, high amounts of mining waste are produced. Also, due to the increasing problem of surface water pollution backed by strict environmental regulations, mining waste management gained significant importance.
The outbreak of COVID-19 has a significant impact on market growth. The year-on-year growth rate is estimated to decline for 2020 as compared to historic years due to decreased mineral demand and shortage of laborers. Therefore, the market is expected to grow at lower CAGR during this year.
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Continued Interest in Mining Waste Co-disposal is a Prominent Trend in Market
In the co-disposal technique, waste rock, and fine tailings are combined and disposed of. The main aim behind this co-mixing is to improve the physical and chemical stability of the mining waste. Different co-disposal methods have been designed based on the degree of mixing and placement methods. Co-disposal possesses certain advantages over conventional or separate disposal methods. Tailing dams need not to be constructed, which, in turn, saves space and minimizes maintenance cost. Also, co-disposal simplifies water consumption and wastewater management. Collectively, co-disposal techniques have lower environmental impact.
Strict Government Regulations on Mining Operations is fueling the growth for the Mining Waste Management Market
The government authorities such as the Environment Protection Agency (EPA) across each region imposed strict regulations on mining operations and mining waste disposal. For instance, in the United States, the federal laws that regulate mining operations are National Environmental Policy Act (NEPA), Clean Air Act (CAA), Resource Conservation and Recovery Act (RCRA), Toxic Substances Control Acts (TSCA), Clean Water Act (CWA), and Comprehensive Environmental Response, Compensation & Liability Act (CERCLA) among others. These regulations force the mining operators to adopt safe and sustainable mining waste solutions. Violation or non-fulfillment of such regulations leads to civil penalties. Therefore, strict mining regulations are fueling the growth of the market.
High Operating Cost of Mining Waste Management is a Key Challenge for Growth of the Market
Disposing mining waste is a critical task and requires higher investment. Handling hazardous mine waste, especially acid waste drainage requires efficient operating equipment. Also, hazardous mine waste possesses a significant impact on human health. Therefore, to handle such waste material, highly skilled manpower and safety equipment are required. This increases the overall operating cost. However, with the adoption of smart mining waste technologies, impact of this restraint is projected to become low during the forecast period.
Surface Mining Segment to Remain the Largest Plastic Waste Source in the Global Market
Based on source, the market is divided into surface mining and underground mining segments. Among these, in 2019, the surface mining segment was the largest share contributor in the market. This segment is further sub-divided into open-pit, mountaintop removal, and strip mining. As compared to the underground mines, surface mines produce large amounts of waste.
When ore deposits are critical to tap from the surface, underground mining technique is used. Due to higher operating cost, the underground mines are carefully operated with the aim of generating less amount of waste. The ore extraction capacity of the underground mines is generally less than the surface mines. Thus, underground mines generate fewer wastes, as compared to open or surface mining.
Solid Waste Segment dominated the Global Market in 2019
On the basis of waste type, the market is segmented into solid waste and liquid waste. Among these waste types, the solid waste segment held the largest share in the market in 2019. This segment is further divided into waste rock, tailings, and others. The waste rock sub-segment held the largest share followed by tailings. The quantity of waste rock generated depends upon the mine geometry, mining method, composition, & stripping ratio of mines.
For instance, the stripping ratio of 3:1 means that thrice the quantity of waste rock needs to be mined to obtain one quantity of ore. Stripping ratio varies as per the different mineral commodities.
Tailings are fine sand remains that are found post valuable mineral separation. The amount of tailing is dependent upon the grades of the ore. Liquid mine waste is contaminated with harmful elements. The water released through different mining processes is acidic and can be carried to the surface. It can easily pollute the surface water. Therefore, mining waste water is carefully monitored and treated before it is released into the environment.
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Mineral Fuels Segment held Major Share in the Global Market
Based on commodity, the market is categorized into mineral fuels, Iron, Ferro alloys, industrial minerals, and others. Among these, the mineral fuels segment accounted for the largest share in 2019. Among these commodities, mineral fuels held a major share in the global mining waste management market followed by the Iron, Ferro alloys segment. Mineral fuel waste consists of the waste generated during mining of coal, lignite, uranium, natural gas, and other petroleum products. Mineral fuels became paramount to suffice the daily energy needs. With rapid industrialization, the demand for mineral fuels is increasing. Therefore, mineral fuel is highly mined and new sites are explored in order to meet the rising demand. Due to the high stripping ratio, the waste generated during mineral fuel mining is more.
The others segment includes mining waste generated during the extraction of precious metal and non-ferrous metal. Owing to the higher demand for precious metals such as gold, silver, rhodium, palladium, platinum and non-ferrous metals such as bauxite, copper, aluminum, zinc, lead, and rare earth metals. The production of these metals and minerals is increasing at higher rate. Thus, the others segment is expected to grow at a higher CAGR in the near future.
North America Mining Waste Management Market Volume, 2019 (Billion Tons)
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Based on region, the global market is categorized into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa.
Asia Pacific is the largest mining waste generating region in the world. Owing to the presence of high capacity mines, the region is expected to exhibit a CAGR of 3.7% over the forecast period. Owing to the greater presence of large capacity mines, China held the largest mining waste management market share in the Asia Pacific. China is the leading mining nation in the world and accounts for over 24% share in the global mining production. In Asia Pacific, Australia is the second largest individual contributor of mining waste. It ranked fourth among the top mining countries in the world and accounts for around 7% share in the global mining output.
Europe held the second largest share in the global market in 2019. Owing to the strict mining regulations, it is a well-established market for mining waste management. In Europe, Russia is the major country generating large quantum of waste due, followed by Germany. In the global mining production, the country held the third position, contributing around 9% share. Also, it is the third largest gold producer across the world. 83% of total European gold is sourced from Russia. Russian coal mines contribute around 14% to global coal production. Therefore, it is expected to maintain its dominance in the market during the forecast period.
In North America, the U.S. is a leading mining waste generating country. Also, the high mineral fuel mining exploration activities in the country is fueling the demand for mining waste management systems. The U.S. is the second largest mining nation in the world and accounts for around 12% share. Canada ranks among the top ten mining production countries in the world, which, in turn, represents potential growth opportunities for this market.
The market research report provides both qualitative & quantitative insights of the mining waste management across the world. Quantitative insights include mining waste management market sizing in terms of volume (billion tons) across each segment, sub-segment, and region profiled in the scope of the study. Also, it provides detailed information about the market analysis and growth rates of the segment, sub-segments, and key counties across each region. The qualitative insight covers the elaborative analysis of the market drivers, restraints, growth opportunities, and key trends related to the market. The competitive landscape section covers detailed company profiling of the key players operating in this market.
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Volume (Billion Tons)
By Waste Type
Fortune Business Insights says that the global mining waste management market was USD 164.16 billion tons in 2019 and is projected to reach USD 203.91 billion tons by 2027.
Growing at a CAGR of 2.9%, the market will exhibit significant growth in the forecast period (2020-2027).
The surface mining segment is expected to be the leading source segment in this market.
Increasing initiatives by the leading companies and strict government regulations for mining waste management are the key factors driving the global market.
Asia Pacific held the highest market share in 2019.
Key players operating in the market are Enviro-Serve Inc., Hatch Ltd., Veolia Environment S.A., Tetronics International, Golder Associates Inc., John Wood Group PLC, Ramboll Group, Tetra Tech, Inc., Ausenco, Seche Environment Company, Cleanway Environmental Services, and Aevitas.
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